Published · Poland

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

A practical, plain-English guide for Polish founders on opening a corporate bank account in China, covering account types, documentation, remote vs on-site opening, timing, common friction points and practical steps to prepare.

Opening a corporate bank account in China is one of those tasks that looks simple on paper and can quietly consume weeks of a founder's time. For Polish founders setting up a Chinese entity, the bank account is the gate through which capital, supplier payments and customer receipts must pass. Get it right early and the rest of the setup flows more smoothly. Get it wrong and you can find yourself with a registered company that cannot yet pay its own rent.

This article is general information for founders planning a China setup. It is not legal, tax or financial advice, and banking practice varies by city, bank and branch. Always confirm requirements directly with your chosen bank and with qualified local advisers.

Why the bank account matters more than it seems

In China, a company's bank account is not just a place to hold cash. It is tied to the company's legal registration, its tax status, its ability to issue invoices (fapiao) and its capacity to pay staff and suppliers. Many operational steps assume you already have an active corporate account. That is why founders often find the bank account sitting on the critical path between incorporation and actually trading.

Polish founders typically arrive with expectations shaped by European banking: open an account online, verify identity, start transacting. China works differently. Corporate account opening is a regulated, relationship-driven process, usually requiring at least one in-person visit and a branch that is willing to take on your company as a client.

The main account types you will encounter

Chinese banks distinguish between several account categories. For a foreign-invested company, the two you will hear about most are:

• Basic deposit account (基本存款账户): the company's primary account. It is used for day-to-day operations, salary payments and cash withdrawals, and a company can generally have only one. It must be opened at a bank branch, and the process usually involves the local authorities' account system.
• General deposit account (一般存款账户): a secondary account for specific purposes, such as receiving loan proceeds or separating project funds. It cannot be used for cash withdrawals in the same way as the basic account.

There are also foreign currency accounts for cross-border receipts and payments, and capital accounts used to receive registered capital from abroad. If your Polish parent company will inject capital, you will likely need a capital account in addition to the basic RMB account. Ask the bank early which accounts your structure requires.

Choosing a bank and a branch

China has a large banking sector, and the practical difference between banks often comes down to the branch, not the logo. Large state-owned banks have broad networks and experience with foreign-invested entities. Joint-stock and city commercial banks may be more flexible or more responsive, depending on the city. Some international banks serve foreign companies but may have higher minimum balances or narrower service coverage.

For a Polish founder, the key questions are usually:

• Does this branch regularly open accounts for foreign-invested companies?
• Can they communicate in English, or will you need a Chinese-speaking colleague or agent?
• What are the minimum balance and fee requirements?
• How do they handle cross-border payments and currency conversion?
• What is their process for online banking and payment approvals?

It is worth visiting two or three branches before committing. A branch that has done this before will save you a great deal of time.

Documents you should prepare

Requirements vary, but a typical document set for a foreign-invested company includes:

• Business licence (营业执照) and company chop (公章)
• Legal representative's identity document and, for foreign nationals, passport and visa or residence permit
• Articles of association and incorporation documents
• Proof of registered address, such as a lease or property document
• Shareholder and beneficial owner information, including documents for the Polish parent company
• Board resolutions or authorisations for opening the account and appointing signatories
• Tax registration information and, where relevant, foreign exchange registration

Banks increasingly apply know-your-customer and anti-money-laundering checks, so expect questions about your business model, expected transaction volumes, counterparties and source of funds. Prepare clear, consistent answers. If your Polish parent company has a complex ownership structure, bring an ownership chart.

Remote opening versus being there in person

Some banks advertise remote or pre-arrival account opening, but in practice most corporate accounts for new foreign-invested companies still require at least one in-person visit, often by the legal representative or an authorised signatory. The visit usually involves identity verification, signing documents and sometimes a short interview about the business.

Plan for this. A founder who assumes the account can be opened from Warsaw may lose weeks. If the legal representative cannot travel, ask the bank whether a authorised representative can attend with a notarised power of attorney, and confirm whether any documents need to be notarised or legalised and translated into Chinese.

How long it takes and what can go wrong

Timelines vary widely by city, bank and the completeness of your documents. Some accounts open in a couple of weeks; others take longer if ownership structures need clarification or if the branch is unfamiliar with foreign investors. Common friction points include:

• Mismatches between the business licence and the documents you present
• Incomplete beneficial ownership information
• Unclear explanations of expected transactions
• Signatories who are not physically present
• Address documentation that the bank does not accept

None of these are unusual, but each can add delay. A short, well-organised document pack and a patient, responsive approach go a long way.

Practical steps for Polish founders

A sensible sequence looks like this:

• Before incorporation: decide the ownership structure and identify who will be the legal representative and signatories.
• During incorporation: ask your registration agent or adviser which banks local foreign-invested companies tend to use successfully.
• After incorporation: shortlist two or three branches, call ahead and confirm their document list in writing if possible.
• Prepare the pack: translate key documents, organise ownership charts and write a one-page summary of your business and expected transactions.
• Attend in person: book the visit, bring originals and chops, and allow extra time for follow-up requests.
• After opening: set up online banking, test a small transaction and confirm how payments are approved internally.

It also helps to keep your Polish and Chinese advisers aligned. Your Polish accountant may need to understand how capital injections and intercompany payments are documented, while your China adviser can confirm local banking and foreign exchange practice.

A final word

Opening a corporate bank account in China is a process of preparation and relationship-building rather than a purely administrative step. Polish founders who treat it as a project, with a clear document pack and realistic timelines, tend to move through it more smoothly. Confirm every requirement with your chosen bank and qualified local advisers, and treat this article as a starting point for those conversations rather than a substitute for them.