94 outlets in 40+ cities
HSBC China has been a locally incorporated bank since April 2007, wholly owned by HSBC. At the end of 2025 it had 94 outlets in more than 40 cities, with its head office in Shanghai.
Bank account opening
Bank account openingAn HSBC China account for a foreign company with a link to Asia
HSBC China in Shanghai opens an NRA for a foreign company — if the business is already linked to China or Asia. Under the bank’s rules no deposit is needed, the forms are signed remotely, and the bank publishes its tariff openly.
- from USD 1 million
- Annual turnover on an existing account
- Remote
- Forms by DHL and the director’s original passport
- 3–4 weeks
- Opening from a complete package; tokens — about 2 more weeks
- CNY 3,500
- Account opening for a non-resident under the bank’s tariff
Other banks in China
In short
HSBC China in Shanghai opens an NRA account for a foreign company if the business is already linked to China or Asia, expecting annual turnover from USD 1 million. No deposit is needed and forms go by DHL; opening takes 3–4 weeks from a complete package and costs CNY 3,500 under the bank’s tariff.
Checked 18 October 2026 · Elizaveta Germash
Cost of a mistake
Account closure
HSBC may close or restrict the account if money arrives from a company the bank considers in breach. Payers are checked in advance.
How to avoid itHSBC China — an account for those already working in the region
HSBC in Shanghai opens an NRA account for a company with a link to China or Asia and proven business activity. The bank wants an operating Chinese company with an account in China for about six months and turnover from USD 1 million a year; for a new company — the history of a related company or letters of intent.
A link to the region is mandatory
Without business in China or Asia the account can’t be opened. The bank looks at real operations: contracts, invoices and a description of the business model.
Fees are public
Under the tariff effective 1 October 2026, opening an account for a non-resident costs CNY 3,500, and account service CNY 1,000 a month if the average balance is below CNY 1.5 million. An outgoing transfer is 0.1%, CNY 100 to 1,000, plus CNY 140 per message.
Remote, via DHL
The bank sends the forms by courier, the director signs them and returns them with the original passport, and an authorised person goes to the bank. Opening during a personal visit is also possible.
Deposit — case by case
Under the bank’s rules no deposit is needed. But the bank may offer a reasonable deposit or a payments package — this is discussed before opening.
Expert tip
HSBC may close or restrict the account if money arrives from a company the bank considers to be in breach of the law or compliance requirements. Check payers before the first incoming payment, especially new ones.
Elizaveta GermashLawyer · Bank accountsWho it suits
Who it suits — and when to choose something else
A good fit if
- 01You have an operating Chinese company with an account in China for about six months and proven business activity.
- 02Turnover on the existing account is from USD 1 million a year.
- 03You are in trading or logistics — the bank considers other activities by agreement.
- 04You need letters of credit and an account without a mandatory deposit.
- 05The director can’t travel: the forms are signed remotely.
Consider something else if
- 01There is no link to China or Asia. OCBC in Shenzhen doesn’t require one — but expects turnover from USD 1 million a month.OCBC
- 02You need an account within a few days and without a track record. A payment platform with account details at partner Chinese banks is set up in 3–7 working days.Payment platforms
- 03You need an account for a Hong Kong company with Stripe or PayPal — they can’t be connected to an NRA in Shanghai.Hong Kong
- 04Payments are expected from companies with a questionable reputation — HSBC may close or restrict the account.
HSBC in China and in Hong Kong
Shanghai or Hong Kong: choosing within the HSBC group
HSBC China and HSBC in Hong Kong are different banks within the group with different rules. Terms based on our practice as of October 2026; the decision always rests with the bank.
- Who can open
A foreign company
with a link to China or Asia
- How it’s opened
Remotely or in person
forms by DHL and the original passport
- Timeline
3–4 weeks
plus about 2 weeks for tokens
- Balance and deposit
No deposit needed
no service fee with an average balance of CNY 1.5 million or more
Click an option to highlight it across every parameter
Benefits
What you get
Let’s discuss the details
A new company, with the link to Asia through the group?
Send us the group structure and the related company’s turnover. We’ll say whether its history is enough for HSBC China and assemble a package to the bank’s list.
Who does what
You provide signatures and a passport; the rest is on us and the bank
How remote opening works at HSBC China. Timelines based on our practice as of October 2026, from a complete document package.
From you — the document package, signatures per the bank’s instructions and the director’s original passport. No need to travel to Shanghai.
