Chinese Bank Account Opening

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;
  

See the comparison table below for a detailed requirements for an offshore company and Chines mainland company:

Opening a Bank Account in China as an Offshore Company

❗No need to attend in person, Hongda will support the account opening process on behalf of the applicant.