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How to open a bank account in China Construction Bank (Asia)

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January, 2016 December, 2021 March, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens current accounts;
- does not make excessive demands on information and additional documents;
- no requirements for the minimum balance or turnover, low tariffs;
- the director must travel to Hong Kong;
- an account can only be opened for a Hong Kong company (with a real office in Hong Kong);
- the presence of real activities related to Hong Kong or China, the Asian region is mandatory;
- Online Banking system with English interface;
- the term for opening an account - case by case (check with the consultant);
- the list of "registered beneficiaries" is provided to the Bank by the director.
China Construction Bank (Asia) is a subsidiary of a large Chinese bank

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    Bank's characteristics

    General information and rating

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    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    2 9 N/R
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    Year of foundation 1954
    History The predecessor of China Construction Bank (Asia), Bank of Canton, was founded in 1912 and acquired by Security Pacific National Bank in 1988. In 1992, the bank became part of Bank of America and was renamed Bank of America (Asia) in 1993. In 2006, the bank was bought by China Construction Bank (CCB) for HK $ 9.7 billion. Bank of America (Asia) was renamed China Construction Bank (Asia) the following year. The bank has 44 branches in Hong Kong
    Personnel The staff speaks Chinese and English
    Bank’s shareholders The bank's shareholder is China Construction Bank (CCB)
    Confidentiality Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

    Minimum requirements

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    500 1 No restrictions
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    Transactions permitted per month The number of translations is not limited
    Initial deposit of funds, € The initial payment is 500 EUR
    Deadline for the initial deposit, month Must be deposited within the first month
    Minimum turnover, €/year There are no limiting requirements of the bank on minimum turnovers
    How fast payments are executed Payments are made on the same day, maximum - the next business day

    Tariffs and services

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    10 0 60 N/A N/A
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    Outcoming transfer, € The translation cost is 100 HKD. The limit on international transfers for registered users via Internet banking is 500,000 HKD (50,000 EUR), for unregistered users - 50,000 HKD (5,000 EUR). In case the client uses banking financing services, the limit can be increased to 200,000 EUR per transaction
    Incoming transfer, € The Bank does not charge a fee for crediting
    Account maintenance, €/year Account maintenance is free. If the account balance is less than 5,000 HKD, the bank charges a commission of 50 HKD per month
    Distant access to the account There is an Online Banking system with an English interface
    Financial products The bank provides a wide range of banking and financial services, including loans, insurance, deposits, credit cards, Online banking

    Account opening procedure

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    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    case by case case by case Not necessary Detailed Current
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    Visit to the bank Visiting the bank is required
    Required Standard set of corporate documents of the company. A set of copies of documents of a foreign shareholder. Copy of Certificate of Incumbency. Copies of Russian and foreign passports of the director and beneficiary.
    Types of accounts Personal; Corporate; Current
    Chances to open an account Predictable
    Business description Requirements for the description of activities are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the beneficiary of the account and contact information
     
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