Offshore Banking

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					Offshore Banking
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Offshore banking is a service of the financial activities of non-residents, banks absorb
the non-resident funds. Target for foreign banks (including Hong Kong, Macao and
Taiwan regions) of natural persons, legal persons (including the registration of
overseas-invested enterprises outside China), government agencies, international
organizations and other economic organizations, including the Chinese financial
institutions overseas branches.

Offshore banking business currency freely convertible currencies only. Remit funds
offshore non-resident accounts, offshore account offshore accounts and offshore funds
remitted funds between accounts and transfer free transfer. Starting from May 1989,
Bank of China and China's State Administration of Foreign Exchange
approval, Merchants Bank, Bank of Communications, Shenzhen Development Bank,
Pudong Development Bank has set up offshore bank accounts business. After several
years of development, these banking institutions to set maturing varieties growing the
business to provide diversified services to more advanced methods to provide
customers with a comprehensive, efficient and quality services.

The benefits of opening an offshore bank account

Free transfer of funds:

Customer's offshore accounts in foreign banks is equivalent to opening the
account, offshore accounts can be free from the allocation of funds, not subject to the
domestic foreign exchange control.

⊙ deposit rates, species restricted:

Deposit rate, variety from domestic regulatory restrictions, deposit interest rates than
foreign banks the same benefits, access to flexible. In particular, large deposits,
according to customer needs, in the interest rate terms are tailor-made, flexible and
convenient.

⊙ deposit interest tax exemption:

The Chinese government made interest on deposits offshore deposit interest tax
exempt. Net income is more substantial offshore deposits.

⊙ improve operational efficiency inside and outside the consolidated fund:

Make full use of Hong Kong banks can provide foreign banks with offshore
operations while full-service features business functions, reduce the overall cost of
funds to speed up domestic and foreign cash flow, improve fund use efficiency.
⊙ domestic control and foreign operations:

You can use online banking or phone banking to facilitate the daily operations

Offshore banking business types

⊙ foreign exchange deposits

⊙ foreign exchange loans

⊙ interbank foreign exchange lending

⊙ for International Settlements

⊙ large negotiable certificates of deposit issued

⊙ foreign exchange guarantee

⊙ advice, witness the business

⊙ approved by the State Administration of Foreign Exchange other business

Offshore accounts set up categories

⊙ dollar savings account

⊙ Foreign Currency Savings Account

⊙ Hong Kong dollar exchange account (checking account)

U.S. dollar check account ⊙

⊙ HK financial account

⊙ foreign financial account

⊙ Internet account

⊙ import and export letters of credit (LC)

				
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