Overseas asset allocation, a necessary arrangement? – CIMB bank account
With the development trend of economic globalization, more and more people begin to pay attention to overseas investment and asset allocation. The establishment of an overseas bank account is the first step of investment, but also one of the necessary conditions for business exchanges and development.
CIMB Bank is Malaysia’s second-largest bank and is headed by Nasir Rasa, the brother of Prime Minister Najib Razak. It is spread throughout Southeast Asia, with CIMB Islamic Bank in the Middle East and representative offices in Shanghai, New York and London. Having a CIMB bank account is the equivalent of having a globally competitive overseas bank account.
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About CIMB Bank
Commerce International Merchant Bank (CIMB), is the second largest bank in Malaysia.
CIMB Group is a leading universal bank in Asean and one of the most important corporate advisers in the region. Headquartered in Kuala Lumpur, Malaysia, it provides consumer banking, commercial banking, investment banking and asset management products and services. It is the fifth largest banking group in Asean by assets, with about 33,000 employees and more than 19 million customers as of end-June 2022.
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CIMB Bank account advantage
1. High credibility
Malaysia enjoys a high reputation in the world due to its developed banking industry. It is more secure to realize the internationalization of assets, more convenient for financing, deposit and loan, and easier to obtain international capital support.
2. High freedom of trade
Malaysia is an independent sovereign state with a higher threshold in terms of information connectivity. At the same time, Malaysia is a member of the Association of Southeast Asian Nations, has signed a free trade agreement with China, and is a global financial center and foreign trade center.
3. No foreign exchange controls
Malaysia has an independent financial market management system, is not subject to foreign exchange controls, funds can be freely transferred across countries.
4. Perfect tax system
Malaysia is one of the developed countries with the lowest tax rate in the world. Its tax system is simple and low. The corporate income tax rate is 24%, the tax rate is low, there is no capital tax, and capital can flow freely in major financial centers.
5. Security and confidentiality
Malaysian banks attach great importance to the privacy of customers. The Malaysian Monetary Authority has also set up strict supervision and punishment mechanisms to ensure the security and privacy of customers’ accounts.
6. Global configuration
To open an account in Malaysia, investors can choose to invest in a single currency account or a multi-currency account, with a variety of currencies and investment products, covering the world.
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CIMB Bank account opening guide
1. Account opening information
- Documents of incorporation of the Singapore company (Certificate of incorporation, registration paper, articles of association);
- identity documents required;
- Id cards and passports of directors and shareholders
- All shareholders and directors (including the acting director) have their passports/ID cards signed on the left and on the right
- All shareholders and directors (including acting directors) holding passports and ID cards are photographed on the left and on the right
- Complete the KYC form as required;
- Two sets of business documents;
- The first page of the articles of association shall be signed by at least two directors.
2. Account opening requirement
- The bank account of the enterprise must be applied for after the establishment of the overseas company;
- Company registration form;
- Articles of association (if customized);
- Resolutions of the directors’ Department of the Company;
- ID cards, passports or other identification of the directors or shareholders ;
- Have good banking records and are not declared bankrupt.
3. Account opening procedure
- Submission of data and declarations;
- Bank audit;
- Reply to bank email instructions;
- The account will be available within 2-4 weeks.
CIMB Bank can open accounts remotely by video without having to go to the site. Lesser information required, faster application, it is the best choice for you to carry out overseas business activities.
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Go Global Gem has a deep cooperation with CIMB Bank. If you need to open an CIMB Bank account, please consult Go Global Gem. There will be a special person to contact you for one-to-one service. You can scan the QR code below to add customer service on WeChat, or leave us a message. Go Global Gem will serve you wholeheartedly.