China Corporate Bank Account

Until lately, foreign banks were not permitted to operate branches in China. Consequently, the concept of a China corporate bank account which serves the needs of global businesses is a new one. In this newly developing banking environment, a China corporate bank account is nevertheless an attractive option for businesses looking for local banking support and knowledge in this rapidly expanding market. The development of the banking environment is rapidly advancing with many leading banks such as HSBC, Standard Chartered and Citibank having a strong presence in China.
The following information will help you determine whether a China corporate bank account is an appropriate option for your business:
1.	China is in the midst of great economic and regulatory reform, including the banking sector. Clients wishing to open a China corporate bank account should note that the banking system is still evolving. Procedures to open a China corporate bank account are sometimes complicated, although with many of the world's leading banks now opening branches in the country in a more competitive sector, this situation is improving.
2.	A China corporate bank account is very suitable for companies conducting business within China, including those industries such as consumer and retail, financial institutions, healthcare, infrastructure, real estate, resources and energy.
3.	Opening a corporate bank account in China can be a lengthy process as there are many documents and approval agreements that are required. Healy Consultants will deal with obtaining these documents to ensure an easy set up.
4.	Healy Consultants can open a China corporate bank account on our clients' behalf without any need for our client to visit China.
5.	Healy Consultants can pay the initial bank deposit to the Chinese bank on our client's behalf. A scanned copy of the bank deposit slip is emailed to our client as verification of the payment.
6.	Some of the trade-related services offered via a China corporate bank account include documentary credit, import loans, shipping guarantees, export finance and other services.
7.	For Healy Consultants to assist our clients to open a China corporate bank account without them visiting China, we require certain due diligence information including: notarised copies of passports and driving licence's of all directors; the company's corporate documents, including Certificate of Incorporation, Memorandum and Articles and Directors/Trustees resolutions. This documentation must be certified by the local branch of the Chinese or international bank (or by a notary public) in the client's home country, as well as and evidence of the company's field of business (e g sample invoices or purchase orders etc).
Healy Consultants Fees to help open a China Corporate Bank Account
Our fee to assist you to open a China corporate bank account amounts to US$4,950. This fee includes:
1.	Healy Consultants' international banking team completing the China corporate bank account application form on behalf of our client, and obtaining our client’s signature.
2.	Healy Consultants' international banking team creating a detailed business plan relating to our client's company to support the China corporate bank account application. The business plan provides details of the company's products and services offered, the company’s activities, details of the company's suppliers and some information on its clients and intended markets.
3.	Healy Consultants' international banking team submitting the China corporate bank account application form and business plan to the bank, together with the personal and corporate information outlined above.
4.	Healy Consultants' local officer attending a bank interview in China on your behalf, describing your global business activities and explaining why you require a China corporate bank account. As described above, Healy Consultants can open a China corporate bank account without the bank signatory and beneficial owners’ presence.
5.	Paying the initial bank deposit to the Chinese bank on our client's behalf. A scanned copy of the bank deposit slip is emailed to our client as verification of the payment.
6.	On behalf of our client, Healy Consultants applies for corporate internet banking facilities to accompany the China corporate bank account.
7.	On behalf of our client, Healy Consultants applies for an ATM card, a corporate credit card and a cheque book to accompany the China corporate bank account.
8.	Healy Consultants' international banking team receiving approval from China for the opening of the China corporate bank account.
9.	Healy Consultants receiving the China corporate bank account Internet login and password information in a sealed letter that is passed directly to our client.
10.	Healy Consultants receiving a corporate cheque book in a sealed letter that is passed directly to our client.
11.	Healy Consultants receiving credit and ATM cards in a sealed letter that is passed directly to our client.
Please note that our fee to open a China corporate bank account does not include the initial deposit required by the bank.
Contact Us
For additional information on any of our China corporate bank account services, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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