So far as I know, the banks are more willing to help foreign entities (opposite to individuals) to open OSA account. Email. JasonAlina, OSA accounts cannot have cards to withdraw money from this account. Can I open a current offshore account (used for online transaction) in China when I am put on a tourist visa to China?Is it possible to withdraw cash when I am not in China?Also, does the local bank require initial deposits to open an account? i have not registered my Company in HK & China, Can i open My Bank account in China?Can i take do all types of Trading business in China through my account ?Hi Anna, there is a misunderstanding about NRA accounts. I am a Chinese lawyer.I am currently in UK. Find your friends on Facebook. Create Account. OSA Continuum; Photonics Research; Legacy Journals; Journal of Display Technology (2005-2016) Journal of the Optical Society of Korea (1997-2016) Journal of Optical Networking (2002-2009) Journal of the Optical Society of America (1917-1983) Optics News (1975-1989) Thanking you in advance.
Click Log in or sign up for Facebook to connect with friends, family and people you know. I have an Australian company and I would like to open a business bank account in China so I can pay the local suppliers small amounts of money because some local suppliers don’t accept international money transfers. Can I open a Chinese local bank account in UK?Hi Sonia, most banks require that you come to China to appear before them in order to open a bank account.I’m about to start a China based job from USA (most of it is online) and would like to know if instead of having this new company send me money to my US bank account which is Citibank, is it better to open a Chinese bank account and then I transfer money when I need it.. Can You help with this question please?Bob, you have no problem open a bank account in either RMB or USD.
In May 1989, China Merchants Bank became the first to pilot offshore banking services in P.R.C, approved by People’s Bank of China and State Administration of Foreign Exchange of China (SAFE). Is there another country that I can set up a bank account in that will allow me to make small transfers from my bank account to a local Chinese supplier? I am from Hong Kong and recently, I need a Chinese bank account for something. Kind regards, Lea-AnneNo, you will have to come over bringing all documents.I, owned a company registered in other country, would like to know if my company uses RMB to buy anything in China, what type of bank account should I open? At the moment, they don’t accept opening by agent on client’s behalf. If you open an account with a Chinese domestic bank, there won’t be such a requirement. The creation of OSA accounts back in 1989 marked China’s first venture into the world of offshore finance.
Click here to learn more. [1] as a non-resident foreign individual, am I allowed to open a OSA account in China ? I have also heard that it may be better to set up a bank account in Hong Kong and I can use the bank account in Hong Kong to pay the small Chinese suppliers.
Otherwise, they don’t really give it much attention to your personal letter. Such accounts are called “OSA” accounts in China’s banking administration.Currently, there are only four banks eligible to open OSA accounts for foreign entities and individuals, and they are not those state-owned mega banks (such as the Big Four). I cannot help with offshore legal issues. Strictly speaking, the interests accruing on the bank deposit is subject to Chinese enterprise income tax. Back in 1998, China has started its offshore banking business with some designated banks in China by allowing these banks to open forex accounts for foreign enterprises and individuals. Such accounts are called “OSA” accounts in China’s banking administration. Login or Create Account This website uses cookies to deliver some of our products and services as well as for analytics and to provide you a more personalized experience. Log In.
However it shall be noted that in most aspects, there are really similar from the perspective of account holders. All Rights Reserved This website uses cookies to deliver some of our products and services as well as for analytics and to provide you a more personalized experience. The eligible banks have independent OSA departments, separate from onshore banking business.In 2009, China State Administration of Foreign Exchange issued new rules allowing all banks in China (domestic or foreign-invested) to open foreign exchange accounts for foreign entities, facilitating foreign investors and Chinese investors to manage their foreign exchange fund.In SAFE’s 2009 rules, it made it clear that such non-resident account (called “NRA”) are not OSA accounts, creating now another option for foreign investors to open forex accounts in China.Now, the thing you want to know most is the difference between OSA accounts and NRA accounts. thanks.Hi, Mr tian. In May that year China’s Merchants Bank was the first institution authorized to provide the OSA service in Shenzhen. It is RMB account which cannot receive foreign currency fund such as USA or Eur. Sign Up. Is this correct? Researchers have demonstrated a new high-resolution x-ray imaging technique that can capture the motion of rapidly moving objects and quickly changing dynamics. You can reach him at his phone: +8613816548421, or his email: Only if other resources available (images, video, datasets)• Use these formats for best results: Smith or J SmithMeng Guo, Hongbo He, Kui Yi, Shuying Shao, Guohang Hu, and Jianda ShaoWen-Rong Qi, Rui Liu, Ling-Jun Kong, Zhou-Xiang Wang, Shuang-Yin Huang, Chenghou Tu, Yongnan Li, and Hui-Tian WangXiaoqiang Zhang, Guanghao Rui, Yong Xu, Fan Zhang, Yinchang Du, Mingtao Lian, Xiaoyang Lin, Anting Wang, Hai Ming, and Weisheng Zhao I have heard that if transfer money from my Australia business bank account to the Chinese business bank account the money that I transfer into the Chinese bank account is looked at as income and my business will be taxed on that income? Chïña Bôy II (Black China) See Photos. © Copyright 2020 | The Optical Society. Click Editor-in-Chief: Lan Yang, Washington University, St. Louis, USAFind more than 1 million images from OSA's core journals in Learn more about our response to COVID-19 including information for it unionpay, MasterCard, visa card.Can OSA accounts in China have a card related so that we can buy online different products from China with this card?