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Open a Business Bank Account in Egypt – Guide for Chinese Companies
Learn how Chinese companies can open corporate bank accounts in Egypt. Step-by-step guide, required documents, translation needs, and tips for a smooth banking process.
How to Open a Bank Account in Egypt for Chinese Companies
Why a Local Bank Account Is Crucial for Chinese Investors
Once your business is registered in Egypt, opening a corporate bank account is essential for:
Capital deposit and GAFI registration.
Paying suppliers, staff, and government fees.
Receiving payments from clients.
Import/export transactions and customs clearance.
Tax and audit compliance.
Chinese companies operating in Egypt must open an Egyptian bank account in the company’s name to run operations legally and efficiently.
Can Chinese-Owned Companies Open Accounts in Egypt?
Yes.
Fully foreign-owned companies (including 100% Chinese shareholders) are allowed to open accounts in local banks — provided the business is legally registered and documents are complete.
Most major banks in Egypt welcome international businesses, especially those operating in investment zones or industrial sectors.
Best Banks in Egypt for Chinese Companies
| Bank | Features |
| 🇪🇬 National Bank of Egypt | Large branch network, RMB support, government-related services. |
| 🇪🇬 Banque Misr | Popular among manufacturers and exporters. |
| 🇪🇬 CIB (Commercial Int’l Bank) | Corporate services, online banking, English-speaking support. |
| 🇨🇳 Chinese Bank Branches | Some Chinese banks offer services through local partnerships. |
| HSBC Egypt | Ideal for global transfers and multi-currency operations. |
Step-by-Step Guide to Opening a Business Bank Account
Step 1: Complete Company Registration
Register your company with GAFI and obtain:
Commercial Registration (CR).
Tax card.
Investment license (if applicable).
Step 2: Prepare Required Documents
Typical documents include:
Commercial register certificate.
Tax ID certificate.
Articles of incorporation.
Power of Attorney (if a representative is acting).
Company stamp and board resolution.
IDs/passports of shareholders or authorized signatories.
All foreign documents must be translated into Arabic and certified.
Step 3: Choose a Bank and Schedule an Appointment
Some banks require pre-approval and compliance screening.
Bring:
Full documentation set.
Initial capital deposit (required for new LLCs).
Corporate seal/stamp.
The bank will verify:
The legitimacy of the company
Source of funds.
KYC (Know Your Customer) documentation.
Step 4: Sign Account Opening Forms
Once approved, sign:
Account agreement.
Online banking access forms.
Signature verification documents.
Step 5: Deposit Initial Capital
For LLCs, the required capital must be deposited — typically:
EGP 50,000 or more.
Capital deposit certificate issued for GAFI purposes.
Once complete, your corporate bank account will be activated.
Common Issues Faced by Chinese Investors
Incomplete translation of company documents.
Lack of Arabic versions of incorporation papers.
Misunderstanding of Egyptian banking compliance (e.g., anti-money laundering rules).
Delays in customs or payment processing due to documentation issues.
Solution: Work with certified translators and experienced business consultants.
How COT Translation Services Supports Chinese Investors
We help Chinese companies open bank accounts faster and smoother by:
Translating and certifying documents into Arabic.
Preparing bilingual versions of articles of incorporation, PoAs, and tax forms.
Formatting according to bank and GAFI requirements.
Providing quick turnaround for urgent filings.
We also liaise with law firms and corporate consultants to ensure your banking package is complete and compliant.
FAQs
Can I open a bank account before registering the company?
No. You must complete GAFI registration first, including the commercial registration and tax ID.
Is it necessary to be physically in Egypt to open the account?
Usually yes. However, in some cases, a Power of Attorney and legal representative can complete the process.
Do I need to translate Chinese company documents?
Yes. All documents in Chinese or English must be translated into Arabic by a certified translation office.
Can I transfer funds from China into Egypt?
Yes. Egyptian banks accept international wire transfers, subject to proper documentation and compliance.
Conclusion
Opening a bank account in Egypt is a key step for every Chinese company seeking to operate, invest, and grow in the region. With the right documents, proper translation, and local guidance, the process is simple and rewarding.
Let COT Translation Services help you translate, certify, and submit your banking documents the right way — so you can focus on business, not paperwork.
Call Us or Send the document via WhatsApp
Visit: www.cottranslation.com
Branches: Maadi – Downtown – Mohandessin
