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How To Open Bank Account In China For Foreigner. Employment pass, student pass or work permit (required by some banks) From time to time, banks also ask for your student id or work permit before they open the account.
In case you are a foreigner or a resident of the country and needs to open either a personal or business account, the process is not that difficult. Identify a bank branch with a banker willing to accept a foreigner with a record id number (not all banks will accept this). When opening a bank account in china, an fie will need to specify what will act as the “signature” of the company.
You Will Need The Documents Outlined Above, Including Proof Of Id And Residency, And Also Be Prepared To Make An Initial Deposit (If Applicable) Into Your Account.
The first order of business is to get your necessary documents in order. Sign up for an account. Banks in china are generally open from 9 am to 5 pm with many branches also open on weekends.
Employment Pass, Student Pass Or Work Permit (Required By Some Banks)
Once you’ve picked the bank and put your passport and cash in your pocket, set aside an hour or two and head over to the nearest bank branch. The china state administration of foreign exchange issued regulations that allowed banks starting in 2009 to open foreign currency accounts for foreign entities. This will not affect you or your account.
Identify A Bank That Has The Features And Functionality You Need.
Banks may also charge a small fee for opening the account (often five yuan) as well as an annual fee (often ten yuan). Opening bank in china is not a hard as one would think. Get a few tips here.
It’s Simply Because The Banks Need To Take Extra Steps To Prove Your Identification And Confirm You’re Eligible To Open The Account.
Check the exact times with your local branch, though. Go to the bank and complete their application form. To start a bank account anywhere in the world, you need to provide the bank with some documentation so that they know who you are, and what your banking history is.
If You Have A Local Chinese Friend That Can Accompany You, This Might Help Speed Up The Process.
Because all chinese bank accounts need to be tied to a chinese phone number. Here are the main 5 banks in china which you can open an account as a foreigner: Malaysia has a total of 45 commercial and islamic banks (more on this later!), 19 of which are banks with an international presence.