This is the second post we've done on WFOE registration. If you're interested in reading the first post on naming your company, you can read that here.
When registering your WOFE in China, one of the first things you must do is provide a bank reference letter to show that you actually have a bank account abroad. There are two key points to consider- whether you are registering as an individual or with a parent company. As an individual, you must provide an overseas account, and that account must be identical to the name on your passport. As an individual, it's ok to simply open a new account with no history. When opening a company with an existing parent company, your account must be active and have a good credit history.
One of the questions we often receive is about the format of this letter and what exactly is needed. Each bank has their own format, so I've attached a sample of what a bank reference letter should look like. We typically provide our clients with a sample such as this so that they may show their bank to avoid any confusion.
For any other questions regarding WFOE registration, please feel free to use the contact form to get in touch with us or chat with us in the comments below.