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

April, 2024

Last update

October, 2023

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.

GSL rating

Beginning of cooperation

January, 2016

Last contact

April, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

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). Bank of America (Asia) was renamed China Construction Bank (Asia) the following year

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 EUR 500

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 HKD 100. The limit on international transfers for registered users via Internet banking is HKD 500 000 (~ EUR 50 000), for unregistered users - HKD 50 000 (EUR 5 000).

In case the client uses banking financing services, the limit can be increased to EUR 200 000 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 HKD 5 000, the bank charges a commission of HKD 50 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 passports / ID 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

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