Open a Corporate Bank Account in China Remotely
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.
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.
See the below tables for a comparison of the requirements for an offshore company and a Mainland China 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:
| 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:
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.
Hongda Business Consultant Ltd.
Tel. +86 755 2586 2199
Shenzhen:
Unit 605-608,
Shuguan Building, No.012,
South 12th Keji Road,
Nanshan District,
Shenzhen, 518000
Hainan:
Rm1909, Fortune Center
Da Tong Avenue,
Longhua District,
Haikou, Hainan Province, 570000
Guangzhou:
10/F, Sanyin Building, No. 12
Huayu Road, Zhujiang New Town,
Tianhe District, Guangzhou, 510000
