Which Bank Should a Hong Kong Company Choose for Its First Business Account?

Starting a company in Hong Kong is already a big step—but opening your first business bank account? That’s the part where many new founders get stuck. Between endless paperwork, branch appointments, and vague requirements, it’s easy to feel lost in the process.

But here’s some good news: you don’t have to go through it the hard way. This article walks you through what really matters when selecting a bank for your first business account—and why CBiBank has become a popular choice among startups and SMEs in Hong Kong, even though it’s not a local Hong Kong bank.

1. How to Identify a Bank with a Fast and Transparent Onboarding Process?

Not all banks are created equal when it comes to speed and clarity. Traditional banks in Hong Kong often require in-person appointments, multiple rounds of document verification, and weeks of waiting—especially for newly registered companies.

In contrast, modern banks like CBiBank offer remote onboarding, video KYC, and clear step-by-step documentation requirements. Most accounts can be opened within 2–3 working days, and businesses can start using their accounts immediately for global transactions.

2. What Makes a Bank Friendly for New Hong Kong Companies?

Many traditional banks prioritize well-established businesses with years of financial records. That leaves startups and new companies facing high rejection rates or long waiting times.

CBiBank supports newly registered Hong Kong companies even without local directors, office space, or transaction history. The bank focuses on understanding the actual business model and compliance risk, not just a company’s age.

This makes it ideal for:

Tech startups

E-commerce sellers

Cross-border service providers

Freelance agencies and remote teams

3. Why CBiBank is Popular Among Hong Kong Companies?

Although CBiBank is not a Hong Kong-based bank, it has become well-known in the local startup ecosystem for offering:

Multi-currency business accounts (USD, EUR, HKD, CNH, GBP, JPY)

Fully remote video KYC onboarding

Fast approval in 2–3 working days

Support for e-commerce and trade settlements

U-Key hardware security devices for safe transactions

These features are especially attractive to businesses that want to move fast without being bogged down by traditional procedures.

4. What Account Functions Should You Prioritize?

Opening a business account isn’t just about “getting it done.” The right bank should support your operations from day one. Key functions to look for include:

Global wire transfers and multi-currency support

Payroll and supplier payments

E-commerce platform settlements

Letter of credit and trade finance (if needed)

Remote access, mobile banking, and secure login methods

CBiBank covers all of these functions and more. For companies planning to scale globally or handle cross-border trade, it offers a flexible and robust platform without the constraints of local-only banks.

Final Thoughts

Choosing your first bank account as a Hong Kong company isn’t just a checkbox—it sets the foundation for how smoothly your business will run. Traditional banks have their strengths, but they also come with delays and rigid requirements. In contrast, CBiBank offers a modern, remote-friendly solution that’s especially popular with fast-moving SMEs and startups in Hong Kong.

If you want to get started quickly, without the headache of branch visits and unclear procedures, CBiBank is definitely worth your consideration.