Intelligent Solution Group > Services > Opening a Chinese bank account

Opening a Chinese bank account

A corporate bank account in China is the solution to the problem of money transfers to and from Europe, the Americas and Asia.

The account can be opened remotely, even by non-residents from CIS countries.

Price: €10 000

A company in Hong Kong + an account in China are necessary if you run an international business and carry out transfers in different currencies, including Chinese yuan (CNY).

Advantages

payments via the Chinese money transfer system, including multi-currency payments

SWIFT availability

the company director can open a personal account (free of charge)

you can order a UnionPay plastic card

What are the requirements set by a Chinese bank for opening a corporate account

1

The bank takes a favourable view of companies registered in Hong Kong, Australia, Singapore, the UK, the Marshall Islands, the Seychelles, the Virgin Islands, the Cayman Islands, etc. However, the bank makes the final decision based on the nature of the business; priority is given to sectors such as trade and logistics.
2

A local business entity is required to open an account.

3

The bank operates with the following currencies: CNY, USD, EUR.
4

The bank processes payments via the SWIFT payment system and the Chinese remittance system.

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You will need to compile the documents required to open an account with a Chinese bank and send them to us so that we can process them and get the process underway.

Steps for opening a corporate bank account in a Chinese bank

We review your business activities, counterparties and transactions

We collect and submit the documents to the bank for pre-approval

We provide the venue – an office space in Shanghai that the bank manager will visit

We’ll get a client code for you

We assist with completing the client questionnaire and collect copies of the documents that need to be provided

We are sorting things out with the authorised representative

We open a bank account and assist with negotiations with bank staff

If necessary, we can help you set up online banking and make transfers

Intelligent Solution Group staff complete applications, forms and CVs.

Additional services

charged separately

verification of the source of funds;
setting up online banking;
making payments;
financial accounting reports;
compliance checks;
withdrawing funds from frozen accounts.

What specific documents do I need to prepare to open a corporate account with a Chinese bank?

To open an account with a Chinese bank, a standard set of documents is required, including the company’s incorporation documents, a certificate of registration, information on beneficial owners, passport details of the director and authorised representatives, as well as proof of local substance—an office lease in China. The exact list of documents depends on the requirements of the specific bank, and we will help you prepare all the necessary paperwork.

How does the bank manager’s inspection and visit to the office in China (substance) take place? Is the presence of a company representative required?

The bank manager does indeed visit the office you rent in China to confirm local presence (substance). The director or company representatives do not need to be present in person for this — we can organise the entire process through an authorised representative to make the procedure as straightforward as possible for you.

Is it possible to manage a corporate account in China entirely remotely once it has been opened?

Yes, once your account has been successfully opened, you will have access to a modern online banking platform that allows you to manage your finances remotely: make payments, track transactions and manage foreign exchange operations without having to visit the bank in person.

Cases:

CASE: How to recover frozen $600,000

The client faced a problem with frozen funds in the account of his international company. The bank where the account was held was in the process of liquidation and froze all funds while starting an audit of its clients.

CASE: Forgotten $400,000

Our client decided to completely liquidate his company, established about 10 years ago in Latvia. During the liquidation process and communication with the bank, we discovered that the client had $400,000 in the account for several years — money everyone had forgotten about.