How to open capital bank account for China WFOE?
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In what circumstance will the WFOE need a capital bank account? Before the new China compamy law not very much WFOEs need a capital bank account in the daily working. But with the new policy require registered capital pay up, all the WFOEs need a capital bank account to pay up the registered capital. Is it difficult to open the capital bank account for WFOE? I may it will be complicated but not diffcult to open.
Before new China company law, most investors prefer to open just one RMB general bank account for their WFOE and maybe two, another one will be foreign currency bank account. It will suffice their busienss running in China. With the new China company law annouced, those WFOE who decides to not close their company will need a capital bank account to pay up their registered capital before deadline. Some of the investors may ask if they can transfer the registered capital into their RMB general bank account? The answer is no.
For a China WFOE the registered capital has to be paid up into the capital bank account according to policies. And the capital bank account can be opened anytime after you opened the RMB general bank account. With one visiting to the bank, the account can be opened accordingly. Just remember follow the policies of bank like applying FDI certificate before opening the capital bank account.
It will be also a little different from RMB general bank account when pay up registered capital to the capital bank account. As we know the RMB bank account can be handled by online banking when do transferring. But for capital bank account it usually requires to visit the bank for foreign currency settlement. The registered capital will not be transferred to your capital bank account by a simply clicking through online banking.
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