Opening Up a Bank Account Under Tightened Restrictions – What You Need to Know
July 21, 2017 2 Comments on Opening Up a Bank Account Under Tightened Restrictions – What You Need to Know By The Incorp China Team
Why opening a bank account in China is more difficult today
It is no secret that the recent crackdown on money laundering has left foreigners struggling to open a bank account in China. As a result, it has become even more beneficial for foreigners, seeking to move or extend their business to China, to consult an agent on the ground. The reason why there are so many China consultancies on the market is because it’ is quite challenging as well as time and labor intensive to get a company approved. Only a few of these China consultants are as committed as Incorp China, connecting with the government bureaus and banks, forming friendships, and therefore getting our clients the service they deserve.