- Offshore banking accounts
Bank of china
Bank of China
Bank of China, or Bank of China Limited in full, is one of China's four state-owned commercial banks. Its businesses comprise commercial banking, investment banking and insurance. Members of the group include BOC Hong Kong, BOC International, BOCG Insurance and other financial institutions. The Bank provides a comprehensive range of high-quality financial services to individual and corporate customers as well as financial institutions worldwide. In terms of tier one capital, it was ranked 18th among the world's top 1,000 banks by The Banker magazine in 2005.
Comparison of the procedure for opening an account with the Hong Kong Bank of China and domestic Bank of China:
| Bank of China, HK | Domestic Bank of China | |
| Important Notice | Please submit the following: (1). Complete registration information (2). Proof of address of directors (3). Directors ID cards, pass or passport Richful can help to make an appointment with one day's notice; Allowed to conduct Internet Banking; At least two directors must go to the bank. |
The company can open an account after being established for one month, the limit in cash per day is US$10,000, Not allowed to conduct online banking. |
| Account Opening Activation Fee | Search Fee HK$100; Internet Banking Certificate : HK$132 |
Search Fee: RMB200 HK$800 must be deposited to open an account. |
| Transfer-In fees | HK$20/T (if transfer-in is over HK$1000) | NIL |
| Transfer-out fees | HK$100 per 1,000 (if via internet banking) HK$100 per 1,000 (if via Bank Counter) |
Remittance amount + 1%(HK$50 - 80) + postal fee. |
| Cash withdrawal via Counter Service | No fee to withdraw cash | HK$ in cash : 1.5% US$ in cash: 2.5% |
| Letter of Credit Application Fees | Service charge is 0.5% per year of total LC + postal fee + admin charge plus: (1). 0.25% if under US$50,000 per LC (2). 0.125% if over US$50,000 per LC |
Credit amount x 0.125% (if above US£50,000, x 0.625%) + postal fee. |
| BVI company accounts | (1). Company Search fee: HK$3000 (2). Complete registration information (3). Certificate of Incumbency |
NIL |
| American company account | Same as above | NIL |
| British company accounts | Same as above | NIL |
| Bank management requirements | NIL | Fee of HK$50 per month, if less than HK$500 in one month |