GSL / Offshore and International Law / Offshore Banking / China Construction Bank (Asia)

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

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

January, 2016

Last contact

December, 2022

Last update

September, 2022
  • 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

GSL rating
Beginning of cooperation
January, 2016
Last contact
December, 2022
Last update
September, 2022
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General information and rating

2
Global rating
9
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
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
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    500
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    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

    10
    Outcoming transfer, €
    0
    Incoming transfer, €
    60
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    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

    Days to open for incoming transfers
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Not necessary
    Purpose of the account
    Current
    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
    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

    Banks of Hong-Kong

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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