Can I Open A Bank Account without A Physical Presence in China and How Long Does it Take?

Date: 2016/9/28 9:28:28 Views：

Most banks require that the legal representative be physically present and signing of official documentation at the time of opening a corporate bank account.
Be forewarned that all banks in China must comply with stringent laws and regulations. They therefore will carry out a comprehensive series of checks and investigations on their potential clients before opening a new account for a company. This is not only to safeguard their risks against any potential default, but also is a part of their regulatory compliance and stringent anti-money-laundering policies. Depending on the amount of investigation that a bank carries out to confirm the identity and/or creditworthiness of the directors, or legal representative. It may take one or two weeks to open a new company bank account.
Lastly, we highly recommend you be present to open your bank account to avoid any delay. A bank always reserves the right to request the beneficial owner to be physically present prior to the approval of a bank account.