Published · Dari

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

A practical walkthrough of opening a corporate bank account in mainland China for foreign founders — entity types, documentation, the role of the basic deposit account, timelines, common friction points, and how to prepare.

This article provides general information only. It is not legal, tax or financial advice. Banking rules and bank-specific requirements change frequently and vary by city and by institution, so confirm every detail with your chosen bank and with a qualified local adviser before you act.

For most foreign founders, incorporating the company is the exciting part. Opening the corporate bank account is where momentum often stalls. Chinese banks are cautious by design, foreign-exchange rules are strict, and the paperwork expected of a foreign-invested enterprise (FIE) can feel heavier than what you are used to at home. None of this is insurmountable, but it rewards preparation. This guide walks through what the process generally looks like, what you will need, and where founders typically get stuck.

First, understand which account you are actually opening

Chinese corporate banking is organised around a distinction that does not exist in many other markets: the basic deposit account (基本存款账户, often translated as the “basic account”) versus general deposit accounts.

Basic deposit account. A company can hold only one, at a single bank branch. It is the account through which day-to-day operating cash flows — salaries, supplier payments, tax payments — normally pass, and it is the account tied to the company’s ability to withdraw cash. Many operational permissions flow from having this account in place.
General deposit accounts. A company may open several, for example with a second bank for a specific purpose, or a dedicated account for a particular project. These are opened after the basic account exists.

There are also specialised accounts — for example for foreign-currency capital, for temporary purposes, or for specific funds — but for a newly established FIE, the practical sequence is: register the company, then open the basic deposit account, then open whatever additional accounts you need.

Expect the basic account to be the most scrutinised. Banks treat it as the anchor of your corporate identity, and they will want to understand your business before they open it.

What you will typically need to provide

Requirements differ from bank to bank and branch to branch, and some cities are stricter than others. That said, a foreign-invested company should generally be ready to produce the following. Treat this as a preparation checklist to confirm with your bank, not a definitive list.

Corporate documents

The business licence (营业执照) of the newly established company.
The company’s articles of association (章程) and, where relevant, the foreign investment information reporting materials filed at establishment.
Official company seal(s) — the company chop is central to Chinese corporate formalities, and banks will expect to see the relevant seals. Bring the full set your registration produced.
Legal representative’s identification: passport for a foreign legal representative, and any supporting documents the bank requests.
Registration documents showing the registered address, and proof of the actual office or operating address if the bank asks for it.

People and authority

Identification for authorised signatories and, where applicable, the person handling the account opening.
Board or shareholder resolutions authorising the account opening and naming signatories, in the form the bank requires.
A power of attorney if someone other than the legal representative will sign or attend.

Business substance

A clear description of what the company does, who its customers and suppliers are, and expected transaction flows.
Supporting commercial documents such as draft contracts, invoices, or a business plan — banks increasingly ask for evidence of real trading activity.
Ultimate beneficial owner (UBO) information for the foreign parent or shareholders, consistent with what was disclosed during registration.

Documents issued abroad often need to be notarised and, depending on the bank and the document, legalised or apostilled, and sometimes translated into Chinese. This is one of the most common sources of delay: founders arrive with a passport and a business licence and discover the bank also wants authenticated parent-company documents. Ask your bank for its exact document list in writing, in advance.

The process, step by step

While every bank runs its own playbook, the general shape is fairly consistent.

Choose the bank and branch. Compare not just fees but service in English, digital banking quality, branch proximity, and willingness to handle cross-border payments. A branch that regularly serves foreign-invested companies will usually be smoother than one that rarely does.
Make an appointment and share the document list. Do not simply walk in. Ask for the account-opening requirements and confirm which documents are needed, in what form, and whether originals are required.
Attend in person. In most cases the legal representative or an authorised person must appear at the branch. Banks commonly conduct identity verification and may ask questions about the business, ownership and expected transactions. Answer consistently with your registration documents.
Complete the bank’s onboarding and due diligence. This includes know-your-customer checks, beneficial ownership review, and often a questionnaire on expected transaction volumes and counterparties. Be specific and realistic.
Receive the account and the tools to use it. This includes account details, online banking credentials, payment tokens or similar devices, and the company seals registered with the bank. Set up digital banking carefully — access controls and approval workflows matter.

Timelines vary widely. A straightforward case at a bank familiar with FIEs in a major city can move relatively quickly once documents are complete; a case with missing authenticated paperwork, an unusual ownership structure, or a bank unfamiliar with foreign founders can take considerably longer. Plan for weeks rather than days, and build the account opening into your project timeline rather than treating it as an afterthought.

Where founders commonly get stuck

Registered address versus real office

Some companies use a registered address that is not where they actually operate. Banks may want to see a genuine place of business and may conduct a site visit or ask for a lease. Be ready to explain the arrangement honestly.

Thin business substance

A newly formed company with no contracts, no staff and no clear revenue model looks risky to a bank’s compliance team. Bring evidence of what you will actually do — a signed customer contract, a supplier agreement, a credible plan.

Mismatched documents

Names, addresses, shareholding percentages and signatories must line up across the business licence, articles, resolutions and identification documents. Inconsistencies trigger questions and delay.

Cross-border expectations

Founders often assume the account will work like a home-country account for international transfers. In practice, foreign-currency and cross-border payments involve additional documentation and bank review, and the rules are administered carefully. Discuss your expected cross-border flows with the bank early so you understand what supporting documents will be required for payments and receipts.

Language and relationship

Banking in China is relationship-driven and largely conducted in Chinese. If your Chinese is limited, bring a competent interpreter or work with a bank relationship manager who handles foreign clients. Do not rely on a colleague’s informal translation of requirements.

A practical preparation checklist

Confirm your company registration is complete and all seals are in hand.
Ask two or three banks for their written account-opening document lists and compare.
Have parent-company and shareholder documents notarised, legalised or apostilled as required, and translated if needed.
Prepare a short, clear written description of your business, ownership and expected transactions.
Line up the legal representative or authorised signatory to attend in person.
Decide who will control online banking access and set approval rules before you activate it.
Budget realistic time — and keep your adviser and bank contact in the loop throughout.

Opening a corporate bank account in China is less about any single difficult step and more about completeness and consistency. Banks are not trying to block foreign founders; they are applying due diligence rules that reward well-prepared, well-documented businesses. Get the paperwork right, be transparent about your business, choose a bank that knows foreign-invested companies, and the account opening becomes a manageable part of setting up — rather than a wall you hit after incorporation.