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

A practical, plain-English guide for Serbian founders on opening a corporate bank account in China: account types, documentation, the role of your legal representative, KYC, timing, common delays, and how to prepare before you land. General information only, not legal or tax advice.

Opening a corporate bank account in China is often the step that surprises founders most. You can have a registered company, a business licence and a lease, and still spend weeks getting an account that actually works. For founders coming from Serbia, the gap is mostly about expectations: Chinese banks are heavily regulated on anti-money-laundering (AML) and foreign exchange, and the account opening process is designed around those controls, not around speed of onboarding.

This article is general information for Serbian founders setting up in China. It is not legal, tax or financial advice. Rules and bank practices change, and they vary by city, by bank branch and by the type of business you run. Always confirm current requirements with your bank and with a qualified local adviser.

Why the account matters more than you think

In China, a corporate bank account is not just a place to hold money. It is the operational spine of the company. It is used for paying staff, paying rent, receiving customer payments, settling taxes and social insurance, and handling cross-border transfers. Many platforms and payment providers will not onboard you without a working corporate account, and some local suppliers will only invoice against one.

Serbian founders often assume they can open an account quickly after registration and start invoicing. In practice, the bank will want to understand your business before it lets money move. Expect questions about who your customers are, what you sell, where your money comes from and where it goes.

The two accounts you will likely need

Basic deposit account (基本存款账户)

This is the company's main account. A company can generally have only one basic account, and it is the account used for cash withdrawals, payroll and day-to-day settlement. It is usually opened at a bank branch and requires the company to be properly registered.

General deposit account (一般存款账户)

Once the basic account exists, you can open general accounts for specific purposes, for example at another bank, for a particular project, or for receiving certain types of funds. Many companies also use a foreign currency account alongside the RMB account if they trade internationally.

If you are a foreign-invested company, you may also hear about foreign exchange capital accounts used to bring in registered capital. These are subject to separate foreign exchange rules and are usually handled with your bank's international desk.

Who has to be there, and who signs

Chinese banks place heavy weight on the legal representative (法定代表人). In most cases, the legal representative must appear in person at the branch at least once, with original identification, to sign documents and complete identity verification. Some banks allow a authorised representative with a power of attorney, but this is not universal and depends on the bank, the branch and the company's profile.

For Serbian founders, this is a key planning point. If your legal representative is in Serbia, you may need to travel to China, or structure the company so that a trusted person in China holds that role. That decision has legal and practical consequences beyond banking, so take advice before you decide.

Bring originals, not scans. Passports, the business licence, company seals and charter documents are typically checked against originals. Photocopies alone are rarely enough.

Documents you should prepare

Requirements differ by bank, but a typical corporate account opening pack for a foreign-invested company includes:

Have these documents translated into Chinese where required. Banks generally work in Chinese, and a certified translation of key corporate documents is often expected.

The KYC conversation

The most common reason account opening stalls is not missing paper but an unclear business story. Banks must satisfy AML and know-your-customer obligations. They will ask what your company does, who pays you, how much and how often, and why funds move across borders.

Prepare a short, consistent explanation. If you are a Serbian founder selling software to European clients but operating a China entity, say so clearly and explain the flow of money. If you expect regular inbound payments from related companies, be ready to explain the relationship and provide supporting contracts. Vague answers slow everything down.

Keep your answers consistent with your business licence, your registered scope of business and your actual contracts. Inconsistencies invite more questions.

Timing and practical realities

There is no universal timeline, and anyone who promises a fixed number of days is guessing. In practice, the process can take several weeks from first contact to a fully usable account, and longer if documents need fixing or if the bank's compliance team asks follow-up questions. Opening the basic account is usually the slowest part; additional accounts can be faster once the relationship exists.

Branch choice matters. A large branch in a business district may have more experience with foreign-invested companies, but also more queue. A smaller branch may be more attentive but less familiar with foreign ownership structures. Ask your registration agent or adviser which branches in your city have handled similar companies recently.

Do not assume online banking is fully enabled on day one. There are often separate applications, tokens or approval steps, and limits on initial transaction volumes. Plan your first months of operations around this.

Common friction points for Serbian founders

A sensible preparation checklist

Final word

Opening a corporate bank account in China rewards preparation. The banks are not trying to be difficult; they are applying controls that are standard in China and increasingly familiar elsewhere. If you arrive with clean documents, a clear business story and the right people present, the process is manageable. If you treat it as a formality to be rushed after registration, it can become the bottleneck that delays everything else.

This is general information only. For your specific structure, tax position and banking arrangements, consult a qualified professional in China and, where relevant, in Serbia.

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This page is general information for Serbian founders and companies considering mainland China. It is not legal, tax or immigration advice, and rules vary by city, sector and time. Verify current requirements with Chinese authorities and qualified local advisers before acting.