Published by ChinaMNC · Heze

Opening a Bank Account for a Heze Company: A Practical Guide for Foreign Founders

A practical guide to preparing a corporate bank account for a Heze, Shandong company, covering document preparation, bank due diligence, legal representative attendance, foreign exchange registration, and the common reasons applications stall.

Opening a corporate bank account is one of the most practical bottlenecks foreign founders hit after registering a company in China. Heze, a prefecture-level city in southwestern Shandong, is no exception. The company registration itself may go smoothly through the local Administration for Market Regulation, but the bank account is a separate process governed by the bank's own onboarding and anti-money-laundering (AML) rules, plus national foreign exchange requirements. This article explains what to prepare, what the bank will ask, and why applications commonly stall in Heze.

Understand what kind of account you actually need

Chinese companies typically need at least two accounts:

• Basic deposit account (基本存款账户): the primary RMB account. A company can have only one basic account, and it is required before you can open most other accounts, handle payroll, or withdraw cash. It must be opened at a bank branch with the appropriate licensing.
• General deposit account (一般存款账户): used for additional RMB business, loans, or separate project funds. It cannot be used for cash withdrawals in the same way as a basic account.
• Foreign currency account (外汇账户): needed if you will receive capital contributions, overseas payments, or export/import settlement in foreign currency. This account is tied to foreign exchange registration and is scrutinised more heavily.

Most foreign-invested enterprises (FIEs) in Heze start with a basic RMB account and a foreign currency capital account. Confirm with your bank which account type fits your business before you visit the branch.

Prepare the company documents before you approach a bank

Heze banks generally expect a complete, consistent document set. Prepare originals and copies of:

• Business licence (营业执照) with the unified social credit code.
• Articles of association (公司章程), including any amendments filed with the regulator.
• Company seal, financial seal, legal representative seal, and, if applicable, contract seal. Seals are still central to Chinese banking.
• Legal representative's ID: passport for a foreign legal representative, or Chinese ID for a local one.
• Beneficial owner identification and ownership structure chart up to the ultimate natural persons.
• Proof of registered address in Heze: lease agreement, property certificate, or the address filing documents used at registration.
• Foreign investment information report (外商投资信息报告) filing receipt, where applicable.
• Capital contribution and foreign exchange registration documents if a foreign currency account is needed.
• Board resolution or shareholder resolution authorising account opening and appointing signatories.

Names, addresses, and shareholding percentages must match across all documents. Even small inconsistencies, such as an English name spelled differently on the passport and the articles, can trigger a request for corrected paperwork.

Expect bank due diligence to focus on people and purpose

Chinese banks operate under strict AML and know-your-customer (KYC) obligations. In Heze, as elsewhere, the branch will ask about:

• Beneficial ownership: who ultimately owns and controls the company, with supporting documents for each layer.
• Business substance: what the Heze company will actually do, who its customers and suppliers are, and expected transaction volumes and currencies.
• Source of funds: where the initial capital and future deposits come from.
• Related parties: overseas parent companies, affiliates, and any directors or shareholders in higher-risk jurisdictions.
• Physical presence: whether the company has a real office in Heze, staff, and operations. A virtual or shared address may prompt additional checks.

Bring a short business plan, sample contracts, invoices, or a letter describing expected account activity. Banks are more comfortable when the story is specific and consistent with the registered business scope.

Legal representative attendance and authorisation

In practice, many Heze bank branches require the legal representative to attend the branch in person for account opening, at least for the initial interview and signature. This is common for new companies and foreign-invested entities. If the legal representative cannot attend, ask the bank in advance whether a notarised power of attorney (POA) is acceptable and whether the authorised person must also appear. Requirements vary by bank and branch, and a POA that works at one branch may not satisfy another.

If the legal representative is a foreign national based abroad, plan a trip or confirm the bank's remote onboarding policy before committing to a date. Do not assume that a video call will substitute for physical attendance.

Foreign exchange registration and capital accounts

If the company has foreign investment, the foreign currency capital account is linked to foreign exchange registration through the local branch of the State Administration of Foreign Exchange (SAFE) system, usually handled via the bank. The bank will check that the registered capital amount, investor details, and business scope are consistent. Capital contributions should be remitted with the correct purpose code and reference the company's registration details. Inconsistent remittance information is a frequent cause of delays and returned funds.

For routine foreign payments, the bank may ask for contracts, invoices, and tax records. Keep a clean paper trail from the start.

Common reasons applications stall in Heze

• Incomplete or inconsistent documents: mismatched names, missing seals, or outdated articles of association.
• Unclear beneficial ownership: layered offshore structures without supporting documents.
• Weak business substance: no clear explanation of customers, suppliers, or expected transactions.
• Legal representative unavailable: the required person cannot attend and the bank has not approved an alternative.
• Address concerns: the registered address looks residential or shared, prompting site verification.
• Foreign exchange mismatches: remittance details that do not match the registration.
• Branch-level policy differences: smaller branches may have less experience with foreign-invested companies and refer decisions upward, adding time.

Practical steps to reduce delay

• Call two or three bank branches in Heze before choosing one and ask specifically about their process for foreign-invested companies.
• Prepare a one-page company profile and a document checklist, and bring both to the meeting.
• Ensure the legal representative can attend in person, or obtain written confirmation of what the bank will accept instead.
• Keep English and Chinese names consistent across every document.
• Expect the process to take longer than company registration, and build that into your timeline.

Disclaimer: This article provides general information only and is not legal, tax, or financial advice. Banking requirements in China change and vary by branch. Confirm current requirements directly with your chosen bank and, where appropriate, with a qualified local professional.