No. 304, 3rd Floor, Building B5, New Guo Da Zhou Innovation Research Institute, Zhongxin Wisdom Third Street 10, Huangpu District, Guangzhou City, China

EN   |   中文
新企点

Bank Account Opening: What Are the Requirements for HSBC Corporate Account Opening? Detailed Guide is Here!

According to a report by China News Service Finance, industry experts believe that China's economy has entered a new stage of high-quality development. With the increasing demand for economic transformation and upgrading, the overseas expansion of Chinese enterprises is no longer simply a corporate choice, but has become an inevitable trend of the times.

Most companies expanding overseas choose to open offshore accounts, but since the implementation of the CRS agreement, bank account opening requirements have gradually increased, and the thresholds have become more stringent. Against this backdrop, HSBC, with its advantages of speed, security, and convenience, has become the preferred bank for many companies.

I. What are the advantages of having a corporate account with HSBC?

HSBC, officially known as The Hongkong and Shanghai Banking Corporation Limited, was founded in 1865 and is one of the three note-issuing banks in Hong Kong. As one of the world's leading financial services institutions, HSBC operates in more than 60 countries and regions worldwide, with over 700 branches.

Its extensive global network covers mature and emerging markets that businesses value most, and it is committed to creating new opportunities for its customers, always adhering to the corporate mission of "Connecting the World, Creating New Opportunities".

Image/Source: unsplash.net

The main advantages of opening a corporate account at HSBC are:

  1. Supports online banking for convenient daily account management; also supports RMB exchange.

  2. Free movement of funds, high liquidity, and no foreign exchange controls;

  3. Provides a physical bank card that supports ATM withdrawals in mainland China, facilitating the repatriation of funds to China;

  4. Exemption from deposit interest tax;

  5. Highly secure account protection and comprehensive privacy measures;

  6. A fast payment system;

  7. Unrestricted deposit interest rates and account types;

  8. We offer Chinese customer service globally, ensuring seamless communication.

II. HSBC Corporate Account Opening Guide


1. List of documents required for opening a mainland company account (prepared before opening an account):

Note: Prepare the company seal, legal representative's personal seal, and financial seal on the day of account opening.

  1. Original and copy of business license;

  2. Account opening permit;

  3. Latest version of the company's articles of association (including amendments to the articles of association);

  4. Photocopies of the ID cards of the legal representative and shareholders;

  5. Companies registered for less than one year must provide a lease agreement and photos of their business premises;

  6. Companies opening accounts in different locations need to provide a PRD (Public Relations Document) lease agreement for their business premises. If the registered location and the actual business location are the same, then a lease agreement is not required (e.g., Guangdong Province).

2. Documents required for opening an offshore account:

  1. Original business registration certificate;

  2. Original company registration certificate;

  3. The latest annual return or company incorporation document;

  4. Articles of association and related amendment documents;

  5. Photocopies of the ID cards of directors and shareholders;

  6. Business contracts between Hong Kong companies and mainland companies (such as export business contracts where the Hong Kong company purchases goods from the mainland company).


 3. If the Hong Kong company has been incorporated for less than one year or has not conducted any business, the following proof of business and assets should be provided:

a. Sales contracts or invoices from the domestic company are required;
b. Financial statements or bank statements for the past six months from the domestic company are required (one month's statements are sufficient).

4. When a Hong Kong company has business operations, the following proof of business and assets is required:

a. Sales contracts or invoices from the Hong Kong company;
b. Profit and loss statement and bank statements for the past six months from the Hong Kong company (one month's statement is sufficient).

Note: Prepare the company's official seal on the day of account opening.

Image/Source: unsplash.net

III. How to choose the type of corporate account with HSBC?


1. FTN account

This is suitable for newly registered corporate clients whose businesses do not operate in high-risk industries.

The FTN (Free Trade Non-resident) account is a free trade account launched by the Shanghai Free Trade Zone, applicable to overseas institutions. The FTN account functions similarly to the NRA account, both being accounts opened in China by overseas companies. Financial institutions in Shanghai, such as HSBC, provide this account service.

2. NRA Account

For offshore company clients, NRA accounts support letters of credit and multi-currency exchange services.

An NRA account refers to a foreign exchange account or a RMB account opened by a foreign company at a Chinese bank in accordance with relevant regulations. Foreign exchange transactions for NRA accounts include foreign exchange deposits, foreign exchange swaps, and international settlements, while RMB accounts involve RMB deposits and international settlements.

3. HSBC Hong Kong corporate account

This is applicable to offshore companies with certain business operations. When opening an account, proof of the affiliated company must be provided.

Finally, there is the OSA account (Offshore Account), but currently only some banks' offshore business departments (such as China Merchants Bank, Shanghai Pudong Development Bank, and Bank of Communications) can open OSA accounts, and opening an account is quite difficult.

Image/Source: unsplash.net

If you are planning to open a company overseas or urgently need to open a corporate bank account, HSBC is undoubtedly your ideal choice.