In Shanghai since 1858
Standard Chartered’s first branch in China opened in Shanghai in 1858. It became a locally incorporated Chinese bank in 2007 — among the first group of foreign banks to do so.
Bank account opening
Bank account openingA Standard Chartered China account — for a group with a company in China
Standard Chartered in Shanghai opens NRA and FTN accounts for a foreign company whose group already has an operating company in China. It is the strictest of the four banks: the director’s personal visit only, plus commitments after opening.
- In person only
- The director comes to the bank in Shanghai
- from 1 year
- An affiliated company operating in China, with invoices over 10 million RMB
- from USD 2 million
- Annual turnover through the accounts of the Chinese or Hong Kong company
- 50,000 RMB
- A 3-month deposit after opening — by the Chinese company
Other banks in China
In short
Standard Chartered in Shanghai opens NRA and FTN accounts for a foreign company whose group already has an operating company in China — for at least a year, with invoices over 10 million RMB. The director comes to the bank in person, and after opening the Chinese company holds a 50,000 RMB deposit for 3 months.
Checked 18 October 2026 · Elizaveta Germash
Standard Chartered China — a bank for a group already doing business in China
Standard Chartered has operated in China since 1858 and as a Chinese bank since 2007, with its head office in Shanghai. It opens an account for a foreign company only if the group has a real Chinese company: one that has operated for more than a year, pays taxes and has issued invoices worth more than 10 million RMB. The bank won’t approve on the documents of a related company alone, without the applicant’s own registered company.
A company in China is the main filter
An affiliated company over a year old, with taxes paid and invoices over 10 million RMB; turnover through the accounts of the Chinese or Hong Kong company — over USD 2 million a year.
Personal visit only
There is no remote opening: the director comes to the bank in Shanghai. A lease for an office is mandatory.
Commitments after opening
The bank expects currency exchange of more than USD 100,000 by the Hong Kong company and a 50,000 RMB deposit for 3 months by the Chinese one.
No yuan NRA
In our practice Standard Chartered doesn’t open an NRA in yuan; currencies — USD, EUR, HKD, CNY, others on request. FTN, letters of credit and conversion in Straight2Bank online banking are available.
Expert tip
Standard Chartered reviews transactions more closely than others: extra requests and longer payment times are possible. Allow time for answering the bank and keep the transaction documents at hand.
Elizaveta GermashLawyer · Bank accountsSelf-check
Does the group meet Standard Chartered’s requirements?
The bank checks everything at once: the company in China, turnover, the office and the director’s readiness to travel. Tick what is true for you — before buying tickets to Shanghai.
Tick what is true for you
0/7Tick the items to see whether you qualifyOn the basic requirements the group fits Standard Chartered China — the bank decides after its review
Director can’t travel?Another option
With a link to China or Asia, HSBC in Shanghai opens an NRA remotely — with forms sent by courier and the original passport.
No Chinese company?Another option
OCBC in Shenzhen doesn’t require one, but expects turnover from USD 1 million a month.
Standard Chartered China requirements based on our practice as of October 2026. The decision to open an account is made by the bank.
Who it suits
Who it suits — and when to choose something else
A good fit if
- 01The group has a Chinese company over a year old that pays taxes and has issued invoices worth more than 10 million RMB.
- 02Turnover through the accounts of the Chinese or Hong Kong company is over USD 2 million a year.
- 03The director can travel to the bank in Shanghai.
- 04You need an FTN account or letters of credit alongside the group’s Chinese company.
- 05You work in trading, e-commerce, logistics, freight, investment or settlements with China.
Consider something else if
- 01The director can’t travel, but there is a link to China or Asia. HSBC in Shanghai opens an NRA remotely, with forms sent by courier.HSBC
- 02There is no Chinese company in the group — OCBC in Shenzhen doesn’t require one, but expects turnover from USD 1 million a month.OCBC
- 03A Chinese company is needed but doesn’t exist yet — register it first; Standard Chartered comes once it has operated for more than a year.China
- 04You need an NRA account in yuan — in our practice Standard Chartered doesn’t open one.
- 05After opening you can’t place a deposit of 50,000 RMB for 3 months and exchange currency worth more than USD 100,000.
Two banks in Shanghai
Standard Chartered or HSBC: how the requirements differ
Both Shanghai banks expect business in the region, but Standard Chartered is stricter. Terms based on our practice as of October 2026; the decision always rests with the bank.
