Published · Catalan

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: documentation, bank choices, the role of the basic deposit account (基本存款账户), foreign-exchange and cross-border considerations, timelines, common friction points, and good practice. General information only, not legal or tax advice.

Opening a corporate bank account is one of those China setup tasks that looks administrative and turns out to be strategic. Your bank account determines how you receive capital, pay staff and suppliers, settle taxes, and move money across the border. For foreign founders, the process is doable, but it rewards preparation. This article explains how corporate banking in mainland China generally works, what documents you will typically need, and where founders most often get stuck.

This is general information for planning purposes only. It is not legal, tax, accounting or financial advice. Rules and bank practices vary by city, bank and the specifics of your company, and they change over time. Confirm requirements directly with your bank and with a qualified local adviser.

The two accounts you will hear about first

Chinese corporate banking distinguishes between a basic deposit account (基本存款账户, often called the "basic account") and general deposit accounts (一般存款账户). The distinction matters more than it does in many other markets.

• Basic deposit account: the company's primary account. It is where day-to-day operating funds sit, and it is the account through which salaries and cash withdrawals are typically handled. A company generally has one basic account, held at one bank branch. Operating without one is impractical.
• General deposit accounts: additional accounts for specific purposes, such as a second bank relationship, project funds, or loan disbursement. You can open these after the basic account exists.
• Special-purpose accounts: used for designated purposes such as certain capital or project funds. Your bank can explain when these apply.

Foreign-currency and cross-border needs are usually handled within the same banking relationship, sometimes through dedicated foreign-currency accounts. Ask early about how the bank handles foreign-currency receipts, conversion and outbound payments, because not every branch is equally experienced with foreign-invested companies.

When can you open the account?

In broad terms, the company must exist as a legal entity and hold its business licence before a corporate account can be opened. The sequence usually looks like this:

• Complete company registration and obtain the business licence.
• Have the company seal set made and registered as required in your city (company seal, legal representative seal, finance seal, and so on).
• Complete tax registration and related onboarding with the tax authority.
• Choose a bank and branch, and book an appointment.
• Submit the account-opening application and supporting documents.
• Complete the bank's onboarding, including know-your-customer (KYC) and anti-money-laundering checks.

The legal representative (法定代表人) is central to this process. Banks typically require the legal representative to appear in person, or to complete identity verification through an approved remote process if the bank offers one. If the legal representative is a foreign national based abroad, plan the trip or confirm remote options well in advance, because practices differ by bank and city.

Documents you should expect to prepare

Requirements vary, but a typical corporate account application for a foreign-invested company involves:

• Business licence (original and copies, as requested).
• Articles of association and, where relevant, the foreign-investment information report or filing records.
• Identification of the legal representative, and of authorised signatories and any account handlers.
• Company seals, as required by the bank.
• Proof of registered address, such as a lease or address-use document.
• Shareholder and beneficial-owner information, often including identification documents and ownership structure charts for corporate shareholders.
• Board resolutions or written authorisations for signatories, where the bank requires them.
• Tax registration information and, in some cases, social-insurance or other onboarding records.

Bring more than the minimum. Banks frequently ask for supplementary documents during KYC review, and a missing item can restart the clock. If documents originate overseas, ask whether notarisation, apostille or translation is needed for your specific case.

Choosing a bank: practical criteria

There is no single best bank. Compare branches on the criteria that matter to your business:

• Foreign-exchange capability: experience with foreign-currency capital contributions, cross-border payments and documentation for outbound remittances.
• English-language support: online banking interfaces, statements and relationship managers who can work in English.
• Digital banking quality: how much can be done remotely, and how approvals and payment limits work.
• Branch proximity and service: a branch that understands foreign-invested companies is often worth more than a marginally better fee schedule.
• Fees and minimum balances: account maintenance, transfer fees, foreign-exchange spreads and any balance requirements.
• Sector fit: some banks are more comfortable with particular industries, trade patterns or payment flows.

It is common for founders to speak with two or three banks before committing. Ask specific questions: What documents do you need from a foreign shareholder? How long does onboarding usually take for a company like ours? Who handles foreign-currency receipts? What are the online payment limits and approval workflows?

Realistic timelines and common friction points

Timelines vary widely by city, bank and the completeness of your documents, so treat any estimate as indicative. Founders most often lose time on:

• Legal representative availability: in-person attendance or verified remote identity checks can become a scheduling bottleneck.
• KYC and beneficial-ownership review: complex offshore holding structures invite more questions and more documents. Prepare clean ownership charts and explanations of your business model.
• Address evidence: registered-address documentation that does not match the bank's expectations is a frequent cause of delay.
• Seal requirements: missing or mismatched seals can stall signing.
• Foreign-currency documentation: capital contributions and cross-border payments require supporting documents; clarify the bank's checklist before funds move.

Practical tip: assign one person internally to own the bank onboarding, keep a single document pack with everything in one place, and log every request from the bank. Responsiveness matters, and a well-organised applicant tends to move faster through review.

After the account is open

Opening the account is the start, not the finish. Set up online banking and confirm user roles and approval limits. Understand how the bank handles payment approvals, statements and reconciliation exports, and connect the account to your accounting workflow. Clarify foreign-exchange procedures before you need them, not on the day a payment is due. Keep shareholder, director and signatory records current, because banks periodically refresh KYC information and mismatches can freeze activity at inconvenient moments.

Bottom line

For foreign founders, a corporate bank account in China is a preparation exercise more than a negotiation. Get the entity, seals, tax onboarding and ownership documentation in order; choose a branch with genuine foreign-invested-company experience; and confirm foreign-exchange and digital banking details early. Rules and bank practices differ by city and institution, so verify every requirement with your chosen bank and take advice from qualified local professionals before you act.