Set-up a Liaison Office in China
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A liaison office is a foreign entity, to establish a presence in China-without engaging in direct commercial activities or generating revenue there.
A China bank account is necessary for meeting regulatory requirements, such as filing annual reports with the China China Market Supervision and Administration Bureau, which oversees liaison offices.
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Key Requirements for Opening a Bank Account for a Liaison Office
To open a bank account in China for a liaison office, the following documents and steps are generally required:
1. Liaison Office Registration Documents
The foreign parent company must provide the necessary documentation proving that the liaison office has been officially registered with the China Market Supervision and Administration Bureau in China. These documents include: approval letter authorizing the establishment of the liaison office and a copy of the Liaison Office License.
2. Foreign Parent Company Documents
The parent company’s documents are essential for bank verification, including:
·Articles of Association.
·Certificate of Incorporation.
·Board resolution authorizing the establishment of the liaison office in China.
These documents must typically be notarized and translated into China.
3. Taxpayer Identification Number (TIN)
Although liaison offices are generally exempt from corporate taxation, they must still obtain a Taxpayer Identification Number from the China Local Tax Office. This number is required for various legal and administrative procedures, including opening a bank account.
4. Power of Attorney
A power of attorney (PoA) may be required if the foreign company’s representatives are not physically present in China. The PoA must authorize a local representative or legal consultant to act on behalf of the company in banking matters.
5. Proof of Office Address
Banks typically require documentation that verifies the liaison office’s physical location in China. This could include a rental agreement or a utility bill in the office’s name.
6. Authorized Signatories’ Identification
The bank will request identification for the authorized signatories of the liaison office’s bank account. This includes:
·Passports of the foreign parent company’s authorized representatives.
·Identification of local signatories, if any.
7. Bank Forms and Applications
Each bank in China will have its own set of forms and applications that need to be completed. These forms generally require details about the liaison office’s operations, the parent company, and authorized signatories.
Get in Touch With Us to Register a Liaison Office in China
Liaison offices are a common strategy for global companies & foreign enterpreneurs that want to explore the China market without committing to a full-scale commercial operation.
ATAHK GROUP is a China Accounting and Tax Consultancy company specialized in providing end-to-end Liaison Office formation Services for especially global companies and foreign entrepreneurs which wants to walk into to China Market
We continue to offer cost-effective solutions to global investors and individual entrepreneurs who is willing to enter the China and Asia markets smoothly and quickly, to facilitate full compliance with local legislation and to provide access to tax and social security incentives.
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