- How it’s opened
Director’s visit only
- Business in the region
A company in China over a year old
taxes, invoices over 10 million RMB
- Turnover
Over USD 2 million a year
- After opening
Currency exchange and a deposit
over USD 100,000 and 50,000 RMB for 3 months
Click an option to highlight it across every parameter
Benefits
What you get
Let’s discuss the details
Is the director ready to fly to Shanghai?
First we’ll check the group against the bank’s requirements and assemble the package with translations. The director travels once everything adds up.
Who does what
One visit by the director — but everything must add up before it
How opening works at Standard Chartered China. Timelines based on our practice as of October 2026, from a complete document package.
The director comes to the bank in Shanghai once, and after opening the company meets the bank’s terms on currency exchange and the deposit.
Documents
What you’ll need
Company
- CI and BR — with a Chinese translation, if required
- NNC1 or NAR1 no older than one year — original
- Articles of association — with a Chinese translation, if required
- Company seal
- Lease for an office in China
- Documents on changes of directors and shareholders — originals
- Special code
Director and business
- Director’s passport — original and two translations
- Chinese SIM card — one, or two if a finance manager is added
- Proof of the company’s business activity
- Documents of the group’s Chinese company: years of operation, taxes paid, invoices — at the bank’s request
Timing and budget
What makes up the budget
The main items at Standard Chartered are the commitments after opening and the director’s trip. Fees follow the bank’s price list effective 1 September 2026: indicative as of October 2026, the bank has the final say; some prices the bank may agree with the customer.
- Currency exchange after openingDepends onMore than USD 100,000 — by the Hong Kong company.WhenAfter opening
- DepositDepends on50,000 RMB for 3 months — by the Chinese company.WhenAfter opening
- Account feesDepends onNo monthly fee, except for EUR (CNY 180) and CHF (CNY 150) accounts: it applies if the average monthly balance is 1,000 or more and the account is not the only one at the bank. A dormant account — CNY 800 a year, unless it is the only one.WhenMonthly
- Straight2Bank online bankingDepends onCNY 300 a month, CNY 150 for small and micro enterprises; a token — CNY 60.WhenMonthly
- Outgoing foreign currency transferDepends on0.1% of the amount, minimum CNY 200, maximum CNY 850, plus CNY 140 per message — for an electronic instruction; a paper one — 0.2%.WhenPer transaction
- Incoming foreign currency transferDepends onUSD 7.5 per payment.WhenPer transaction
- Yuan transfersDepends onIncoming and within the bank — free. From an NRA or FT account within China and abroad — CNY 5–20 depending on the amount; over 1 million — 0.002%, capped at CNY 200.WhenPer transaction
- Director’s tripDepends onA visit to the bank in Shanghai is mandatory — flights, accommodation, the director’s time.WhenAt opening
- Document translations and our supportDepends onTwo passport translations, translation of company documents into Chinese — if required; checking the requirements, preparing the visit, answering bank requests.WhenBefore submission
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 on the documents of a related company alone, without your own registered one.
02 What people often do
Flying to Shanghai without checking the requirements for the Chinese company.
03 What people often do
Not budgeting for the commitments after opening.
04 What people often do
Counting on an NRA account in yuan.
05 What people often do
Sending a large payment on the last day before delivery.
06 What people often do
Arriving without a lease for an office in China.
FAQ
Expert answers
Elizaveta Germash — Bank accounts
Yes. The group must have an affiliated Chinese company that has operated for more than a year, pays taxes and has issued invoices worth more than 10 million RMB. Turnover through the accounts of the Chinese or Hong Kong company — over USD 2 million a year. There is no approval on the documents of a related company alone, without your own registered one.
Elizaveta Germash · Bank accountsSources
- Standard Chartered China — 2026 price list (from 1 September 2026)
- Standard Chartered China — business tariffs
- Standard Chartered China — about us
- Standard Chartered China — branch information
- Standard Chartered China — non-resident accounts for business
- Standard Chartered China — Straight2Bank
- Standard Chartered China — free trade accounts
- Standard Chartered China — deposit insurance
Deadlines, amounts and rules are based on these sources as of the check date. Rules change: check with us before deciding.
Next step
Will your group meet Standard Chartered’s requirements?
Tell us about the group’s Chinese company: how long it has operated, its turnover and invoices. We’ll say whether you meet the bank’s requirements and prepare the director’s visit to Shanghai.
Elizaveta GermashLawyer · Bank accounts