WFOE bank account opening requires in-person (or video-verified) appearance of the legal representative, apostilled investor documents, business license, chops, and a credible business narrative. FDI capital accounts for foreign currency inflows are opened in the same process.
What banks need: (1) business license, chops (official, finance, legal-rep seals); (2) legal representative present — most banks require an in-person visit in China (some accept video verification); (3) apostilled/notarized investor incorporation documents and ID of directors; (4) business plan, expected flows, and counterparty info; (5) lease or office evidence. Account types: basic RMB account (mandatory, one only), general RMB accounts, FDI capital account (foreign currency capital inflow + settlement), foreign debt account if borrowing offshore. Timeline: 2-4 weeks. Bank choice: international banks (HSBC/StanChart) for global linkage; local majors (BOC, ICBC) for fapiao/payroll convenience. Post-2023 apostille convention simplified document prep for 120+ member countries.
Related questions
WFOE vs Joint Venture vs Rep Office: Which China Entity? FDI Registration Process in China: Step by Step China Negative List 2026: Where Can Foreigners Invest?Establishing your China presence?
Zhonghui Consulting handles FDI registration, WFOE setup, banking, accounting, and foreign-staff compliance end-to-end — fixed fees, English-speaking team, ICPA-licensed delivery.
Get a Free Market-Entry Diagnosis →