Guides
Opening a China WFOE Bank Account
How WFOE bank account opening works after the business licence: RMB basic accounts, foreign-currency capital accounts, KYC, SAFE considerations, and common delays.
A China WFOE normally needs a domestic bank account before it can receive capital, pay salaries, or settle local suppliers. Account opening is a post-licence process governed by bank KYC — not by the AMR business-licence clock.
Direct answer: when can you open the account?
Usually after the business licence is issued and company chops exist. Banks then run beneficial-ownership checks, interview the legal representative or authorised signatory, and may verify the registered address. Timelines vary from about one week to several weeks depending on bank, city, and document quality.
Account types foreign investors commonly need
| Account | Purpose |
|---|---|
| RMB basic deposit account | Day-to-day receipts and payments in China |
| Foreign-currency / capital account | Receiving overseas capital contributions (subject to bank and foreign-exchange rules) |
| Online banking | Approvals, payments, and multi-user controls |
Exact product names differ by bank. Some groups also open accounts for tax refunds or special purposes later.
What banks typically require
- Business licence and company chops
- Articles of association and officer identity documents
- Beneficial ownership structure of the foreign shareholder
- Lease or address evidence
- Board resolutions appointing account signatories
- In-person appearance by the legal representative or bank-accepted attorney (policy varies)
AMR acceptance does not guarantee bank acceptance. Banks apply their own risk policies, especially for complex offshore holding chains.
Capital injection sequencing
Plan registered-capital payment timing with the bank relationship manager. Under current Company Law contribution frameworks, capital must be paid according to the articles within the applicable statutory period — but operationally you still need a working account path before payroll and rent.
Common delay causes
- Legal representative cannot attend when the bank requires presence
- UBO chart incomplete or inconsistent with apostilled parent documents
- English–Chinese company name mismatches
- Registered address fails bank site verification
- Business scope appears high-risk to the bank’s onboarding team
SAFE and cross-border payments
Cross-border capital and profit remittances involve foreign-exchange compliance (SAFE-related bank procedures). Treat remittance planning as a separate workstream from first account opening. Do not assume every bank branch has equal experience with foreign-invested clients.
Practical tips
- Shortlist banks with demonstrated WFOE onboarding in your city
- Align legal-representative travel with bank appointment slots
- Prepare UBO documents during the AMR phase, not after
- Keep chop custody and dual-control payment policies ready
Related guides
- Registration timeline
- Capital requirements
- Registration cost components
- China WFOE registration service
- Accounting support after banking
General information only — not legal, tax, or investment advice. Rules and local practice can change; confirm current requirements for your city, industry, and structure.