I. Main ways to open a card

1. On-site account opening in Hong Kong

Advantages:

- Most bank options (HSBC, Standard Chartered, Hang Seng, Bank of China Hong Kong, Citibank, etc.)
- The entire process is transparent, and the card can be received on-site after the interview or mailed immediately

Disadvantages:

- Requires Hong Kong and Macau travel permit and endorsement
- Transportation and accommodation costs
- Appointments are tight, waiting in line

2. Hong Kong branches of mainland banks/overseas branches (e.g., CCB Hong Kong branch, ICBC Asia, etc.)

Advantages:

- Can make appointments or submit materials at mainland branches to reduce trips
- Some banks allow remote registration and in-person interviews upon arrival

Disadvantages:

- Branch scale and service may not match local Hong Kong banks
- Often limited to high-net-worth or wealth management clients

3. Third-party cross-border financial platforms (‘Yinzhengtong’, some wealth management institutions)

Advantages:

- After submitting materials, it can be handled by an agent, and most processes can be completed in the mainland
- Threshold may be lower than traditional large banks

Disadvantages:

- Service fees/commissions are relatively high
- Whether an in-person interview in Hong Kong is necessary depends on the platform arrangement

4. Virtual banks/online banking (ZA Bank, WeLab, ZhongAn, etc.)

Advantages:

- Fast account opening, mobile app operation
- No monthly fee, relatively high deposit interest rates

Disadvantages:

- Most require a valid Hong Kong ID (Hong Kong residents have it easier)
- Mainland residents may also conduct in-person interviews through border crossings, but slots are limited

II. Core materials and conditions

  • Document

Hong Kong and Macau travel permit (including valid endorsement), Chinese ID card;

Some banks may also require the original passport.

  • Address proof (within the last three months)

Mainland: Utility bills, bank statements, copy of property certificate;

  • Proof of income/funding source

Salary slips, social security payment records, individual income tax proof, recent bank statements;

If the deposit amount is large, you may also need to provide an investment portfolio or tax documents.

  • Tax residency form

Fill out the personal tax residency declaration form according to CRS rules (W-8BEN/W-9, etc.).

Summary

  • Feasibility: Clearly feasible — the safest way is to personally visit a Hong Kong branch for account opening; if inconvenient, you can rely on mainland banks' Hong Kong branches or compliant agency platforms; virtual banks depend on requirements.

  • Cost and compliance: Weigh transportation costs, minimum deposits, annual fees/management fees, as well as compliance costs for foreign exchange in the mainland and tax declaration in Hong Kong.

  • Practical suggestions:

  1. Prioritize large domestic banks with branches in Hong Kong (e.g., CCB Asia, ICBC Asia) that can complete most processes in the mainland;

  2. For small amounts of funds seeking convenience, consider virtual banks like ZA Bank, WeLab for in-person interviews;

  3. Allow sufficient time to prepare materials and make an appointment to avoid last-minute rush.