China Bank Shanghai Branch's witness handling process for personal overseas loan:
1. The customer needs to fill in the Application Form for Personal Overseas Loan Credit Witness Service and sign for authorization. After verifying the authenticity, validity and accuracy of the content, the bank will fax/scan it to the other institution for signature and confirmation, and then return it.
Note: Some overseas institutions require that the credit witness procedures be handled by customers themselves, and it is not allowed to entrust others to handle them.
2. If the notification materials of overseas institutions have passed/do not need to pass the preliminary examination, if it is necessary to send a paper copy, the domestic institution shall notify the customer to mail the witness materials to the overseas institutions. If the customer entrusts our bank to mail the witness materials on his behalf, he should ask the customer to check the corresponding items in the service application form and sign the power of attorney before proceeding.
3. If the feedback materials from overseas institutions fail to pass the preliminary examination, the domestic handling institution shall assist the customer to supplement the required materials or adjust/cancel the overseas loan application according to the suggestions of overseas institutions. After the supplementary materials have passed the preliminary examination by overseas institutions, if the overseas institutions require to mail paper documents, the domestic agencies shall notify the customers to mail the witness materials to overseas institutions.
The above contents are for your reference. Please refer to the actual business regulations.
How to apply for cross-border RMB loans?
What is a cross-border loan? What is the process of cross-border loan business? What is the expected annualized interest rate for cross-border loans? How long is the term of cross-border loans? What are the business models of cross-border loans? The following is for you:
1. What is a cross-border loan?
Enterprises registered in Qianhai and actually investing in Qianhai borrow RMB funds from banks operating RMB business in Hong Kong. The prerequisite for cross-border loans refers to enterprises registered and established in Qianhai and actually operating or investing in Qianhai.
2. What is the business process of cross-border loan?
1. The loan enterprise first submits an application for cross-border loan filing to the People's Bank of China through the domestic settlement bank.
2. Domestic settlement banks open general deposit accounts in Qianhai for loan enterprises to deposit cross-border RMB loan funds. Cash receipt and payment business is not allowed in this account, and the expected annualized interest rate of deposit is implemented according to the expected annualized interest rate of current demand.
3. Before the loan funds are recorded, the loan enterprise shall first submit the loan contract, instructions for the use of funds and the filing form of the People's Bank of China through the settlement bank.
4. Before the loan funds are used, the loan enterprise shall submit the relevant certification materials (purchase contract or invoice) for the use of the funds to the domestic settlement bank.
5. The loan funds shall be settled by cross-border payment through overseas RMB clearing banks or domestic correspondent banks.
6. Domestic settlement banks and enterprises provide guarantee for loan funds by means of guarantee, mortgage or pledge.
3. What is the expected annualized interest rate for cross-border loans?
The expected annualized interest rate of cross-border RMB loans in Qianhai shall be determined by both borrowers and lenders independently, and shall be filed with Shenzhen People's Bank before the loan is issued. The expected annualized interest rate of the loan is around 3%-4%.
4. What is the term of the cross-border loan?
The term of the loan is not fixed, and the borrower and the borrower shall independently determine it within a reasonable range according to the actual use of the loan.
Verb (abbreviation of verb) business model of cross-border loan
1, bank acceptance bill pledge
The enterprise pledges the bank acceptance bill it receives to the bank, and the bank gives it a credit line not higher than the effective evaluation value of the cross-border RMB loan of the bank acceptance bill.
2. Asset mortgage/pledge
Enterprises provide real estate, securities and other assets. As collateral or pledge to the bank, the bank gives a credit line not higher than the effective evaluation value of the collateral of cross-border RMB loans.
3. Borrow the existing credit line of the company's shareholders.
Corporate shareholders will allocate its existing credit line in the bank to enterprises for cross-border RMB loans, and corporate shareholders must provide guarantee. The premise of this operation scheme is that the existing credit banks among enterprise shareholders and the banks that enterprises apply for cross-border loans must be the same bank.
4. Enterprises apply for new credit lines and use cross-border loans.
According to the bank's credit products, enterprises apply for a credit line from the bank according to the conventional credit standards, and after the credit line comes down, they operate in the form of cross-border lending.
What is the credit witness of China Bank acting as an agent for personal overseas loans?
Personal credit witness of overseas loans of Bank of China Shanghai Branch: Domestic institutions of Bank of China provide domestic personal credit witness services for customers who apply for personal loans from overseas institutions of Bank of China in accordance with the requirements formulated by overseas institutions according to local laws, regulations and regulatory requirements. Including but not limited to personally meeting customers, witnessing the original documents proving the customer's identity, property, account, credit, financial transactions and other information, stamping and signing the original/copy of the materials to be witnessed, confirming that the witness materials are true and valid and the copy is consistent with the original, and feeding back the audit results to overseas institutions after the audit.
The above contents are for your reference. Please refer to the actual business regulations.
The difference between overseas loans and overseas loans
Overseas borrowing refers to the money that an enterprise borrows from financial institutions (excluding domestic and foreign financial institutions), enterprises, individuals or other economic organizations outside China to undertake contractual repayment obligations.
"Overseas loan" refers to the behavior that a domestic bank with the ability of international settlement business directly issues this loan to overseas enterprises within the approved business scope, or indirectly issues this loan to overseas enterprises for more than one year (excluding one year) by borrowing funds from overseas banks.
Bank of China Shanghai personal overseas loan credit witness fee standard?
Standard of credit witness fee for overseas loans of China Bank Shanghai Branch:
1. The maximum service fee for personal overseas loan credit witness business is 5000 yuan/transaction. In order to ensure that customers voluntarily entrust our bank to handle this business and pay related fees, they should obtain the written consent of customers before providing services and charges.
2. If the customer applies to cancel this service after paying the service fee for personal overseas loan credit witness business, or if this service fails for some reason and the agency has provided the service, the paid fee will not be refunded. If the credit witness service has not been completed, the institution may, at its discretion, refund part/all of the fees charged to customers.
Note: Fees charged by external institutions in the course of business handling (such as mailing fees for materials) should be calculated and charged separately.
The above contents are for your reference. Please refer to the actual business regulations.