How a Foreigner Opens a Business Bank Account in China

Your Chinese company is registered, the license is framed on the wall, and you type “open corporate bank account” into a search bar, only to land in thirty forum threads that all finish the same way: just go to the bank. Fine. Here is what “just go to the bank” looks like in 2026, in order.

TL;DR: the 30-second version

• You can open a corporate account as a foreigner. Plan on one to three weeks from first visit to first working transfer.
• The license, the company chops and the legal rep’s passport get you most of the way.
• Every company gets one basic account. Everything else is a general account, and the basic one always comes first.
• Opening is usually free or cheap; the small maintenance fees are the real recurring cost.
• If you will receive money from abroad, say so on visit one — foreign-currency accounts mean extra paperwork.

The short answer

The short answer: yes, foreigners can open a business bank account in China, and for a normal company it takes about one to three weeks. You need the original business license, the company chops, the legal rep’s passport and at least one in-person visit. Budget for two visits.

What the bank actually wants

Chinese corporate accounts are opened with plastic boxes of seals, not emailed signatures. Get a red box made at any seal shop (kezhang dian, seal-carving shop) and order at least these two chops:

• Gongzhang (company seal) — the round red one, the company’s identity. It goes on every bank form.
• Caiwu zhuanyong zhang (finance seal) — the bank’s second required chop.

Then bring: the business license (original plus a copy stamped with the gongzhang), the legal representative’s passport and the Articles of Association. If the company is brand new, expect the bank to ask where the registered address is and whether anyone actually works there. That is anti-money-laundering checking.

The basic account versus the general account

This is the fact nobody tells you, and it explains everything: a company may hold only one basic deposit account (jiben cunkuan zhanghu) — the account that pays wages and is tied to the tax bureau. Every other account is a general deposit account (yiban cunkuan zhanghu), and you can hold several. You open the basic one first, and the bank reports it to the tax bureau for you (companies used to have 15 days to file that themselves; most banks just handle it now — ask to confirm).

What the branch visit looks like

Book a time. Many branches in tier-1 cities run appointments for corporate accounts, and showing up unannounced on a busy Friday can mean a two-hour wait.

1. Bring everything from the list above.
2. Expect a real-name interview: who you are, what the company does, who the actual boss is. A foreign legal representative is normal in 2026.
3. You will register the legal rep’s signature on the account. Some branches want the chop pressed on a sample card, others accept a signature — ask before you start.
4. Get the U-shield (U dun), the USB key that signs transfers. Most banks issue one free; losing it costs.
5. Ask about online banking limits. Default daily caps are often low, and lifting them is a separate request.

What it costs, roughly

Opening is frequently free at the big banks. The recurring bill is small: maintenance fees mostly land in the 100-600 RMB per year range at state-owned banks, and some city commercial banks still charge nothing in year one. Deposit insurance, run by the People’s Bank of China, protects up to 500,000 RMB per depositor per institution — unchanged as of 2026.

One real trap: an account that goes quiet for many months can be flagged and frozen under tighter anti-fraud rules. Keep a trickle of activity, or at least answer the bank’s calls.

If your money comes from abroad

Receiving a transfer from overseas is not automatic. A standard corporate account handles RMB fine; foreign currency needs its own arrangements, and shareholder capital injections mean a dedicated capital account plus registration with SAFE. Banks with strong international desks — Bank of China and China Merchants Bank are the usual picks — handle this more smoothly than small city banks.

Quick answers

Q: Can a foreigner open a business bank account in China? A: Yes. Foreign-owned companies open corporate accounts every day; the legal representative just appears in person with passport and chops.

Q: How long does it take to open a business bank account in China? A: Typically one to three weeks. A clean first visit plus the bank’s internal checks is often under ten working days; a missing document pushes it past two.

Q: What is the difference between a basic and a general account? A: One basic account per company, tied to payroll and the tax bureau; several general accounts for everyday business. The basic one always comes first.

Q: How much does a corporate account cost in China? A: Opening is often free; maintenance usually runs 100-600 RMB per year.

Editorial review: EasternReset Team · Snapshot: 2026-09. Found an error? Email us.