Opening Chinese Business Corporate Bank Accounts for foreigners ( Non Residents ).

In order to do business in mainland China after your Chinese company incorporation, foreign enterprises need to apply for corporate accounts from local banks, and as we know, there are too much increasingly challenging to open it for foreigners and most of these local banks need the legal representative of company to present and through face to face then can be accepted to open the bank accounts.

But you do not worry about this problem, we have strong resource and trustworthiness with Chinese local banks and we have cooperated together long time, our great relationship and rich experience of opening bank accounts in mainland China can assist foreign enterprises obtaining approval without arriving bank office, and your bank accounts can be approved within 5 working days by using our services.

Process of Opening a Chinese local bank for foreign Companies

When your company placing an order to Chinese business banking, if you are not a Chinese local resident and same time you also as the legal representative of China company, your passport or identity need to be inspected from bank office, or you can apply for a notarized and authenticated passport copy from China Embassy in your home country, this legal documentation issued by China Embassy is also can be accepted to apply for bank accounts. And all steps and procedure of opening bank accounts you may ask our accountants to complete it.

Your Chinese bank accounts generally can be approved within 5 working days, whole process is not necessary to enter into mainland China in person for non Chinese residents. All Chinese required documents and forms of application will be submitted in time. Certainly, sometimes maybe meet a bit delay because banks and Chinese foreign exchange department need to do some due-diligence checks for legal representative from different countries. If your passport has bad records before you opening a corporate bank account, local banks and government departments have the rights to reject your application.

What documents, forms and compliance of files are required to open a China account

1. Foreign investment enterprises certificate of registration
2. Company stamp, financial seal and seal of legal representative
3. Original and copy for business license
4. Recent utility bill for your registered office address
5. Lease contract of registered address ( or physical / actual office )
6. Articles of association and corporate resolutions
7. Original passport of legal representative ( or notarized and authenticated passport from China Embassy )
8. List of board of directors, members of board of shareholders
9. Country of origin of registered capital and currency registration
10. Letter of authorization and forms of application and registration
11. Fixed-line telephone and office zip code
12. Financial administrator and senior management officer
13. Foreign exchange business registration certificate
14. The due-diligence checks for nationalities of actual controlling persons
15. Industrial properties and code and business entity self certification
16. Investigating information for countries and areas code of foreign investors
17. Certificate of institution credit code and application forms

Depending on different circumstances, local banks and foreign exchange departments may also ask for non residents from different countries and industries to submit additional documents, files and information. Although its a difficult task to open a China limited company bank account, but government departments and local banks office also need checking many information and documents and then can give non residents the decision if they accept you as a client.

Don’t worry about these troublesome works, our experienced senior consultants have the sufficient confidence to face these difficulties. Our accountants and secretaries services are fully capable to provide any assistance to non residents opening a local Chinese bank account for foreign entities who are planing to set up companies in mainland China.

Other required documents you have to prepare when you decide opening a bank account

List of Requirement:File / Documents Description:
Approved 5-in-1 business licenseOriginal business license and copy with company stamp
Certificate of foreign owned enterprises (known as: approved certificate of business registration of foreign invested enterprises).Original business license and copy with company stamp
Identity certificate of China company’s legal representativeChinese people needs original ID card and copy Foreign people (nonresidents) needs original passport with entry record within 6 months (if the foreign legal representative does not want to visit China, can issue notarized passport from China embassy instead of original passport).
Application forms of opening bank accountYou can entrust a local accountant going to bank and filling in the information and submit to bank to get approval.
Make a videoCorporate legal representative (know as executive director) takes his/her passport in hand and read the required content (contain the company registered number, tax ID, and passport number and other information).
Appointment letterEntrust document signed by the legal representative

What SMEsChina providing?

  • Assist global customers to jump into China market.

  • Collection, approval, and verify the documentation prepared by customers and our teams.

  • Offer a legal virtual office address to obtain the approval of registration.

  • Name search and submit application, get the approval of the corporate name.

  • Documents and forms preparation, and signature of the corporate shareholder(s).

  • Apply for the certificate of registration of foreign owned enterprise approved by the local Municipal Commission of Commerce.

  • Obtainment of the business registration license from the local licensing authority, know as: 5-in-1 business license.

  • Issuing of the corporate stamps, known as corporate seals.

  • Documents collection and submitting for tax registration, and VAT taxpayer application.

  • Basic and capital accounts opening and capital account declaration.

  • Government cost, translate fee, and drafting of the legal files and forms.

  • Import and export license registration and permits application.

  • Yearly administrative and maintaining services, such as license renew.

  • Annual bookkeeping and tax declaration services for income tax report, annual audit, government inspection, tax final settlement.

  • Other optional service selections, such as: HR, social insurance, housing fund, VISA and resident permit, trademark, etc.

Ready to Start and Launch a Business in China? So Are We.

SMEsChina teams focus on the growth of enterprise and providing a variety of business solutions in the area of strategy consultancy, WFOE setting up services, business registration, company formation, incorporation of domestic invested enterprise, finance and audit services, HR and payroll, corporate bank account, resident permit, immigration and visa, trademarks and legal compliance.

China is attracting more and more foreign companies, SMEs,entrepreneurs, startups, brands to invest and establish their business entities through reforming various laws and regulations actively. More than 47 million companies and small medium enterprises have registered their business entities in mainland China and over 3.5 million new enterprises are incorporated during each financial year with comfortable process of registering companies. Here SMEsChina is sharing our knowledge and business insights to global enterprises and companies for better learning the regulations and rules of China corporations running and corporate maintaining. All reference and guidance collected by SMEsChina Teams in accordance with the latest implemented laws of the People’s Republic of China on Wholly Foreign-Owned Enterprises ( WFOE ), Joint Venture ( JV ) and Limited Liability Company ( LLC ), Limited Liability Partnership ( LLP ), and other relevant and officially promulgated regulations and rules on the corporation formation and registration of industrial and commercial enterprises and related IP laws, immigration and resident policies ( VISA ), tax laws.

SMEsChina teams happy to work around you and look after your daily China operations confidently and smoothly. Check if setting up a private company is right for you, if you have everything to set up a business in Mainland China, you can get in touch with our teams to get more useful information and online guidance.

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