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Chinese Bank Account Opening

 Join 3000+ Satisfied Customers

  • Experts with 16+ years of experience
  • Cover All Major Banks across the Chinese mainland
  • 100% Online Processing

Tailored Service for Saving Budget 

Our comprehensive understanding of clients’ requirements enables Hongda to present an individually customized solution plan to meet your unique needs.

Whether you are running a small start-up firm or a large-scale corporate, our tailored service package will be the perfect choice for you to save your budget while ensuring all your problems are satisfactorily solved.

OUR PROMISES

Everything You Need To Do

01.

Consult and confirm proposal

Book a free consultation with our experts and receive our comprehensive proposal for you to confirm.

02.

Contract Signing and make payment

Sign the service contract and make payment.

03.

Preparing Documents

We will send everything that you need to prepare, not hard at all.

04.

Wait for the good news

Leave rest of the work to Hongda and we will inform you in 1-2 weeks.

 

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.

Account Type Features Available Banks Requirements Remote Application
Non-Resident Account Access to foreign currency exchange without restriction Standard Chartered  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) 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.

 

 img-icon-man-file  Required Company Documents:

  • Certificate of incorporation
  • Corporation by-laws
  • Business contract (at least with two purchase contracts and two sales contracts)

 

 

Opening a Bank Account in China as a Mainland China 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 Capital remitted 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, foreign currency remittance only Most banks Fulfilled the basic requirements of the domestic Chinese company Open a bank account via online video chat

 

img-icon-man-file  Required Company Documents:

  • 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





FAQS

How do I set up a company in Shenzhen or the PRD?

Prepare the shareholder certificate, letter of good standing from the bank. Find an office in China. Make the application (of course better find a professional agent in China to help you).

Do I need to have a foreign company to start a company in China?

No, you could also use your personal name to start the company in China.

What are the drawbacks of a WFOE / rep office / JV?

Rep.Office:High tax, could not hire Chinese employees directly.

WFOE/JV: Slow registration time.

The benefit of all is that if you aim to run a business in China, any will allow you to do so. 

Do I need to personally go to China to set up the company?

No, you dont. Hongda Business Services
can help you to do this while you are abroad.

Do I need an actual office space to register a WFOE / rep office / JV?

Luckily now, you dont. Hongda Business Services can provide the office address for registration. 

Which documentation do I need for a WFOE / Rep Office / JV?

Oversea investor's certificate, bank reference letter and office in China are the key documents for each company type. 

WHAT CLIENTS ARE SAYING

Sound United

Jack Peng
Sound United Vice President > Asia Pacific

Sound United is the leading designer and manufacturer of consumer audio products in the US. Sound United has been using Hongda since 2013. Moving one’s operation to China is not a small task, But Hongda’s expert services helped us set up a company and deal with tax issues so we could get on with growing our business in no time at all, and that’s why we continue to use them today.

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Travis Perkins

David Finch BA ACMA CMIIA CAMA

Travis Perkins PLC Director of Group Business Risk & Assurance


Travis Perkins PLC (a leading builders merchant in the UK) has been using Hongda Business Services since 2008 for accounting and professional services. Throughout this time, we have found the team at Hongda to be very helpful and professional in their dealings with us. We look forward to working with the company in the future.

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Tulip Pacific Ltd.

Erik de Waard

Tulip Pacific Ltd. > Director

Tulip Pacific Ltd. (Business planning and interim financial management services) has been using Hongda Business Services since 2012. Hongda has helped us set up legal entities in China/HK and takes care of our annual company audits. They are the most efficient business service provider I have worked with to-date, and their professional advice has helped me better advise my own clients and provide greater value to my overall business.

Business service Guidance

Hongda Business Services helps foreign businesses looking to establish in the PRD (Pearl River Delta, Guangdong), Shanghai and Hong Kong take advantage of everything that China has to offer. We typically work with companies in Shenzhen, Guangzhou, Zhuhai, Zhongshan, Shanghai, and Hong Kong.
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