Different Types of Bank Accounts in China
- Non-Resident Account: available for foreign institutions and companies in every domestic and foreign bank based in the Chinese Mainland, strictly regulated by the State Administration of Foreign Exchange (SAFE);
- Offshore Account: opened for overseas institutions and individuals only available in four banks that have been authorized, which areadministered by China Banking Regulatory Commission;
- Free Trade Non-Resident Account: available for foreign institutions within the area of Free Trade Zone;
Capital Account: An account for foreign-funded enterprises to deposit currency contributions as a means for the State of China to regulate the investments and the approval of the Administration of Foreign Exchange. - General Deposit Account: used for the renewal or repayment of the loan for fund receipt and payment in other settlements, which excludes cash withdrawal with limitation of foreign currency remittance only;
- Virtual Account: non-physical and online bank accounts that can be set up quickly and conveniently with an easy application form;
Opening a Bank Account as an Offshore Company
| Account Type | Features | Available Banks | Requirements | Remote Application |
|---|---|---|---|---|
| Non-Resident Account | Access to foreign currency exchange without restriction | Standard Chartered | A shareholder or chairman of the board of the offshore company should have an active domestic Chinese company under their name |
YES We will visit the counter on your behalf. |
| Offshore Account | Access to foreign currency exchange without restriction (recorded) | CB International Bank LLC | Fulfilled the basic requirements of the offshore company |
Yes Online opening via video call. |
| Free Trade Non-Resident Account | Access to foreign currency exchange without restriction (Recorded with RMB settlement) | China Everbright Bank Co., Ltd./Shanghai Pudong Development Bank Co., Ltd. (FTN or FTA account) | A shareholder or chairman of the board of the offshore company should have an active domestic Chinese company under their name |
Yes Online opening via video call. |
Required Company Documents for Opening Bank Account as an Offshore Company
- Certificate of incorporation
- Corporation by-laws
- Business contract (at least with two purchase contracts and two sales contracts)
Opening a Bank Account as a Chinese Mainland Company
| Account Type | Features | Available Banks | Requirements | Remote Application |
|---|---|---|---|---|
| Basic deposit account | Settlement, withdrawal | Most banks (Industrial and Commercial Bank of China Limited/Bank of China Limited/Bank of Communications Co., Ltd) | Fulfilled the basic requirements of the domestic Chinese company | Open a bank account via online video chat |
| Capital account | For capital remittance only | Most banks | Fulfilled the basic requirements of the domestic Chinese company | Open a bank account via online video chat |
| Foreign currency bank settlement account (general deposit account) | No withdrawal, for foreign currency remittance only | Most banks | Fulfilled the basic requirements of the domestic Chinese company |
Open a bank account via online video chat |
Required Company Documents for Opening Bank Account as a Chinese Mainland Company
- Original copy of the company's business license
- Official seal/Finance chop/Seal of Legal representative
- Original copy of the legal representative's identity card
- Original copy of the identity card of the USBKey owner
- Original copy of the proof of registered address
2026 service note: who this banking preparation is for
This service is for China companies and foreign-invested enterprises preparing a corporate bank account file, especially where shareholders, business model, source-of-funds explanations or operating records need to be presented clearly. For a new entity, coordinate banking with WFOE registration in China from the start.
How Hongda helps
- Review the company documents, ownership information and expected transaction model.
- Help organize the bank file and the practical explanations banks may request during review.
- Coordinate the account-opening work with finance setup, including China bookkeeping support and management reporting needs such as CFO outsourcing in China.
- Flag gaps that could make the file harder to explain before submission.
Risks and common mistakes
No service provider can guarantee bank approval. Common issues include inconsistent transaction explanations, missing company records, unclear customer/supplier evidence, weak source-of-funds support and a disconnect between registration, banking and accounting.
Need a case-specific review? Contact Hongda before you file, submit or restructure the case so the setup, documents and follow-up compliance can be checked together.
Service FAQ
Who is this service for?
This service is for China companies and foreign-invested enterprises that need help preparing a clearer corporate bank account file and explaining the company’s operating model.
Can account approval be guaranteed?
No. Banks review each case based on their own risk controls, company documents, transaction profile and supporting evidence. Hongda helps prepare the file but cannot guarantee approval.
How does Hongda help?
Hongda helps organize company documents, expected transaction explanations, shareholder/director information and follow-up questions so the bank review is easier to support.
What creates avoidable risk?
Unclear business activity, inconsistent contracts, weak source-of-funds explanations, missing company records and poor coordination between registration, banking and bookkeeping can slow review.
