Can't I open an account after handling the business license?

Legal analysis: No. Because once the company is established and operated, it has the obligation to pay taxes. The tax department must designate a bank to handle the company's tax affairs, but not only in cash. Although your company can handle the income and expenditure business without going through the bank in the course of operation, if the bank does not open an account, it cannot handle the tax payment.

Legal basis: Article 26 of the Measures for the Administration of Registration of Partnership Enterprises in People's Republic of China (PRC), if a business license is obtained without the approval of the enterprise registration authority according to law, the enterprise registration authority shall order it to stop its business activities and may impose a fine of less than 5,000 yuan. These Regulations shall apply to those who engage in business activities in the name of partnership enterprises.

Article 35 of the Measures for the Administration of the Registration of Sole proprietorship Enterprises shall be ordered by the registration authority to stop its business activities and be fined not more than 3,000 yuan if it obtains a business license without the approval of the registration authority according to law.