The Process Of Opening A Chinese Bank Account

Chinese banks highly recommend that the legal representative is physically present in China and brings their original passport for the account opening.
However, if you cannot be present in China due to other reasons, some Chinese banks are now accepting video applications as well.

The latest internal and regulatory compliance policies can be met. The bank can validate this video as part of their internal compliance process.

Once the video application is accepted, a bank representative will perform a site visit. If satisfactory, the bank will go ahead and approve your bank account.

Additionally, the person representing the company in China will have to visit the bank with the required documents of its legal representative as stated above. The bank staff will conduct a real-time authentication call with the legal representative to confirm the opening of the account.

While this may sound like a lengthy process, many commercial banks are trying to facilitate this with leniency to help all the new clients with alternative solutions. In fact, some banks can organise a virtual interview, under the condition that the legal representative’s documentation is notarised at the Chinese Embassy or Consulate of the country they reside in.

Documents required for account opening: