CBiBank advantages, account-opening requirements and commonly asked questions

CBiBank (CB International Bank) is a U.S. commercial bank with a U.S. banking license, regulated by U.S. financial regulators and secure capital. Due to its numerous advantages, overseas enterprises have sought to open their accounts through CBiBank.

So, what are the requirements for a company to open a CBiBank account? Today, we will show a detailed introduction.

What are the advantages of CBiBank?

1.     Advantages of CBiBank:

1. The U.S. banking license;
2. A member of the Society for Worldwide Financial Telecommunication (SWIFT: CBLBPRSJ)
3. A member of UnionPay International in North America;
4. A member of the American Bankers Association (ABA: 021508125);
5. The qualified foreign investor status of CSRC;
6. Can carry out cross-border renminbi participating banks clearing cross-border renminbi business;
7. A registered dealer in China’s inter-bank market;
8. A member of the foreign currency market of China Foreign Exchange Trade System.

*The Image From CBiBank

2.     Features

1. Real account: financial bank account, online banking security hardware configuration UKEY;
2. Friendly opening policy: Supports the establishment of new companies; Supports archipelagic offshore company account opening; Supports individual businesses to open accounts;
3. Convenient process: No offline counter processing, no mailing of information required. CBiBank APP video signing in person. New account in 3 to 5 working days;
4. Stable account: No special maintenance after account opening; front risk control; completes the receipt and payment declaration as required; no unexplained account closure; no unexplained freezing of funds.
5. Global collection and payment: Supports flexible allocation of funds worldwide, collection and transfer, information isolation, and privacy protection;
6. Supporting currency: US dollar, Euro, British Pound, Hong Kong dollar, Japanese yen, Canadian dollar, offshore RMB; the exchange of offshore RMB, US dollar, euro, Hong Kong dollar, pound sterling and other currencies;
7. E-commerce collection: Domestic overseas e-commerce, European and American e-commerce collection settlement (Amazon, eBay, Wish, Tmall International, Jingdong International, Suning International, Pinduoduo, etc.);
8. Salary payment: transfer from public to private bank accounts, supports enterprise salary, bonus, dividend and other rights and interests, Yu ‘e Bao;
9. Foreign exchange settlement: Enterprise foreign exchange settlement (unlimited; individual foreign exchange settlement (foreign exchange quota of 50,000 USD + 500,000 RMB (excluding 50,000 RMB);
10. Corporate finance management: High-quality dollar asset allocation with rich returns.

*The Image From CBiBank

 

Account opening requirement

1.     Countries/regions that can open a CBiBank account

It supports opening accounts of companies registered in non-sanctioned  and non-high-risk countries and regions and companies in island countries. Still, you are not able to open accounts of such enterprises in China and in the United States.

2.     Industries that can open a CBiBank account

Goods trade, retail wholesale, cross-border/overseas e-commerce, logistics forwarding, finance/investment/ funds, IT/advertising/games/consulting/services, education / medical / entertainment.

3.     Account opening requirement

Identity requirements for shareholders, directors and individuals:

Id card (passport, ID card), proof of address: bank statement with address (please consult your account manager for details).

*The Image From CBiBank

 

Account opening procedures and documents

1.      Account opening process

Expected opening period (3-5 working days) :

Account opening delivery (information submission) → client payment → information checking → client sign in person → due diligence → account opening → Ukey delivery.

2.      Account opening information

1. Company registration documents (registration number, registration name, registration country, registration address, registration time, tax identification number (if applicable), business registration information, disclosure documents of directors and shareholders Information);
2. Articles of association;
3. Equity structure chart;
4. Resolutions of the Board of directors authorizing account opening on behalf of the Company (if applicable);
5. Information of relevant personnel of the Company (shareholders, directors, authorized signatories, online banking operators, contacts, etc.);
6. Company-related personnel documents (identity documents can be an ID card, passport, driver’s license or other issued by the government to prove nationality or residence and with photos);
7. Address proof documents of relevant personnel of the Company (valid documents can replace it with address information, such as bank statement with an address within 6 months, government letter, water, gas and property management fee bill, etc.);

Note: There are differences between enterprise registration and annual audit documents in different countries and regions. Please consult your account manager for details of the account opening information list.

FAQs

1.      What are the fees for opening an CBiBank account?

A: Account search fee, account management fee, UnionPay credit card payment fee, US dollar telegraphic transfer fee, UnionPay online payment total, US dollar telegraphic transfer payment total (please consult your dedicated account manager for details of the fee).

2.      Which countries are eligible for account opening preferences?

A: You can enjoy specific preferences if you open a CBiBank in the following countries/regions: self-employed people in mainland China, Hong Kong, Macao, Taiwan, Singapore, South Korea, Japan, UK, France, Germany, New Zealand, Ireland, Canada, and Australia.

3.      Which countries are not eligible for account opening preferences?

A: The following countries / regions can not enjoy account opening preferences: BVI, Cayman, Seychelles, Marshall Islands, Samoa, Isle of Man, etc.

4.      What are the remittance transfer fees included?

A: Inter-bank inward and outward remittance, and intra-bank transfer (fees vary according to preferential/non-preferential countries).

5.      How much does it cost for enterprises or individuals to settle foreign exchange?

A: Enterprise foreign exchange settlement (unlimited), individual foreign exchange settlement (50,000 USD quota + 500,000 RMB quota

Note: The pictures, information and data in this article are from the CBiBank. Unauthorized reprinting is strictly prohibited!

*The Image From CBiBank

 

What else do you wish to know about opening an CBiBank account? Feel free to contact us. We will provide business services, overseas asset allocation, overseas identity planning and other integrated solutions for going abroad.

 

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