Published · German

Opening a Corporate Bank Account in China: A Practical Guide for Foreign Founders

A practical, plain-English guide for foreign founders on opening a corporate bank account in mainland China: account types, documents, the application process, common friction points, and how to prepare before you apply.

For many foreign founders, opening a corporate bank account in mainland China feels like the last mile of company setup—and often the slowest. The company is registered, the business licence is in hand, and yet money cannot move until a bank has completed its own onboarding, compliance and risk review. This guide explains how the process generally works, what banks tend to ask for, and how to prepare so that the application does not stall. It is general information only, not legal, tax or financial advice; requirements vary by bank, branch, city and the nature of your business, so confirm details directly with your chosen bank and, where appropriate, with professional advisers.

Why the bank account matters more than founders expect

In China, the corporate account is not just a place to hold cash. It is the channel through which registered capital is contributed, invoices are settled, salaries and taxes are paid, and foreign exchange is converted and remitted. Many operational steps—social insurance registration, tax withholding, reimbursements, paying suppliers—assume a working RMB account. A delay here can delay everything else, so treat banking as a workstream that starts in parallel with company registration, not after it.

The main account types you will encounter

Basic deposit account (基本存款账户)

This is the core operating account. A company can generally have only one basic account, and it is the account used for cash withdrawals, payroll and day-to-day operations. Opening it usually requires the company to be fully registered and to have its business licence and official seals.

General deposit accounts (一般存款账户)

Companies often open additional general accounts for specific purposes—project funds, a second operating account, or borrowing arrangements. These are opened after the basic account exists and are tied to it.

Foreign currency and capital accounts

If you have foreign investment, you will likely need a foreign currency account and, where relevant, a capital account used to receive and convert registered capital. Foreign exchange handling in China is subject to specific rules, and banks will ask for documentation supporting each inbound or outbound transaction. Your bank's international desk or your adviser can explain the current requirements for your structure.

Documents banks typically request

Exact checklists differ, but a foreign-invested company should expect to provide most of the following:

• Business licence (original and copies, often with a recent issue date).
• Company seals: the official company seal, the financial seal, the legal representative's seal and, where used, the contract seal. Seal control is a serious matter in China—keep them secure and log their use.
• Articles of association and, for foreign-invested enterprises, approval or filing documents from the registration authority.
• Identification of the legal representative—usually a passport for a foreign national—and, in many cases, the legal representative's presence at the branch.
• Identification of authorised signatories and the board or shareholder resolution authorising account opening and signatory arrangements.
• Proof of registered address: lease agreement, property certificate or the address recorded on the licence.
• Beneficial ownership information: details of shareholders and ultimate beneficial owners, often down to a specified ownership threshold, plus supporting corporate documents for corporate shareholders.
• Business substance evidence: contracts, invoices, a business plan, website, or correspondence with counterparties that helps the bank understand what the company actually does.

Documents in a foreign language usually need translation, and some banks ask for notarisation or legalisation of foreign corporate documents. Ask for the bank's written checklist before you visit the branch, and prepare extras—branches frequently request one more copy than the list suggests.

The application process, step by step

1. Shortlist banks. Consider the large state-owned banks, joint-stock banks and foreign bank branches. Compare branch location, English-language support, online banking quality, foreign exchange capability and minimum balance or fee requirements. A relationship manager who understands foreign-invested companies is worth more than a marginally better fee schedule.
2. Pre-screen with the bank. Before booking a branch visit, share your company profile, ownership structure and expected transaction flows. Banks conduct know-your-customer and anti-money-laundering checks, and a short pre-conversation can reveal whether your business fits their risk appetite.
3. Book an appointment. Account opening at a branch is usually by appointment. Confirm who must attend—often the legal representative in person—and what originals to bring.
4. Attend the branch and sign. Expect forms, signature cards, seal registration and sometimes a short interview about the business, expected turnover, main counterparties and source of funds. Answer consistently with the documents you submitted.
5. Wait for approval. The branch submits the application for internal approval and, for the basic account, files with the local branch of the People's Bank of China. Timelines vary widely—from a few days to several weeks—depending on the bank, the city and the complexity of your ownership structure.
6. Activate and test. Once opened, set up online banking, obtain the token or USB key, confirm transfer limits and test a small transaction. Clarify how to add or change signatories later, as this often requires another branch visit.

Common friction points and how to reduce them

• Complex ownership structures. Layers of offshore holding companies, trusts or nominee arrangements slow beneficial ownership checks. Prepare a clear ownership chart with supporting documents for each layer.
• Thin business substance. A newly registered company with no contracts, staff or premises can look high-risk. Bring evidence of real activity: signed contracts, a lease, hiring plans, a website, or correspondence with suppliers.
• Name and document mismatches. Ensure the company name, address and legal representative details match exactly across the licence, seals, resolutions and translations. Small inconsistencies cause rework.
• Legal representative availability. If the legal representative cannot attend in person, ask early whether the bank accepts a notarised power of attorney and whether the authorised signatory must also appear.
• Unclear transaction expectations. Be ready to explain expected monthly volumes, currencies, main counterparty countries and the nature of your goods or services. Vague answers invite more questions.

Practical tips before you apply

Open the account as soon as the licence is issued, because tax and social insurance obligations can begin quickly. Keep digital and physical copies of every document you submit. Ask the bank for its fee schedule in writing, including monthly account fees, transfer charges and foreign exchange spreads. Clarify whether the branch offers English-language online banking and who your relationship manager will be. Finally, build a little patience into your plan: compliance review is not a formality, and a well-prepared file is the fastest route through it.

None of the above is legal, tax or financial advice. Banking rules and branch practices in China change, and they can differ from city to city. Confirm your specific requirements with your bank and qualified advisers before you act.