Published by ChinaMNC · Putian

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

A practical guide for foreign founders on preparing a corporate bank account application for a Putian company, covering due diligence, legal representative attendance, foreign exchange controls and the most common reasons applications stall.

Opening a corporate bank account is often the first real operational bottleneck a foreign founder hits after registering a company in Putian, Fujian. The business licence may be in hand, the chops carved and the tax registration complete, yet the account — the thing that makes the company function — can still take weeks or longer. This guide explains what Putian banks actually look for, how to prepare, and why applications commonly stall.

Why Putian Is Different From Shanghai or Shenzhen

Putian is a prefecture-level city in Fujian with a highly entrepreneurial local business culture, particularly in medical services, timber, jewellery and footwear. Local banks are experienced with small and medium domestic businesses, but they see far fewer foreign-invested enterprises than banks in first-tier cities. That has practical consequences: front-line staff may be less familiar with foreign-invested company documentation, compliance questions get escalated to provincial or head-office level, and timelines are less predictable. Expect more questions, not hostility — and prepare accordingly.

Putian also has a history of being flagged in national anti-fraud and anti-money-laundering campaigns linked to certain account-opening patterns. Banks in the region therefore apply enhanced due diligence to new accounts, especially where the legal representative or beneficial owner is overseas. This is not personal; it is a policy environment you must plan around.

What You Need Before You Approach a Bank

Corporate documents

Business licence (营业执照) — original and copies, with the unified social credit code clearly visible.
Articles of association, including any foreign-invested enterprise filings.
Capital contribution records or proof of paid-in capital where applicable.
Company chops: official seal, financial seal, legal representative seal, and contract seal if issued.
Tax registration confirmation and, where relevant, foreign exchange registration.
Proof of registered address — lease agreement and property certificate, or a filed address-use document.

People documents

Legal representative's passport and, if foreign, valid visa or residence permit.
Beneficial owner identification, plus a clear ownership chart tracing back to ultimate individuals.
Authorised signatory documents if someone other than the legal representative will operate the account.
Board resolution or shareholder resolution approving account opening and signatories.

Business substance documents

This is where most applications live or die. Putian banks want to see that the company is real and has a plausible reason to move money. Prepare contracts with suppliers or customers, invoices, a business plan or description of activities, lease documents for actual office or factory space, and any licences required for your sector. If you are pre-revenue, explain the expected flow of funds and who the counterparties will be.

Legal Representative Attendance

In most Putian bank branches, the legal representative must attend in person for at least the initial account-opening meeting, and sometimes for a follow-up verification. Banks use this to verify identity, confirm the person understands the business, and satisfy know-your-customer requirements. If the legal representative is a foreign national based abroad, this is frequently the single biggest scheduling obstacle.

Practical options, in order of reliability:

Have the legal representative travel to Putian for the opening and stay a few days in case of follow-up requests.
Appoint a China-resident legal representative from the outset — common for foreign-owned structures — and ensure that person can attend.
Ask the bank in advance whether remote video verification is accepted. Some branches allow it for existing clients or with enhanced documentation; many do not for new foreign-invested accounts. Get the answer in writing from the specific branch, not from a call centre.

Do not send a nominee who cannot explain the business. Bank staff are trained to detect scripted answers, and a failed interview can delay the file for weeks.

Foreign Exchange Considerations

A Putian company account will typically involve two currencies of concern: RMB for domestic operations and foreign currency for cross-border flows. Key points:

Foreign-invested companies need a foreign exchange registration before capital account transactions. Confirm whether this was completed during setup; if not, it must be done before inbound capital can be credited.
Capital account and current account (trade) flows are treated differently. Ordinary trade receipts and payments generally require supporting documents such as contracts, invoices and customs declarations.
Banks will ask about the source and purpose of expected inbound funds. Prepare a short, consistent explanation.
If your business involves cross-border e-commerce or services, ask specifically whether the branch handles the relevant foreign exchange business; not every branch does.

Common Reasons Applications Stall in Putian

Unclear beneficial ownership. A holding structure spanning multiple jurisdictions without a clean ownership chart invites escalation.
Registered address that looks like a virtual office. Banks increasingly verify addresses in person or via utility records.
Legal representative unavailable or unable to explain the business.
Mismatch between stated business scope and expected transactions. A company registered for consulting but expecting large manufacturing payments will be questioned.
Thin documentation on counterparties. No named suppliers, customers or contracts.
Branch inexperience with foreign-invested files. The file gets passed upward and sits in a queue.
Missing foreign exchange registration when the company needs a foreign currency account.

How to Improve Your Chances

Shortlist two or three banks — include at least one larger national bank and one local city commercial bank — and speak to the corporate account manager at the specific branch, not the general hotline.
Ask each branch, before applying, what documents they require for a foreign-invested company and whether the legal representative must attend.
Prepare a one-page business summary: what the company does, who it trades with, expected monthly flows, and the role of each signatory.
Bring originals plus two copies of everything, and translated versions of foreign-language documents where required.
Keep your story consistent across the bank, the tax bureau and the foreign exchange filing.

Timelines vary widely and depend on the branch, the completeness of your file and the complexity of your ownership structure. Plan for several weeks rather than several days, and avoid committing to customer payment dates until the account is live.

This article provides general information for foreign founders and is not legal, tax or financial advice. Requirements and bank practices change; verify current rules with your bank, your corporate service provider and a qualified professional in China.