Article 4 of the Provisions on the Administration of Domestic Foreign Exchange Accounts

Domestic institutions that meet the following conditions may apply for opening foreign exchange accounts abroad:

(1) Having regular sporadic income abroad and needing to open a foreign exchange account abroad and remit the income back to China;

(2) Having sporadic expenses abroad and needing to open a foreign exchange account abroad;

(three) to engage in overseas contracted projects and need to open a foreign exchange account abroad;

(4) To issue foreign currency securities abroad, it is necessary to open a foreign exchange account abroad;

(five) due to special business needs, it is necessary to open a foreign exchange account abroad.

Article 5

To open a foreign exchange account abroad, a domestic institution shall apply to the foreign exchange bureau with the following documents and materials:

(1) An application signed and stamped by the legal representative of the domestic institution or its authorized person. The application shall include the reason for opening the account, currency, maximum amount of the account, purpose, income and expenditure range, service period, bank to be opened and its location, etc.

(2) The original and photocopy of the business license issued by the administrative department for industry and commerce;

(3) The internal management system for the use of overseas accounts;

(4) Other documents and materials required by the foreign exchange bureau.

Engaged in overseas engineering contracting business, in addition to providing the above documents and materials, it shall also provide relevant engineering contracts; When a foreign-invested enterprise opens a foreign exchange account abroad, it shall, in addition to the above-mentioned documents and materials, provide the foreign exchange registration certificate of the foreign-invested enterprise and the capital verification certificate that the registered capital of the registered accounting firm has been paid in full.

Article 6 The foreign exchange bureau shall give a reply within 30 working days after receiving the documents and materials specified in the preceding article.

Article 7 A domestic institution may open a foreign exchange account abroad only after being approved by the foreign exchange bureau.

Second, the account opening procedure

1. All domestic institutions and domestic institutions (hereinafter referred to as account-opening units) that meet the requirements for the administration of domestic foreign exchange accounts can open foreign exchange accounts.

2. When applying for opening an account, the account opening unit can choose its own bank according to its own situation. The head office and its branches of the deposit bank operate foreign exchange business.

3. The account opening unit shall provide all the materials required for opening an account according to the requirements of our bureau. After the account is approved by our bureau, it shall go through the account opening formalities at the bank with the "Approval Letter for Opening a Foreign Exchange Account" within 30 working days. The bank that opens an account shall fill in the receipt of the Approval for Opening a Foreign Exchange Account and return it to the account-opening unit, which shall, within 5 working days after opening an account, go to the foreign exchange bureau with the receipt to receive the Foreign Exchange Account Use Certificate. If the account-opening unit fails to go through the account-opening formalities at the account-opening bank for more than 30 working days, the approval letter for opening a foreign exchange account issued by the foreign exchange bureau will automatically become invalid.

4. An account-opening unit can only open one foreign exchange account of the same nature in principle. If it is really necessary to open more than two accounts due to business needs, the foreign exchange bureau will strictly examine and approve them according to the specific circumstances.

5. If the account-opening unit loses the Approval Letter for Opening a Foreign Exchange Account or the Certificate for Using a Foreign Exchange Account, it must be declared invalid in the newspaper, and go through the formalities at the foreign exchange bureau with an announcement in the newspaper and an application for re-filing.

Extended data

Provisions on the administration of domestic foreign exchange accounts

Article 14

Domestic institutions shall, within 30 working days after the expiration of the use period of overseas foreign exchange accounts, report the Notice of Bank Cancellation of Overseas Foreign Exchange Accounts to the foreign exchange bureau for filing, remit the balance to China, and provide a list of accounts; If it is necessary to postpone the use, a written application shall be submitted to the foreign exchange bureau within 30 working days before the expiration, and the use can be continued only after the approval of the foreign exchange bureau.

Article 15

Domestic institutions shall keep complete accounting data of overseas foreign exchange accounts. Domestic institutions shall provide a copy of the bank statement of the previous quarter to the foreign exchange bureau at the beginning of each quarter 15 working days; A written explanation of the use of funds in the previous year shall be provided to the foreign exchange bureau before June 30 each year.

Article 16

If a domestic institution commits one of the following acts, the foreign exchange bureau shall order it to make corrections, cancel its overseas foreign exchange account, informed criticism, and impose a fine of 50,000 yuan to 300,000 yuan:

(1) Opening or delaying the use of overseas foreign exchange accounts without approval in violation of the provisions of Articles 7 and 14 of these Provisions;

(2) Opening an overseas foreign exchange account in the name of others without authorization in violation of the provisions of Article 8 of these Provisions;

(3) Renting, lending or using an overseas foreign exchange account in violation of the provisions of Articles 12 and 13 of these Provisions, and changing the opening bank, income and expenditure scope and maximum amount of the overseas foreign exchange account without authorization;

(four) in violation of the provisions of article fifth, article tenth, article thirteenth, article fourteenth and article fifteenth, providing false documents and materials;

(5) Failing to provide documents and materials to the foreign exchange bureau in violation of the provisions of Articles 10, 14 and 15;

(six) other acts in violation of the provisions.

Refer to Baidu Encyclopedia's domestic foreign exchange account management regulations.