Once a Hong Kong company is established, it can open an account in any country, but most customers choose to open an account in Hong Kong. However, due to the COVID-19 epidemic in recent years, many customers have no way to open bank accounts in Hong Kong and have to open non-resident accounts in China.
Hong Kong companyOnce established, you can open an account in any country, but most customers choose to open an account in Hong Kong. However, due to the COVID-19 epidemic in recent years, many customers have no way to open bank accounts in Hong Kong and have to open non-resident accounts in China.Hong Kong companyThere are three types of non-resident accounts you can open in China:OSA.NRA.FTN.
NRAAccount, Chinese name "Foreign Exchange Account of overseas institutions in China" (Non-Resident Account), refers to the domestic foreign exchange accounts opened by overseas institutions in domestic banks according to regulations, which can be opened by basically all domestic banks (such as the Big Four banks, Standard Chartered Bank, Overseas Chinese Yong Hang, etc.). It is supervised by the State Administration of Foreign Exchange and the People's Bank of China.
OSAAccount, Chinese name "Offshore Account" (OFFSHORE ACCOUNT), belongs to the overseas account, refers to the overseas legal or natural person and government agencies,On the basis of obtaining the qualifications for offshore banking operations in accordance with the law,A bank account opened when conducting business with a domestic bank,That is, a bank account opened in a country other than the one where the depositor lives. After approval by the Banking Regulatory Bureau, Ping An Bank, China Merchants Bank, Shanghai Pudong Development Bank and Bank of Communications have the right to open offshore accounts.
The Bank Regulatory Bureau is responsible for supervision, and the supervision is less subject to external management policies. There is no need to occupy the target of foreign debt, and the funds come and go freely, basically not subject to the supervision of external management policies. There are no RMB accounts in offshore banks.
FTNFree Trade Account for Foreign Institutions (Free Trade Non-resident), is one of the free trade accounts launched in the Shanghai Pilot Free Trade Zone. Applicable to overseas institutions, accounts can only be opened in financial institutions within the Shanghai Free Trade Zone, and cannot be opened within the customs. It belongs to overseas accounts and is supervised by the People's Bank of China and Shanghai Free Trade Zone.
CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.