Published · Awadhi

Opening a Corporate Bank Account in China: A Practical Guide for Foreign Founders

A practical, plain-English guide for foreign founders on opening a corporate bank account in mainland China: the documents banks ask for, how to choose a bank, the role of capital accounts, common delays, and how to keep your account healthy after opening.

Opening a corporate bank account is one of those setup tasks that looks simple on paper and can quietly consume weeks of a founder's time in practice. In mainland China, the bank account is not just a place to park money: it is the node that connects your registered capital, your day-to-day operations, your tax filings, and your ability to pay staff and suppliers. Getting it right early saves a lot of friction later.

This article gives a general, practical overview for foreign founders setting up a company in mainland China. It is general information only, not legal or tax advice, and banking practice varies by city, bank branch, and the specifics of your company. Always confirm requirements with your chosen bank and with your local advisors.

Why the corporate account matters more than you expect

In most jurisdictions a business bank account is a convenience. In China it is closer to infrastructure. Several things depend on it:

• Capital contribution. If your company has registered capital, the money must arrive through a designated capital account (a foreign exchange capital account for foreign-invested enterprises) and then be converted and used according to foreign exchange rules.
• Tax and invoicing. Your company needs a bank account linked to its tax registration to sign the tripartite agreement that allows tax payments to be deducted automatically, and to receive payments tied to fapiao (official invoices).
• Payroll and social insurance. Salaries, individual income tax withholding, and social insurance contributions all flow through the corporate account.
• Credibility. Counterparties, landlords, and platforms often expect to see a domestic corporate account before they will sign or onboard you.

Because the account sits at the center of so much, banks apply meaningful onboarding checks. Expect the process to be document-heavy and identity-focused rather than a quick formality.

The two (or more) accounts you will actually hold

Founders often assume one account. In practice, a foreign-invested company typically ends up with a small family of accounts:

Basic deposit account (基本存款账户)

This is your main operating account. A company can generally have only one basic account, and it is the account used for payroll cash withdrawals, day-to-day receipts and payments, and as the anchor for other accounts. You typically open it after the business licence is issued and the company's seals are made.

General deposit accounts (一般存款账户)

These are additional operating accounts, for example with a second bank or for a specific purpose such as loan repayment or project funds. They cannot be used for cash withdrawals in the way the basic account can.

Foreign exchange capital account (外汇资本金账户)

If shareholders will inject registered capital from abroad, the company opens a foreign exchange capital account. Incoming capital is registered with the foreign exchange system, and conversion and use of the funds follow current foreign exchange rules. Your bank's international or cross-border desk usually handles this, and the process is closely tied to your company's registration details.

Other specialised accounts

Depending on your business you may also need a foreign currency settlement account for trade, an account for a specific regulated activity, or a separate account if you operate in a free trade zone with different rules. Ask the bank what applies to your situation rather than assuming.

Choosing a bank: what actually matters

There is no single best bank. The right choice depends on your size, your investors, your payment flows, and where your people are.

• International vs. domestic banks. Large international banks can be comfortable for founders used to English-language service and cross-border connectivity, but their branch networks and SME offerings in China may be narrower. Domestic banks, including the large state-owned banks and joint-stock banks, have broad coverage and strong domestic payment infrastructure, but service quality and English support vary by branch.
• Branch, not just brand. In China, your relationship is often with a specific branch and a specific account manager. A helpful branch of a mid-sized bank can be far better than an unresponsive branch of a famous one. Ask other founders in your city who they use.
• Cross-border capability. If you will receive foreign currency from overseas parents, investors, or customers, check how the branch handles inward remittances, foreign exchange conversion, and the documentation it will ask for each time.
• Digital banking. Confirm that the online banking platform and corporate app work for someone who may not read Chinese fluently, and that approval workflows (tokens, U-shields, multiple authorisers) fit how your team will operate.
• Fees and minimum balances. Ask about account maintenance fees, transfer fees, and any minimum balance requirements. These are usually modest but should be understood up front.

The documents banks typically ask for

Requirements differ by bank and city, and the list can grow if your shareholders are offshore entities. A typical starting set includes:

• Business licence (original and copies, often with official company seal)
• Company seals: the official company seal, the financial seal, the legal representative's personal seal, and sometimes the contract seal and invoice seal
• Articles of association
• Legal representative's identity document; if the legal representative is a foreigner, their passport and, depending on the bank, entry records or a residence permit
• Identification of authorised signatories and the account handler, plus board or shareholder resolutions authorising account opening and signatories
• Proof of registered address, such as the lease or the address on the business licence
• Shareholder documents, which for corporate shareholders may need to be notarised, apostilled, or legalised and accompanied by translations
• Beneficial ownership information, consistent with the bank's know-your-customer and anti-money-laundering obligations
• For the capital account, supporting documents on the capital contribution and foreign exchange registration details

One practical tip: banks care a great deal about consistency. The names, addresses, and identification numbers on your documents should match across the business licence, seals, resolutions, and shareholder paperwork. Small mismatches are a common cause of delay.

What the process looks like, step by step

1. Complete company registration. You need the business licence before a basic account can be opened. The legal representative and authorised signatories should be identifiable and available.
2. Make the seals. Seals are required for account opening documents and are typically made shortly after registration.
3. Shortlist branches and speak to an account manager. Explain your shareholder structure, expected transaction flows, and whether you need a capital account. Ask for the exact document checklist in writing.
4. Prepare and pre-check documents. Have your corporate service provider or advisor review the pack before submission. Translations of foreign documents should be complete and consistent.
5. Attend the branch. In most cases the legal representative or an authorised person must appear in person, sometimes with the original seals. Some banks allow video verification for certain steps, but do not assume it.
6. Complete onboarding and activate online banking. Set up users, approval limits, and tokens, and test a small transaction.
7. Open the capital account if needed. This often happens in parallel or shortly after, and is tied to foreign exchange registration.

Realistic timelines and common delays

For a straightforward company with clean documents, opening a basic account can take anywhere from a few days to a few weeks from first contact, depending on the bank's onboarding queue and how quickly documents are corrected. The capital account and any foreign exchange steps can add time, particularly if shareholder documents need legalisation or translation.

Common causes of delay include:

• Inconsistent names or addresses across documents
• Missing or expired identification for signatories
• Shareholder structures that require extra beneficial ownership review
• Branches unfamiliar with foreign-invested company documentation
• Legal representative unavailable to attend in person

Budget for these rather than being surprised by them, and keep your advisor in the loop.

After opening: keeping the account healthy

Opening the account is the start, not the end. Banks in China monitor accounts on an ongoing basis, and dormant or unusual activity can trigger reviews or restrictions.

• Keep records. Retain contracts, invoices, and supporting documents for transactions, especially cross-border ones.
• Match purpose to flow. Use the capital account for capital and the operating account for operations; mixing them creates questions later.
• Respond to bank queries promptly. If the bank asks for updated information or supporting documents, treat it as a priority.
• Maintain minimum activity. If the company is pre-revenue, ask the bank how to keep the account in good standing.
• Review signatories and limits. Update the bank when staff change or when approval thresholds need adjusting.

Final practical notes

Talk to your bank early, ideally while company registration is still in progress, so you understand the checklist before you need it. Use a corporate service provider or advisor who has opened accounts for foreign-invested companies in your city; local experience matters. And treat the account setup as part of your compliance foundation, not an administrative afterthought.

This article is general information for founders and is not legal, tax, or financial advice. Banking rules and branch practices change, so verify the current requirements with your chosen bank and your professional advisors before you act.