Corporate Bank Account Opening Service Overview
A general settlement account is a current‑item foreign‑exchange operating account, serving as the primary daily corporate account for domestic and overseas capital receipts and payments.
Its core function is to process regular business‑related fund flows. The account can receive overseas export revenue and cross‑border service income, and make outward payments for international procurement, overseas service fees, staff salaries, office rent and routine administrative expenses.
Under current‑item foreign‑exchange rules, foreign currency earnings can be converted into RMB by presenting authentic commercial contracts and invoices. Foreign‑exchange settlement procedures are relatively convenient, with supervision mainly focusing on the authenticity of transaction background. Banks conduct routine document inspection according to actual business vouchers, making this account suitable for frequent daily capital inflows and outflows.
Important Note：Overseas shareholder investment capital is prohibited from being remitted to this operating settlement account.
Required Document Checklist
1.Business licence together with full set of official corporate seals
2.Identity certificate of the legal representative
3.Official foreign‑investment filing record
4.Standard business contracts matching enterprise operation scope
Standard Opening Procedure
We first prepare complete application materials and make an appointment with the selected bank. The bank will conduct preliminary review on enterprise qualification and business background, followed by an on‑site interview with the legal representative for identity verification.
After bank approval, the settlement account is activated for cross‑border remittance and domestic transfer. We then complete current‑item foreign‑exchange registration with the local foreign‑exchange authority.
The whole opening process generally takes 7‑12 working days.
Foreign‑Exchange Capital Account Introduction
A foreign‑exchange capital account is a special‑purpose capital‑item account, exclusively used to receive subscribed registered capital contributed by overseas foreign shareholders.
Enterprises must complete official foreign‑investment filing before opening this account, with registered capital amount, shareholding ratio and investment term formally recorded in government filing system. The account is only permitted to receive capital contribution remitted by overseas investors, with remittance remarks clearly marked as capital injection. No operating income shall be credited into this account.
There are two official settlement methods: willingness‑based settlement and payment‑based settlement. Foreign‑currency capital can be converted into RMB for corporate daily operational expenditure within the regulatory scope. Converted funds can only be applied to legitimate business costs. Fund diversion for inter‑company lending, shareholder fund transfer, arbitrage and unrelated external investment is strictly forbidden.
Important Note ：Capital utilisation is subject to strict supervision by SAFE. Unauthorized diversion of investment funds is not allowed.
Required Documents
1.Business licence and full set of official corporate seals
2.Identity certificate of the legal representative
3.Foreign‑investment filing confirmation
4.Company articles of association and capital contribution agreement
Standard Opening Procedure
We first check filed investment information and confirm the capital contribution schedule, then organise application documents and submit to the bank for reservation. The bank reviews the dossier and completes capital‑item foreign‑exchange registration. After approval, the capital account is activated for receiving overseas investment remittances.
We offer follow‑up guidance on capital inflow filing, foreign‑currency conversion and compliant fund expenditure.The whole opening process generally takes 8‑14 working days.
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Frequently Asked Questions
Yes. Foreign investors can establish a Wholly Foreign-Owned Enterprise (WFOE) in most industries and maintain 100% ownership without a Chinese partner.
No. Most industries allow full foreign ownership. However, a few restricted sectors may still require Chinese participation.
The WFOE (Wholly Foreign-Owned Enterprise) is the most popular structure because it gives investors full operational control.
Most companies can be established within 4–8 weeks, depending on the city and business scope.
The required documents may vary depending on the company structure and location. In most cases, foreign investors will need to prepare:
- Valid passport (original passport or notarized/authenticated documents may be required)
- Proposed company name
- Business scope
- Shareholder and director information
- Registered business address in China
In many cases, yes. Most incorporation procedures can be completed remotely through authorized service providers.
China now uses a subscribed capital system. Capital does not always need to be paid immediately.
Yes. A registered company can legally recruit Chinese staff and contribute to social insurance.
Yes. After tax registration, companies can issue official VAT invoices (Fapiao).
Yes. After incorporation, the company can apply for corporate bank accounts with Chinese banks.
A Free Trade Zone is a special economic area that offers streamlined administrative procedures and policies designed to facilitate international business and investment.
The Shanghai Free Trade Zone is one of China’s most established FTZs and remains a preferred choice for multinational corporations, international traders, and financial services companies.
Benefits may include:
- Simplified registration procedures
- Easier customs clearance
- Enhanced cross-border trade support
- Access to pilot policy programs
- Greater operational flexibility
