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Ⅰ. Introduction
Off-shore banking refers to financial activities where the bank absorbs the funding of and provides services for non-residents. “Non-residents' refers to natural persons, legal persons (including Chinese Offshore enterprises registered overseas), government organizations, international organizations and other economic organizations outside China (including Hong Kong, Macao and Taiwan), and including the overseas branches of Chinese financial institutions but not including the abroad representative organizations and offices of domestic institutions.
Ⅱ.
Documents Required for Opening an Offshore Account
All non-residents of China , including registered offshore companies, businesses, factories, organizations, banks, deposit companies, fund organizations, and individuals.
The documents required on opening an offshore account may vary different due to the
registration country and organization form.
An LLC needs to provide the following documents for opening an account:
1. For a Hong Kong registered LLC:
1) Copy of validated business registration certificate
2) Copy of validated certificate of incorporation
3) Latest annual return
4) Duplicate of validated memorandum of association and articles of association
5) Board resolution (two shareholders and above) or letter of authorization (one shareholder)
6) Copies of ID cards or passports of Board directors
7) Account opening application form of the bank
8)Others
2. For an LLC registered in Australia, Singapore or U.K:
1) Validated duplicate of certificate of incorporation
2) Duplicate of memorandum of association and articles of association
3) Attested statements of directors and company's secretaries
4) Board resolution (two shareholders and above) or letter of authorization (one shareholder)
5) Copies of ID cards or passports of Board directors
6) Account opening application form of the bank
7)Others
3. For a BVI company:
1) Validated duplicate of certificate of incorporation
2) Certificate of Incumbency
3) Consent to act as director
4) Meeting memorize
5) Share certificate
6) Validated duplicate of memorandum of association and articles of association
7) Certification letter issued by CPA
8) Resolution issued by Director of the company
9) Copies of ID cards or passports of Board directors
10) Account opening application form of the bank
11) Others
4. For a U.S.A registered LLC:
1) Validated duplicate of certificate of incorporation
2) Validated duplicate of articles of association and supplementary provisions
3) Legal statement made in front of the lawyer or notary
4) Board resolution (two shareholders and above) or letter of authorization (one shareholder)
5) Copies of ID cards or passports of Board directors
6) Account opening application form of the bank
7)Others
5. For a sole proprietorship:
1) Validated Photostat copy of business registration certificate
2) Validated Photostat copy of application for business registration certificate
3) Photostat copy of proprietor's ID card or passport
4) Account opening application form of the bank
5) Authorization Letter
6) Others
6.For a partnership firm:
1) Validated Photostat copy of business registration certificate;
2) Validated Photostat copy of application for business registration certificate;
3) Photostat copy of operating partners' ID cards or passports;
4) Letter of authorization of partnership firm for accounting opening;
5) Account opening application form of the bank;
6) Authorization Letter
7)Others
7. For an association:
1) Photostat copy of validated meeting memorize as proof for establishment
2) Validated constitution and rules
3) Validated registration certificate
4) Letter of authorization of association for accounting opening
5) Photostat copy of validated certificate for legal representative's specimen signature
6) Account opening application form of the bank
7) Others
Ⅲ.Scope of Offshore Banking Services
BIN provides deposit services for all convertible currencies including USD, HKD, EUR, JPY, etc.
According to policies and rules, non-residential legal persons cannot withdraw cash, settle foreign exchange, or convert cash into spot exchange; but non-residential natural persons can withdraw cash and settle foreign exchange.
BIN provides all-sided international settlements, including T/T, documentary collection, opening import L/C, export L/C, forfaiting.
Ⅳ.Merits of BIN's Offshore Account Services
1)We may complete account opening and start its using within three working days upon collection of the required documents from the client;
2)No administration fee for offshore accounts at present;
3)BIN will inform a client promptly of each fund received viaE-mail.
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