What Is Offshore Banking?

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)