Offshore account is a bank account opened outside the mainland, and there is no corresponding office in China. Individuals open multi-currency accounts, and only companies open them in the name of offshore account. Therefore, if you want to open offshore account, you must first have an offshore company. Compared with NRA accounts, offshore account is less subject to foreign exchange control. From the perspective of capital security, offshore account is safer and the supervision of the State Administration of Foreign Exchange is not so strict.

The main purposes of offshore companies are:

1, after you have your own offshore company, you can do business in the name of the company, apply for membership of foreign trade websites or participate in overseas exhibitions, and the company will rise from now on. It will be much better to talk about business in the name of a company than in the name of an individual.

2. Open a foreign currency account in Hongkong or Chinese mainland to receive foreign exchange, receive T/T and L/C in the name of the company and issue invoices, and then have a foreign currency account of the company. For example, if you open a offshore account in China Merchants Bank, you can receive remittances from foreign companies. It takes 2-4 working days for foreign funds to come in.

3. In terms of shipment, you usually export by paying the bill (verification form) (a qualified freight forwarder can help you basically solve the problems of shipment/customs declaration/commodity inspection), and the freight forwarder is a good helper. If it is a small piece of goods, it can also be handed over to DHL, and the procedure is simpler;

4. Bank operation, you can apply for online banking when you open an account, and then you can check accounts online, transfer money, and transfer it to a domestic private account or a factory foreign currency account. After being transferred to a private account, you can settle foreign exchange, that is, exchange it for RMB.

Offshore account has no control over foreign exchange, and foreign exchange can enter and leave freely, no matter what currency or amount, it is freely collected, which is convenient for you to do international trade.

Offshore account banks that can be opened in Chinese mainland are:

Offline processing: Standard Chartered Bank and HSBC.

Online processing: CBI of Bank of America.