How to Open a Business Account in China as a Foreign Investor?

As a foreign traveler in China, you will find it is quite convenient to have your own personal bank account opened in China especially you can add your personal bank card to the Alipay or WeChat payment.

As a foreign investor, you will have legitimate rights and obligations to open a business account after your china company registration.

There are a lot of China local banks and international banks layout in China for you to choose from. Due to the convenience of E-document signing, and quick response between the bank and the tax burau, the significant Big Four state-owned banks are recommended for business account opening.

The Big Four (Four large state-owned Banks):



ICBC (Industrial and Commercial Bank of China)

ABC (Agricultural Bank of China)

BOC (Bank of China)

CCB (China Construction Bank)

Firstly, prepare documents for China business bank account opening.

Business account types are RMB Basic Account and Foreign Currency Account. The RMB basic account is the account for daily business operation and this is the bank account for RMB withdraw. Foreign currency account enables the efficiency of handling international business while receiving foreign currencies. The foreign currency should be converted to RMB currency into the RMB basic account after enter the account. The documentation preparation requires personal identification file with related company licenses.

Secondly, make an appointment with the bank beforehand

The China corporate bank account opening must be arranged several working days ahead at least to ensure you could squeeze into the tight schedule of the local banks. Not all bank staff could speak fluent English, Business China will authorize one colleague to accompany you to make sure all the procedures are understandable and smoothly.

Thirdly, make sure you are always phone reachable for the bank

The bank staff prefers to call you (legal representative) if need to confirm with you some updated banking information. So please make sure you are reachable for them, otherwise it could be very difficult to have a nice maintenance of the corporate bank account.