Documents
What you’ll need
Company
- Account opening application with appendix — CRS and FATCA forms, signed by the authorised person and stamped with the company seal
- CI and certificate of change of name, if any — original and certified copy, with a Chinese translation
- BR and NNC1 or NAR1 — original no older than one year
- Articles of association and amendments
- Board resolution on the account — signed by a quorum under the articles
- Company and director seals; documents on changes of directors and shareholders — originals
- Lease for an office in China and the special code — if available or at the bank’s request
People and business
- Director’s passport — original and two Chinese translations
- Passport of the HSBCnet administrator
- SIM cards — foreign ones are accepted
- Proof of business activity: contracts, invoices, business model description
- Details of two token holders
Timing and budget
What makes up the budget
Amounts follow HSBC China’s tariff for corporate customers effective 1 October 2026: indicative as of October 2026, the bank has the final say. The bank may agree different terms with a customer.
- Account openingDepends onCNY 3,500 for a non-resident — once per customer. Small and micro enterprises are exempt.WhenAt opening
- Account serviceDepends onCNY 1,000 a month per customer. Waived if the company has a single yuan account or the average daily balance for the previous month is CNY 1,500,000 or more.WhenMonthly
- HSBCnet online bankingDepends onCNY 180, 350 or 700 a month, depending on the version. The first 5 users and 5 tokens are free; after that a token costs CNY 150.WhenMonthly
- Outgoing transfer abroadDepends on0.1% of the amount, minimum CNY 100, maximum CNY 1,000, plus CNY 140 per SWIFT message — in foreign currency and in yuan.WhenPer transaction
- Incoming transferDepends onIn foreign currency — CNY 55 per payment; in yuan — free, except for the intermediary bank’s fee.WhenPer transaction
- Yuan transfers within ChinaDepends onWithin HSBC China — free; to another bank online — CNY 1.2 to 200 depending on the amount.WhenPer transaction
- DepositDepends onNot required under the bank’s rules; the bank may offer a reasonable deposit or a payments package.WhenAt opening
- Translations, courier, our supportDepends onTwo passport translations, translation of documents into Chinese, delivery of the forms and the original passport, our work on the package and the bank visit.WhenBefore submission
After opening
What the company will have once HSBC opens the account
NRA account
HSBC Bank (China), Shanghai
A foreign currency NRA and a yuan NRA — with the NRA prefix before the account number: USD, EUR, HKD, RMB for settlements with suppliers and buyers.
Two tokens
HSBC China
One for each of the two holders the company named in the application.
Production — about 2 weeks
Activation instructions
HSBC China
How to activate the account and online banking access.
Sample bank details
HSBC China
A template of the account’s bank details — to pass on to suppliers and buyers.
Online banking guide
HSBC China
How to work in HSBCnet: payments, statements and free currency conversion; there is a mobile app.
List of correspondent banks
HSBC China
Useful when the payment route is checked with the supplier’s bank.
Getting it right
Common mistakes — and how to avoid them
Click a card to see how to do it right · 0 of 6 open
01 What people often do
Applying with a company that has no business in the region, hoping for an exception.
02 What people often do
Describing the business in one line: “trading, turnover growing”.
03 What people often do
Accepting money from any payer without checking.
04 What people often do
Sending copies of documents on changes of directors.
05 What people often do
Signing the forms “as usual” and sending them without the passport.
06 What people often do
Counting on connecting Stripe or PayPal to the account.
FAQ
Expert answers
Elizaveta Germash — Bank accounts
Yes. The bank wants an operating Chinese company with an account in China for about six months, proven business activity and turnover on the existing account from USD 1 million a year. A new company is helped by the history of a related company or by letters of intent.
Elizaveta Germash · Bank accountsSources
- HSBC China — Tariff of Accounts and Services (from 1 October 2026)
- HSBC China — document checklist for offshore companies
- HSBC China — cash management
- HSBC China — notice on displaying NRA before the account number
- HSBC China — digital business banking (HSBCnet)
- HSBC China — about the bank
- SAFE (China's FX regulator) — rules on non-resident accounts
Deadlines, amounts and rules are based on these sources as of the check date. Rules change: check with us before deciding.
Often goes with this
What else you may need
Next step
Will your company suit HSBC in Shanghai?
Tell us where the company operates, which accounts it has and what its turnover is. We’ll say whether it meets HSBC China’s requirements and put together a package in which the link to China or Asia is clear from the documents.
Elizaveta GermashLawyer · Bank accounts