img-china-bank-account-open-header-icon

China Bank Account Opening Service

Open a Corporate Bank Account in China Remotely

    Opening a Bank Account in China

    The process for opening a corporate bank account in China regularly changes. In recent years, the trend has been towards more stringent regulations, including the need for the physical presence of a representative to open an account.

    This is changing as several banks are now accepting virtual or remote applications.

    New Call-to-action

    Opening a Bank Account in China Remotely: What You Need To Know

    The process, features, requirements and documents for opening a bank account remotely depends on the bank, the account type and whether the company is registered in Mainland China or offshore. In most cases, you will be able to open a bank account virtually through online video chat.

    Different Remote Bank Account Types in China

    • Non-Resident Account - A foreign exchange account for overseas business opening in domestic banks in accordance with regulations.
    • Offshore Account - Freely transfer funds from an offshore account without being subject to foreign exchange controls in your home country.
    • Free Trade Non-Resident Account - A free trade account that can only be opened by overseas companies in the free trade zone.
    • Capital Account - An account for foreign-funded enterprises to deposit currency contributions into as a means for the State of China to regulate the investments and the approval of the Administration of Foreign Exchange.
    • General Deposit Account - A foreign currency bank settlement account that does not include withdrawal and is restricted to foreign currency remittance only.

    See the below tables for a comparison of the requirements for an offshore company and a Mainland China 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 One of our employees will open the bank account for you
    Offshore Account Access to foreign currency exchange without restriction (recorded) CB International Bank LLC Fulfilled the basic requirements of the offshore company Open a bank account via online video chat
    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 Open a bank account via online video chat

     

    Required Company Documents:

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

    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

     

    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

    Why Use Hongda’s Remote Bank Account Opening Service?

    We will guide and assist you in preparing your account opening documents, filling out application forms, and setting up video calls. We stay in touch with banks at all times to follow up on your account status and ensure that you can get your bank account as soon as possible.

    Hongda Business Services has been assisting foreign companies in setting up and managing local Chinese businesses
    in Shenzhen, Guangzhou, around the Pearl River Delta (PRD), Shanghai, and Hong Kong since 2007.

    New Call-to-action