Bank account in China

Account opening in Agricultural Bank of China (Guangzhou Branch)

Agricultural Bank of China was established in 1951. In January 2009, the Bank was transformed into a Limited Liability Company and went to the Shanghai Stock Exchange and Hong Kong Stock Exchange.

ABC has around 320 millions clients, almost 3 millions corporate clients, and around 24 thousands branches.

We may assist you in bank account opening for your Hong Kong Company in Agricultural Bank of China (Guangzhou branch).

It is the good option to consider, when:

– You have difficulties to open a bank account in Hong Kong;
– You have problems with bank account in Hong Kong (for example, account is closing)

Here are the basic requirements for opening a bank account in Agricultural Bank of China:

1. Supporting documents:

1.1. Valid BUSINESS REGISTRATION CERTIFICATE

1.2. CERTIFICATE OF INCORPORATION

1.3. Annual Return and/or NC1 form (certified copy)

1.4. Passport and address proof for Director.

1.5. Hong Kong Company stamps

1.6. You must provide one or two contract for the supply of goods, signed with Chinese suppliers. We are ready to provide additional services related to the preparation of such contracts.

1.7. Director of the company must specify an address in China that bank can use to send mail. We provide the address for an additional charge. The tariff rate is about 350 USD per year.

2. Additional requirements:

2.1. The above documents (scanned copies) should be forwarded for review to the bank before your visit, approximately 1-2 weeks prior to the proposed visit to the bank.

2.2. It is necessary to confirm the meeing with the bank, approximately 1 week prior to the meeting.

2.3. You will need to have a Chinese telephone number. We’re ready to provide our assistance in buying the sim card and agreement arranegement between you and Chinese mobile company.

2.4. The client must do at least one incoming and one outgoing transaction within the one month after the account opened. Otherwise the bank will reserve the right to close the account.

2.5. Company director, as per bank’s requirement, should open a personal account in thie bank and make a deposit 50 000 yuan.

3. Bank account opening procedure:

– Applying the documents: from 2 to 4 hours.
– Key collection and account activation occur on the same day, if all required documents are submitted to the bank.
– If the bank will require additional documents, you have to come back to provide these documents and activate the account. After you provide the documents, bank may request additional documents, so it is better to send scan copies for their preliminary checking first.

4. Bank account tariffs:

4.1. Opening account bank commission: 50 yuan.

4.2 Transfers within China: transfer amount х 0.001 (minimum 20 yuan,  maximum 1000 yuan) + 20 yuan

4.3. Transfers to Hong Kong, Macao and Taiwan:

Transfer amount х 0.001 (minimum 50 yuan,  maximum 1000 yuan) + 80 yuan

4.4. Transfers to other countries:

Tranfer amount х 0.001 (minimum 50 yuan,  maximum 1000 yuan) + 160 yuan

4.5. You can open a corporate bank account only in USD or EUR currency. You can open two currency accounts, if it is necessary.

4.6. Personal account should be opened in RMB currency and USD. You can exchange 50 000 USD within the year without your personal presence, through the internet bank. If you need to exchange more, you need to appear in person.

4.7. Internet banking interface can be in English or Chinese language.

If you have any questions, send us a message and get your preliminary consultation.