In November 2019, the people’s Bank of China issued a notice in Hebei Province, Zhejiang province and Shenzhen City to pilot large-scale cash management trials. This involves the imposing of cash management requirements on public accounts of at least 500,000 yuan and private accounts of at least 100,000 yuan in Hebei, 300,000 yuan in Zhejiang, …
With the help of globalisation and digitisation, the world is getting smaller. Companies can operate internationally with offices and business networks in the far reaches of the globe. Yet, as more and more businesses are moving online, their physical existence in the city is being compromised. Thus, bank account opening is essential for companies to …
Banking Service: The Regulation of Bank Account Opening Read More »
The rise of globalisation and digitisation in recent years has brought the world together, making business ventures across the globe much easier and convenient. This has thus encouraged many high-net-worth individuals and businesses to begin venturing into overseas investments and business expansion. Nonetheless, whether it is an investment or business expansion, opening a bank account …
In a research by McKinsey revealed that more than 40 of the world’s 100 largest banks by assets are Asian banks and it accounts for approximately 50% of the market capitalisation by the top 100 banks globally. With rising incomes and the growing middle-class, emerging markets of Asia will continue as a major engine of …
Hong Kong vs Singapore – The best place to open a bank account in Asia? Read More »
With so many countries that you can open an offshore bank account in, where should you begin? Since an offshore bank account is simply defined as a bank account one opens in a territory that is outside of your origin country, offshore bank accounts can technically be set up in any country in the world. …
Offshore banking is two words that man alludes to money laundering and corrupt activities. Despite its controversies, offshore banking is not always associated with financial fraud or conniving capitalists. Offshore banking refers to the use of foreign banking services that do not operate within one’s home territory. In the US alone, there are reportedly more …
There have been many common misconceptions often associated with the offshore and onshore bank accounts and these may have created confusion concerning their use and their differences. Find out what are the differences between them and how they can benefit your business.
