Do I need to come to Hong Kong to register a company?

No, personal presence is not required. Company registration in Hong Kong can be completed entirely remotely. All documents are prepared and submitted without the need to travel, provided the data and structure are correctly prepared.

Can a foreigner register a company in Hong Kong?

Yes. A foreigner can be both a director and a shareholder of a Hong Kong company without restrictions on citizenship or residency. This is standard practice for international business.

How long does Hong Kong company registration take?

The incorporation itself usually takes a few business days. The full cycle, including document preparation and issuing the corporate package, typically takes 2–3 weeks. Timing depends on the structure and readiness of the initial information.

Do I need to open a bank account right away?

No, opening an account is not required to register the company. You can open an account later, once the structure and business activity are fully prepared. In some cases, this can even make bank compliance easier.

How do taxes work in practice for a Hong Kong company?

Hong Kong applies the territorial principle of taxation. Tax treatment depends on where the business is actually conducted and where profits are generated. There is no universal answer — it is determined by the real facts of the business.

Do I need bookkeeping and an audit for a Hong Kong company?

Yes, the company must keep accounting records and file reporting. In most cases, an audit is required. The format and timing depend on turnover and the nature of the business. We explain in advance which obligations will apply in your case.

What is a company secretary and why is it required?

A company secretary is a mandatory requirement for Hong Kong companies. The secretary supports corporate compliance, interaction with registries, and formal filings. We provide this as part of our maintenance service.

What documents will I receive after registration?

After registration you receive the full corporate document set, including incorporation certificates, the articles, and registers of directors and shareholders. These documents are used for banking, counterparties, and ongoing maintenance.

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Open a Bank Account in China

Do you work with Chinese suppliers, engage in import or export? We open corporate accounts in mainland China — tailored to your needs, with full support.

Settlements with suppliers

For companies making regular payments to mainland China.

Import and export

For businesses engaged in foreign trade and cross-border flows.

CNY and other currencies

For transactions in yuan and multi-currency settlement models.

Documents and compliance

Full support with documentation, business profile, and bank communication.

Discuss your case

What accounts and payment instruments we open in China

We select a solution based on your needs — whether it’s business with Chinese partners, working in China, or travel. We work with individuals, sole proprietors, startups, and companies.

Corporate current account

For companies with operations in China: settlements with suppliers, receiving revenue, daily operating activities.

Foreign trade account

For import, export, and cross-border payments. Specialised products offered by some Chinese banks for foreign trade businesses.

Personal account in China

For those who live, work, or plan to relocate to China. A CNY account for everyday payments, rent, salary.

WeChat Pay и Alipay

China’s main payment systems. Without them, it is difficult to pay in shops, cafes, or taxis. We assist with linking and verification for foreigners.

UnionPay

A card of the Chinese payment system — a popular alternative to blocked Visa and Mastercard for residents of Russia. Works within China and is accepted in dozens of countries worldwide.

Golden Tax account

For companies with tax obligations in China. Integration with the Golden Tax system, issuing invoices, and proper interaction with Chinese tax authorities.

Price for opening a bank account in China

The cost depends on the type of client, country, and the chosen financial institution.

Basic
For individuals and simple structures

from 1 700 $
Consultation and case analysis
Bank selection based on your profile
Document checklist
Preparation recommendations
Standard
Suitable for most companies

from 3 000 $
Analysis of structure and business case
Preparation of a complete document package
Creation of a corporate profile
Application submission and communication with the bank
Support until account activation
Extended
For holding structures and urgent cases

from 5 000 $
Everything included in the Standard package
Complex structures and holdings
Non-standard jurisdictions
Parallel submissions to multiple banks
Priority support

Learn more

Gellert Group Team

Ksenia Yadryshnikova — specialist in international corporate and tax consulting with 12 years of experience in Asia and Europe.

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“

Our mission is to provide every client with a level of service that would satisfy us as well.

— Ksenia Yadryshnikova, CEO Gellert Group

12 years

in international business consulting
100+

companies opened accounts in China
20+

experts in team and partners worldwide
10+

jurisdictions supported

Cases

Major medical equipment supplier

Comprehensive legal support, including bank account opening.
Filter and component supplier

Contract support for foreign trade operations.
Redomiciliation of a major soft drink supplier to Cyprus
Registration and relocation of a large IT company to Cyprus, including employment of foreign staff
Launch of IT startups in EU countries and management of financial flows in the industrial sector

Why open an account in China

The reasons vary — some have business with Chinese partners, others work or relocate, and some just travel. We tailor the solution to your situation.

