What Is an Offshore Banking Unit?
Offshore banking is a financial activity that serves non-residents, and banks absorb non-resident funds. The bank's service targets are natural persons (including Hong Kong, Macao, and Taiwan regions), legal persons (including overseas Chinese investment enterprises registered overseas), international organizations of government agencies, and other economic organizations, including overseas branches of Chinese-funded financial institutions.
Offshore banking
Right!
- The currency of offshore banking is limited to
- Free transfer of funds:
- Client's
- Forex Deposit
- Forex loans
- Interbank foreign exchange borrowing
- International settlement
- Issue large transferable certificates of deposit
- Foreign Exchange Guarantee
- Consulting and witnessing business
- Other businesses approved by the State Administration of Foreign Exchange
- Types of offshore accounts
- HKD savings account
- Foreign currency savings account
- HKD current account number (checking account number)
- USD checking account
- HKD wealth management account
- Foreign currency wealth management account
- Internet account
- Import and Export Letter of Credit (LC)