Opening a Corporate Bank Account in China

After registering a company in China, the next step is to open a corporate account. We help with selecting the appropriate account type, collecting documents, submitting applications to the bank and remote activation — quickly and hassle-free.

Types of Companies for Which We Open Accounts

For Offshore Companies

For offshore companies (non-residents), three types of accounts are available in China for business purposes, each of which has its own features, requirements and level of remote accessibility:

1. Non-Resident Account

Allows for settlements. An account with free fund transfers abroad in foreign currency can be opened for offshore companies in Standard Chartered Bank. The application is submitted remotely, identification is carried out via video call, and documents are sent by mail. In rare cases, the bank may request a video conference in English with the company’s director or shareholder. This is the easiest account to open in China.

2. Offshore Account

This is a yuan account opened for offshore companies in mainland banks. One of the most popular options is an account in Bank of Ningbo, under the Hong Kong LLC structure. The account allows for settlements in yuan (RMB) and is often opened for Chinese business operations.

3. Free Trade Non-Resident Account

Allows not only free operations in foreign currency, but also settlements in Chinese yuan (RMB) with mandatory company registration. Accounts are opened at China Everbright Bank Co., Ltd. or Shanghai Pudong Development Bank Co., Ltd. (FTN/FTA accounts). Similar to the Non-Resident Account, an active Chinese company in the name of a shareholder or director is required. Opening is possible online — via video call. We handle the entire process.

For Mainland Companies

For companies registered in Mainland China, the following are available:

1. Basic Deposit Account

The main settlement account used for daily operations, including payments and fund receipt. Can be opened in major banks such as ICBC, Bank of China, and Bank of Communications. Online opening is possible via video call.

2. Capital Account

An account used exclusively for depositing authorized capital. Available in most banks. May be opened remotely via video call.

3. Foreign Currency Settlement Account (General Deposit Account)

An account used exclusively for foreign currency transfers and settlements; includes both non-cash and cash settlements. Available in most banks. Online application and video call identification are possible.

Required Documents

For Offshore Companies:

• Certificate of registration;
• Company Charter;
• Contract (2 parties + 2 languages) confirming business activity.

For Mainland Companies:

• Business license;
• ID documents of directors, shareholders, legal representative;
• Chinese mobile number and registered USBKey.

Account Opening Timeframes

• Opening a corporate account in China on average takes from 1 to 4 weeks, depending on the type of company and bank;
• It is possible to open multiple accounts for different payment purposes — for example, one for RMB payments, another for foreign currency payments;
• All accounts can be connected to internet banking and managed remotely.

Why Choose Move to Agency for Opening an Account in China

• Account opening without traveling to China — the entire procedure is done remotely: online identification, preparation, and submission of documents without your personal presence.
• Full-service support — we handle the entire process: collecting and verifying documents, coordinating with the bank, visiting the bank via our representative, connecting internet banking, and monitoring until account activation.
• We work with various banks and in any currency — we open both RMB and foreign currency accounts (USD, EUR, etc.), including accounts for companies in Free Trade Zones (FTZ).
• Risk minimization and compliance — we closely monitor changes in the SAFE (State Administration of Foreign Exchange) and CBRC (China Banking Regulatory Commission) regulations, analyze your case, and offer only compliant and reliable options to minimize rejection risks and ensure full regulatory alignment.

FAQ

1. Which bank is best for opening an account?

It all depends on your company’s objectives. We work with major state-owned and commercial banks in China (for example, ICBC, Bank of China, China Merchants Bank), and we select the appropriate bank and account type based on your business model, currencies, and jurisdiction.

2. What is a USBKey and why is it needed?

It is a device for electronic signature and transaction confirmation in online banking. Without it, it is impossible to make transfers or use most internet banking functions.

3. Do you open accounts for companies in FTZ (Free Trade Zones)?

Yes. We work with companies in FTZs, including the opening of FTZ-specific accounts, which offer additional advantages for foreign currency transactions.

4. Can an account be opened for a company that is not yet registered in China?

Yes, if you have a foreign company and want to obtain a settlement account in a Chinese bank, we will advise you on possible options — for example, using a structure through an agency or a partner company.