Business with China without intermediaries

Direct settlements with suppliers, import and export, cross-border payments in CNY — without intermediary banks and extra fees. Fewer links means faster and cheaper.
Work and life in China

A local bank account is needed for renting housing, receiving salary, and paying for services. Without it, daily life in China is significantly more difficult.
WeChat Pay and Alipay for foreigners

Cash is almost never used in China. WeChat Pay and Alipay are linked directly to a Chinese bank account — without it, full verification for foreigners is impossible. We help open an account and set up both wallets.
Getting a UnionPay card

UnionPay works in China and is accepted in most countries. For Russian residents under sanctions, this is the most viable way to replace blocked Mastercard and Visa.

Open a bank account in mainland China or Hong Kong

This is one of the most important questions we address when you reach out. Each jurisdiction has its own rules — and the choice depends not on what is “more popular,” but on your goals and business specifics.

A bank account in mainland China is better if:

You regularly pay suppliers in mainland China
You have a genuine trade or operational connection with China
You need an account for local business processes and settlements in CNY
Working directly with Chinese banking infrastructure is important
Your business conducts or plans operational activity on the territory of China

Who typically needs an account in a Chinese bank

Chinese banks do not open accounts on request — they vet the business. Without a properly established business track record, a corporate profile, and an understanding of the bank’s compliance logic, you will face additional inquiries, delays, or a refusal without explanation.

Ongoing purchases in China

Companies that regularly source goods from Chinese manufacturers and want to set up a clear payment circuit without unnecessary intermediaries.
Importers

Businesses that need a direct and transparent channel for settlements with Chinese suppliers within import operations.
Exporters

Companies working with Chinese customers and receiving revenue from selling goods or services in the Chinese market.
IT specialists and freelancers

Developers, designers, consultants working for international clients. An account in China is a convenient tool for receiving payments and working with Asian clients.
Relocation and business within China

Entrepreneurs and companies that are physically moving to China or opening an office, representative office, or legal entity there. An account is needed for operational activities on the ground.
Russian citizens under Western sanctions

For those affected by restrictions from Western banks and payment systems. Chinese banks operate outside the jurisdiction of the US and the EU — an account in China allows international settlements where European and American banks refuse service.

What tasks does an account in China solve

Payments to Chinese suppliers

Direct settlements in CNY without intermediaries or delays.
Receiving revenue from China

A convenient tool for those selling goods or services to Chinese companies.
Settlements in yuan

Reduces currency risks and simplifies negotiations with Chinese partners.
International transfers bypassing Western restrictions

Chinese banks operate outside US and EU jurisdiction.
Everyday payments in China

Rent, salary, WeChat Pay, Alipay — all require a local account.
Financial documentation and reporting

Bank statements, transaction confirmations, interaction with Chinese tax authorities.

We select a bank based on your business format

There is no universal bank in China that suits everyone. For some companies, foreign trade specialization is more important. For others, local settlements, currencies, group structures, or operations within China matter more. Major banks — ICBC, Bank of China, China Construction Bank, Agricultural Bank of China — each have different corporate service profiles and different approaches to working with foreign companies.

What we analyze when selecting a bank

Company structure and jurisdiction of incorporation
Countries and citizenship of owners and beneficiaries
Business profile and industry
Money flow and key payment streams
Geography of counterparties — suppliers and buyers
Volume and type of future transactions
Settlement currencies and transaction frequency

We do not choose a bank based on a big name.

Bank selection is an analytical task, not a matter of brand. The right bank is the one that fits your specific situation — not the first one that comes to mind.

Partner bank in China

Chouzhou Commercial Bank

Our partner

Chouzhou Commercial Bank is a commercial bank in China focused on serving companies engaged in international trade. It was built from the ground up for trading companies — import, export, settlements with Chinese counterparties. That's why transactions here don't raise the unnecessary questions that would trigger inquiries in a European bank.

Advantages

Specialization in trading companies — not a retail bank
Multi-currency settlements: USD, EUR, CNY, HKD
Instant transfers for China-to-China payments
Compliance that understands the specifics of import and export

Steps of opening an account in China

Opening a corporate account in mainland China is a sequential process where each step affects the next. The quality of preparation in the early stages directly determines the speed and outcome at the final stages. That’s why we start not with documents, but with an analysis of your case.

Case analysis

We determine exactly why the business needs an account in China and whether mainland China is suitable, or if Hong Kong or another jurisdiction makes more sense.

Structure review

We select a bank based on business format, currencies, counterparties, and expected transaction types — without brand bias.

