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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: required documents, the role of the basic deposit account, common friction points, timelines and practical tips. General information only, not legal or tax advice.

For most foreign founders, the company registration paperwork feels like the hard part. Then comes the bank account. In mainland China, a corporate bank account is not a formality you can delegate to a signature and a stamp: banks apply strict know-your-customer (KYC) checks, and the process can take weeks if documents do not line up. This guide walks through what to expect, what to prepare and where founders typically get stuck.

This article is general information for planning purposes. It is not legal, tax or financial advice. Requirements vary by bank, branch and city, and change over time. Confirm everything with your bank and with a qualified local adviser before you act.

First, understand the account types

Chinese banks distinguish between several categories of corporate account. The two that matter most at the start are:

• Basic deposit account (基本存款账户, jiben cunkuan zhanghu). The company's primary account. It is the only account from which you can withdraw cash, and it is typically required before you can open other accounts or handle payroll and tax payments. A company can have only one basic account, and it must be opened at a bank branch with the appropriate licence for the company's registered location.
• General deposit account (一般存款账户, yiban cunkuan zhanghu). Used for specific purposes such as receiving loan proceeds, settling with a particular counterparty or managing a separate project. A company can hold several, but they cannot be used for cash withdrawals.

There are also special-purpose accounts (for example, for foreign exchange capital, payroll or tax) and temporary accounts. For most newly registered foreign-invested enterprises (FIEs), the sequence is: open the basic account first, then add the others as needed.

Which bank should you choose?

Broadly, you have three options.

Large state-owned banks

Branches of the big state-owned banks are everywhere, have deep foreign-exchange capabilities and are well known to local authorities. They can be bureaucratic, and service quality varies a lot by branch. For companies that will receive foreign capital and need to convert currency, they are a common default.

Joint-stock and city commercial banks

These institutions often compete on service and speed, and some have dedicated teams for foreign-invested companies. Their international network may be thinner, which matters if you need correspondent banking relationships in specific countries.

Foreign bank branches

International banks with branches in China can be convenient if your group already banks with them, but they tend to focus on larger clients and may not offer full retail-style corporate services to small entities.

In practice, the branch manager and the relationship team matter more than the logo. Ask other founders in your city which branch handled their onboarding smoothly, and ask the bank directly whether the branch is authorised to open a basic account for a company registered at your address.

Documents you will typically be asked for

Exact lists differ by bank and city, but a new FIE should expect to provide, at minimum:

• Business licence (original and copy), with the unified social credit code
• Articles of association and, where applicable, the foreign investment approval or filing record
• Legal representative's identity document (passport for a foreign national) and, in many cases, their physical presence at the branch or a notarised power of attorney
• Company seal, financial seal, legal representative seal and, where used, the invoice seal (the exact set depends on your registration)
• Proof of registered address, such as a lease or property certificate
• Beneficial ownership information, including the ownership chain up to ultimate beneficial owners, with supporting corporate documents for overseas shareholders
• Board resolution or shareholder resolution authorising the account opening and appointing signatories
• Tax registration information and, for foreign-exchange accounts, supporting documentation for capital contributions

Overseas corporate shareholders often need to provide notarised and legalised (or apostilled, where applicable) documents, plus Chinese translations. This is a frequent source of delay: get the paperwork started early and confirm the format the bank will accept.

The onboarding process, step by step

1. Pre-screen with the bank. Before you visit, send the bank your company details and ask which branch can handle your registration address and business scope.
2. Book an appointment. Account opening usually requires the legal representative or an authorised signatory to attend in person. Budget half a day.
3. Submit KYC and beneficial ownership documents. Expect questions about your business model, expected transaction volumes, main counterparties and source of funds.
4. Complete the basic account opening. The bank will register the account with the local authorities. In many cities there is a short waiting period before the account is fully activated.
5. Set up online banking and payment tools. You will receive tokens or certificates, and you will need to configure approval workflows and payment limits.
6. Add foreign-exchange and capital accounts. If you are bringing in registered capital, you will typically need a foreign exchange capital account and may need to complete foreign-exchange registration.

Timelines vary widely. A straightforward domestic-owned company might open an account in a week or two; an FIE with overseas shareholders and complex ownership can take several weeks, especially if documents need re-issuing. Do not plan payroll or supplier payments on the assumption that the account will be live by a fixed date.

Common friction points for foreign founders

• Legal representative presence. Some banks require the legal representative to appear in person. If that person is abroad, ask whether a notarised power of attorney is acceptable, and confirm the exact wording.
• Beneficial ownership clarity. Vague ownership chains, nominee arrangements or offshore holding structures without supporting documents slow everything down.
• Business scope mismatch. The bank may question transactions that do not obviously fit your registered business scope. Keep your scope broad enough at registration to cover realistic activities.
• Seals. Physical company seals are still central to banking in China. Know where they are, who controls them and how they will be used for account opening and payments.
• English-language support. Larger branches in major cities usually have English-speaking staff, but do not assume it. Bring a Chinese-speaking colleague or interpreter if needed.
• Ongoing compliance. Banks periodically review accounts and may ask for updated documents, explanations of transactions or confirmation of beneficial owners. Respond promptly; dormant or unexplained activity can lead to restrictions.

Practical tips before you start

• Talk to the bank before finalising your registered address. Some addresses are harder to onboard than others.
• Prepare a one-page summary of your business: what you sell, who your customers and suppliers are, expected monthly volumes and where the money comes from.
• Keep scanned copies of every corporate document in one shared folder, in the format the bank requests.
• Ask about fees, minimum balances, payment limits and foreign-exchange conversion spreads up front.
• Consider opening a second account at a different bank once the basic account is live, so a single bank issue does not stop your operations.
• Work with a local accountant or corporate services firm that has opened accounts for FIEs in your city; their familiarity with the branch can save weeks.

The bottom line

Opening a corporate bank account in China is manageable if you treat it as a compliance project rather than an administrative errand. Expect document checks, in-person attendance and questions about your business, and prepare accordingly. Requirements are set by individual banks and local regulators and can change, so verify the current list with your chosen branch and take professional advice on your specific structure. Get the paperwork right early, and the account becomes one less thing between you and your first customer.