Published · France

Opening a Corporate Bank Account in China: A Practical Guide for French Founders

A practical, plain-English guide for French founders on opening a corporate bank account in China: account types, documents, timelines, common friction points and how to prepare before you arrive.

Setting up a company in China is one thing; getting a bank account that actually works is another. For French founders, the bank account is often the step that quietly delays hiring, invoicing and repatriating funds. This guide walks through what to expect, what to prepare, and where the friction usually sits. It is general information only, not legal, tax or financial advice, and banking rules and individual bank practices change frequently, so confirm details with your bank and professional advisers.

Why the corporate account matters more than you think

In China, a company cannot really operate without a properly registered corporate bank account. Salaries, supplier payments, tax settlements, social insurance contributions and capital injections all flow through it. Many platforms and payment providers also require a verified corporate account before they will onboard you. French founders sometimes assume they can run early operations from a personal account or a Hong Kong account; that usually creates problems later with tax filing, invoicing and audit trails.

There are two broad categories to understand. The basic deposit account (基本存款账户) is the primary RMB account that a company can only have one of, and it is used for cash withdrawals and salary payments. General accounts (一般存款账户) can be opened for other purposes, and foreign currency accounts handle cross-border flows. Most newly established foreign-invested enterprises need at least a basic RMB account and a USD or EUR foreign currency account.

The usual sequence: registration first, bank second

You cannot open a corporate account before the company legally exists. The typical order is:

• Complete business registration and obtain the business licence (营业执照).
• Carve the company seals (official seal, financial seal, legal representative seal, contract seal). Seals remain central to Chinese corporate practice.
• Complete tax registration and, where relevant, foreign exchange registration.
• Then approach a bank to open the basic account.

If you are setting up a wholly foreign-owned enterprise (WFOE) or a joint venture, the capital contribution and foreign exchange registration steps matter for the foreign currency account. Your registered capital and the timing of injections should be clear before you talk to a bank.

Documents French founders should prepare

Requirements vary by bank and city, but a typical document set includes:

• Business licence (original and copies).
• Articles of association and incorporation documents.
• Company seals, including the official and financial seals.
• Legal representative's ID or passport, and sometimes a second authorised signatory's documents.
• Proof of registered address, such as a lease or property certificate.
• Shareholder and ultimate beneficial owner information, including parent company documents if applicable.
• Board resolution or written authorisation for account opening and signatories.
• For foreign currency accounts, foreign exchange registration documents and capital contribution evidence.

French parent company documents often need to be notarised, apostilled (France is a Hague Apostille Convention country) and translated into Chinese. Banks can be strict about translation quality and the wording of authorisations, so align your documents with your bank's checklist before submission.

Who needs to be there in person

In practice, the legal representative or an authorised signatory usually needs to appear at the branch, at least for the basic account. Some banks accept remote or video verification in certain cases, but this is not universal and depends on the bank, the branch and your corporate structure. If your legal representative is based in France, plan a trip or clarify alternatives with the bank in advance. Do not assume a power of attorney will be accepted without discussion.

Timelines: plan for weeks, not days

Account opening is rarely instant. Once documents are complete, a basic account may take anywhere from a few days to several weeks, depending on the bank's due diligence, the complexity of your ownership structure and branch workload. Foreign currency accounts and accounts for structures with offshore shareholders can take longer because of enhanced checks. Build this into your launch plan: do not sign a lease or commit to payroll assuming an account will be live within a week.

Choosing a bank

Foreign founders typically choose between large Chinese banks with broad branch networks, and international banks with China operations. The trade-offs are practical:

• Large Chinese banks usually have strong domestic coverage and integrated online banking, but onboarding can be document-heavy and English support varies by branch.
• International banks may offer smoother cross-border services and English-language relationship management, but often have higher minimum balances, fees or eligibility thresholds.
• City commercial banks can be more flexible for smaller companies in specific regions, but check their cross-border capabilities.

Ask about online banking functionality, payment approval workflows, foreign exchange services, fees, minimum balance requirements and English-language support before you commit. A friendly branch relationship matters in China; the account manager often determines how smoothly issues get resolved.

Common friction points for French founders

Several issues come up repeatedly. Ownership structures with multiple layers, offshore holding companies or nominee arrangements attract extra scrutiny. Inconsistent names or addresses across documents cause rejections. Missing or poorly translated parent company documents delay onboarding. Signatory arrangements that do not match the bank's requirements create rework. And foreign exchange controls mean cross-border payments need proper supporting documents and a clear purpose; this is not a formality.

Another practical point: online banking tokens and approval devices are usually issued at the branch, and setting up multi-user permissions takes time. Budget for a follow-up visit or a local colleague who can handle banking administration.

A practical checklist before you apply

• Confirm your company registration and seals are complete.
• Ask two or three banks for their document checklist and compare.
• Prepare apostilled and translated parent company documents early.
• Decide who the authorised signatories will be and document it formally.
• Clarify whether the legal representative must attend in person.
• Confirm foreign currency account requirements and capital injection evidence.
• Plan for several weeks and avoid tight dependencies on the account being live.

Final word

Opening a corporate bank account in China is manageable, but it rewards preparation. French founders who treat banking as an early workstream, rather than an afterthought once the company is registered, tend to avoid the most common delays. Work closely with your bank, your corporate services provider and your legal and tax advisers, and verify every requirement directly rather than relying on general guidance. This article is general information only and is not legal, tax or financial advice.