Open a Corporate Bank Account in China

The success of your international business operations depends on the bank that provides you with financial services. The Chinese bank that we are bringing for your consideration would be an optimal solution, and is available to companies from many jurisdictions. In addition to the Chinese yuan, you can use 16 more currencies to make and receive payments: USD, EUR, GBP, CAD, KRW, HKD, JPY, AUD, AED, MYR, SGD, THB, INR, RUB, IDR, and XOF. We can also help you set up a company in Hong Kong and reap the benefits of this bank.

Advantages of cooperating with the Chinese bank

If your company is registered in Hong Kong, the British Virgin Islands, the Canary Islands, or in some other jurisdictions, setting up a corporate account with our recommended Chinese bank is an easy task. If you wish, we would gladly assist you with registering a company in Hong Kong. If your company is registered in the EU, Kazakhstan, Uzbekistan, or the Kyrgyz Republic, an individual strategy will be required to set up an account with the bank.

Reasons to apply for services with the recommended Chinese bank:

• You can manage your account remotely – via online and mobile applications.
• It is possible to open a multi-currency account. The opportunity to make payments in sixteen national currencies is ideal for an international company.
• The bank offers a wide range of financial services, including interest rates on deposits, lines of credit, and loans.
• The bank has a large network of correspondent banks, which simplifies making international transactions.
• There are special programs and bonuses available to new corporate clients of the bank.
• There are no minimum balance/ security deposit requirements. 

The bank accepts applications for services from all jurisdictions.

A company in Hong Kong

If you’re yet to set up your company, or are open to forming another, probably the simplest and fastest way to acquire services from the bank is to use a Hong Kong-registered company. The bank administration welcomes Hong Kong companies because the corporate documents are written in Chinese, and no translation is required.

You would not need to send the company seal to the bank, which would avoid the possible difficulties with courier delivery. An original company seal can be made in China.

We would gladly help you register a company in Hong Kong. You’d have to take the following steps to achieve this goal:

• Send us a copy of your passport.
• Choose a name for your company.
• Pay the associated fees.

Your corporate documents will be ready within seven days.

Spheres of your company’s business activities

The bank will gladly cooperate with companies trading in physical goods and those providing shipment services.

The following types of business activities may provoke enhanced security checks on the part of the bank administration:

• Marketing
• Design
• Consulting services
• Software development, etc.

Documents required for opening a bank account in China

The bank administration is going to analyze your application documents and decide whether to accept you.

You have to supply the following information:

1. Indicate the currencies (apart from the yuan) that you are planning to use. A separate bank account would be set up for each currency. This fact is important to consider because an accountant’s management fee will be charged whether you use the respective accounts or not.
2. Supply a photograph of a working desk with a ‘company name’ sign.
3. Complete the KYC form.
4. Supply your corporate documents.
5. Supply a scan copy of the passport used by the company director for international travel.
6. Complete an agreement with the bank. If your company already has a bank account, its details should be supplied. If yours is a newly established company without a bank account, no account details are required.
7. Copies/screenshots of messages reflecting your business operations. The messages should be sent from a corporate email address or the company’s domain. Alternatively, the messages can be sent from the company director’s personal email address, but in this case, they have to carry the following information:
   • The name of the company (identical to the applicant company);
   • The name of the director (identical to the name of the applicant company’s director;
   • The position.

These documents will form an application document package that will be sent to the bank for consideration. Normally, application processing takes up to 5 days. You also need to make a non-refundable advance payment of 2750 Euros before submitting the documents. The remaining amount of the fee is paid after the bank confirms the application. If the answer confirms the application, you can go on to the next stage.

A visit to the bank

The company founder and director must personally visit the bank to set up an account. Alternatively, their representative* can visit the bank. The visitor has to bring the following documents with them:

• Passports of the company directors, owners, and guarantors (originals);
• Statutory documents;
• A square director’s seal (we’ll have it made).

In addition, you will need a Chinese SIM card. If you don’t have a Chinese telephone number, we’ll get one for you.

When the bank account is opened, the following documents will be sent to you with a courier:

• Personal IDs;
• Statutory and other corporate documents;
• Seals;
• Service agreement with the bank;
• Two pin-calculators;**
• Standard logins and passwords for entering the online banking application;
• Banking application user manual.

If you would like to pay a personal visit to the bank, these documents will be handed to you by a bank officer. Please note that you have to acquire a login and a password to use the banking application.

The in-app transaction confirmation system requires the use of both PIN calculators: one is needed to create a payment request, and the other to confirm it.

* Representative: a person (our staff member) who pays a personal visit to the bank and registers the PIN calculators in the name of the company owner/director. 

** Pin-calculators: the first pin calculator will be registered to the company director. The second one – to the guarantor. Both pin-calculators will be sent to you by mail.  

Use of the banking application

You have to change the standard (preset) login and password when accessing the banking application. You will have to enter your login and password every time you use the application and confirm your actions with the help of the PIN calculator.

If the PIN calculator is lost, broken, or blocked, you have to send the original of your passport to the bank to get a replacement.

You can perform banking transactions using an application that is compatible only with Windows.

Currency exchange between your accounts

Since you can have accounts in many currencies, you can exchange currencies with ease. Suppose you would like to exchange USD 10,000 for Euros. What you have to do is notify a bank manager (or a member of our staff), specify the amount, provide the account details, and exchange the currencies if you are happy with the exchange rate.

You can also exchange currencies in person at the bank. In this case, you’d have to complete a request form for currency exchange.

How to open a corporate account with the recommended Chinese bank?

If you are interested in this opportunity, please do not hesitate to contact our experts. 

We offer the following services:

• Assistance with collecting and preparing the application documents;
• Preliminary assessment of your chances of having a positive reply from the bank;
• Remote bank account opening;
• Settlement of any issues with the bank administration.

We guarantee the confidentiality of your personal information and sign an NDA.