Bank selection

We prepare a description of the company’s activity, payment flows, clients, suppliers, and the purpose of opening the account.

Document preparation

We assess beneficiaries, company jurisdiction, business profile, and potential compliance questions the bank may raise.

Corporate profile

We compile and structure the document package so that the bank sees the business logic, not just a set of disconnected files.

Submission and activation

We respond to additional bank inquiries and support the process until the account is operationally ready and services are connected.

Documents and bank requirements

Opening an account in China is always a business verification process, not a formal application submission. The bank looks at the legality of the company, the ownership structure, the purpose of opening the account, and the reality of future operations. Official materials from the Bank of China and SAFE explicitly indicate the need to verify the authenticity and completeness of documents, and for foreign organizations — to verify registration documents and, if necessary, their translation into Chinese.

What the bank analyzes

Who owns the company and who the beneficiary is
What the company does and which industry it operates in
Why the account is needed specifically in China — the business purpose
Which counterparties the business will work with
What turnover and types of transactions are planned
Where the funds come from and what the source of capital is
Whether there is a real and verifiable connection between the business and China

What is typically prepared

Company registration documents
Documents of the director, signatory, and beneficiary
Powers of attorney, if a representative is acting
Description of the company's activities
Information about clients and suppliers
Explanation of the payment flow and money trail
Supporting materials on the source of funds
Document translations, if necessary

Specific requirements may vary depending on the bank and even on the specific branch. This is one of the reasons why document preparation requires professional support, rather than following generic checklists from the internet on your own.

Why you are unlikely to open an account on your own

Chinese banks do not open accounts upon request — they vet the business. Without a properly established business track record, a corporate profile, and an understanding of the bank's compliance logic, you will face additional inquiries, delays, or a refusal without explanation.

📌 Weak justification = high risk

If the bank doesn't understand the business logic, it asks repetitive questions, requests documents again, and delays the review. Each round means lost time.

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📌 Strong presentation is part of the procedure

The corporate profile and payment flow description are not optional — they are mandatory. Without them, the application appears incomplete.

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📌 A rejection is difficult to challenge

Banks are not required to explain the reasons for a refusal. Re-applying means starting the process from scratch, often with a different bank. It is better to get it right the first time.

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Preparation of a corporate profile for the bank

The corporate profile is one of the key documents we prepare as part of our support services. For the bank, it is important to quickly and clearly understand what the company does, how it earns money, who it works with, and why it needs an account specifically in China. A well-prepared profile eliminates most questions before they even arise in the bank specialist's mind.

What the profile should include:

A brief and clear description of the business in plain language
The structure of working with China: suppliers, buyers, partners
The types of future transactions and their logic
Expected currencies and approximate payment volumes
Key counterparties and the nature of the relationship with them
The flow of funds — where money comes from and where it goes
The business purpose for opening the account specifically in mainland China

Why this matters

A bank specialist reviewing applications sees dozens of companies. A profile that is vague or formal does not answer their questions — so they will ask them to you, delaying the process.

A profile that is clear and written with an understanding of what exactly matters to the bank is a professional presentation that demonstrates the seriousness of the company's intentions and reduces the number of follow-ups.

This is precisely why the corporate profile is not merely an attachment to the application, but an independent tool that largely determines the outcome of the entire process.

We help prepare the profile so that the bank does not have unnecessary questions already at the first stage of the application review. This saves time and increases the likelihood of a positive outcome.

How long does it take to open an account?

We deliberately do not publish fixed timelines that we cannot guarantee. The time it takes to open an account in China depends on the bank, your company's structure, the quality of the prepared documents, and the speed of interaction at each stage — both on the client's side and on the bank's side.

/01

Preliminary case assessment

Analysis of the company's structure, beneficiaries, activities, and compliance with the selected bank's requirements. This stage identifies potential complications before documents are submitted.

/ 02

Collection and preparation of documents

Compilation of a complete package, preparation of the corporate profile, and, if necessary, translation of documents. The pace at this stage largely depends on the client's responsiveness.

/ 03

Application review by the bank

The bank conducts an internal review of the application and documents. Timelines vary depending on the bank, its internal workload, and the type of applicant company.

/ 04

Additional compliance inquiries

The bank may request clarifications, additional documents, or explanations. We support this stage and formulate responses properly.

/ 05

Final opening and activation

The account is opened, banking services are connected, and access to online banking and other corporate services is set up.

The better the project is prepared at the start, the less time is lost on revisions and repeated explanations. The quality of preparation is a direct contribution to the speed of the outcome.