Published · Mongolian (Traditional)

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, bank selection, onboarding timelines, common friction points, and ongoing compliance. General information only, not legal or tax advice.

For most foreign founders, the corporate bank account is the step that turns a registered company into a working business. You can finish the business licence and still be unable to pay staff, sign a lease, or invoice a customer until the account is live. This guide explains how the process usually works in mainland China, what banks tend to ask for, where foreign-invested enterprises (FIEs) commonly get stuck, and how to plan realistically. It is general information only, not legal or tax advice; requirements vary by bank, branch, city and company profile, so confirm details with your bank and professional advisers.

Why the bank account matters more than it looks

In China, the corporate account is not just a place to hold cash. It sits inside a tightly supervised banking system. Your company will typically need at least two accounts: a basic deposit account (基本存款账户), which is the primary account for day-to-day operations, payroll and cash withdrawal, and one or more general deposit accounts (一般存款账户) for specific purposes such as a capital contribution account or a loan-repayment account. A foreign currency account may be needed separately for cross-border receipts and payments.

The basic account is the anchor. Payroll, tax payments and much of the operational activity flow through it, and you generally cannot open a general account before the basic one exists. Banks also apply enhanced due diligence to foreign-invested companies, so expect more questions than a domestic founder would face.

Documents banks typically request

Exact lists differ, but most branches will ask for a core set. Prepare clean, consistent copies and be ready to explain any mismatch between documents.

• Business licence (original and copies), plus the company's unified social credit code.
• Articles of association and, where relevant, the foreign investment information report filed with the authorities.
• Legal representative's ID — passport for a foreign legal representative — and proof of authority if someone else signs.
• Company seal set: official seal, financial seal, legal representative seal and, if used, contract seal. Banks often require specific seals on specific forms.
• Registered address proof: lease agreement, property certificate or a landlord-issued confirmation.
• Beneficial ownership information, including shareholders and ultimate controllers, with supporting corporate documents for corporate shareholders.
• Board resolution or shareholder resolution authorising account opening and appointing signatories.
• Power of attorney if the legal representative cannot attend in person.

Banks may also request proof of business substance — a brief description of planned operations, expected transaction volumes and counterparties, and the source of initial capital. This is normal anti-money-laundering and know-your-customer work, not a sign that something is wrong.

Choosing a bank and a branch

There is no single best bank. The right choice depends on your sector, currency needs, transaction profile and where your people actually are.

Large domestic banks

The big state-linked banks have wide branch networks and strong corporate capabilities. They are often comfortable with larger balances and cross-border trade, but onboarding can be slower and documentation demands can be heavier for small new entities.

Joint-stock and city commercial banks

These can be more flexible and faster for smaller companies, and some branches are experienced with foreign founders. Service quality varies significantly by branch, so the relationship manager matters as much as the brand.

Foreign bank branches

International banks can be convenient if you already bank with them elsewhere and need multi-currency coordination. Their mainland presence is narrower, and they may focus on larger or cross-border-heavy clients.

Digital and specialist options

Some banks offer streamlined onboarding for certain company types, and payment or fintech providers can handle collections. These usually complement rather than replace a traditional corporate account. Confirm what each provider can and cannot do before you rely on it.

The onboarding process, step by step

1. Shortlist banks and branches. Call or visit two or three branches near your registered address or office. Ask specifically whether they onboard foreign-invested companies and what their current document list is.
2. Pre-screen with the relationship manager. Share your company profile, shareholder structure and expected transactions. A preliminary conversation saves weeks.
3. Prepare and align documents. Check that names, addresses and shareholding percentages match across the licence, articles, shareholder documents and resolutions.
4. Attend in person. Many banks require the legal representative to appear at the branch, sometimes with a video or interview component. Bring originals and seals.
5. Complete KYC and beneficial ownership forms. Expect questions about your business model, expected flows and the countries you transact with.
6. Wait for approval. The basic account may require filing with the local branch of the People's Bank of China. Timelines vary widely — days in some cases, several weeks in others.
7. Activate online banking and test. Set up token-based access, confirm limits, and make a small test payment before payroll or supplier deadlines.

Common friction points for foreign founders

• Legal representative not in China. Attendance requirements can delay opening. Ask early whether remote verification or a power of attorney is accepted.
• Registered address concerns. Banks may scrutinise virtual or shared addresses. Have clear documentation and, if relevant, explain your actual operating arrangements.
• Complex ownership structures. Multi-layer offshore holdings trigger more beneficial ownership checks. Prepare a clear ownership chart.
• Currency mismatches. A capital contribution in foreign currency may need a dedicated account and supporting documentation for conversion and use.
• Inconsistent documents. Small discrepancies — an abbreviated company name, an old address — cause rework. Align everything before you apply.
• Language. Forms are in Chinese. Bring a translator or an adviser who can review what you sign.

After the account is open

Opening the account is the start of an ongoing relationship. Banks monitor transactions and may ask for invoices, contracts or explanations for unusual flows. Keep records organised. Maintain minimum balances if required, understand fee schedules, and update the bank when signatories, shareholders or addresses change. If you process cross-border payments, confirm the documentation the bank needs for each type of transfer so routine payments do not get held up.

A realistic planning checklist

• Confirm your company registration is complete and your documents are internally consistent.
• Decide which currencies and transaction types you need before choosing a bank.
• Speak to at least two branches and get their current requirements in writing.
• Line up the legal representative, seals and a Chinese-speaking adviser for the appointment.
• Budget several weeks for onboarding and avoid promising customers a payment date you cannot control.

Treat the bank account as a project with dependencies, not a formality. Founders who prepare documents carefully, choose a branch that regularly handles foreign-invested companies, and communicate openly about their business tend to move through onboarding with fewer surprises. For anything involving tax, foreign exchange or corporate structuring, consult qualified local professionals — the details depend on your specific circumstances.