🇨🇳Account at CZCB (Zhejiang

Company documents

Different document packages are required for the company depending on the country of incorporation.

Hong Kong

Singapore

UAE

If your company is registered in another jurisdiction, we will need to clarify the list of required documents with the bankers.

Company information

Regardless of the company's country of incorporation, the following information must be provided

• description of company activities in 2-3 sentences (including services provided/goods sold)
• website (if available)
• estimated annual revenue
• names of 3-4 counterparties and their country of incorporation

Verification of persons for token issuance

When using CZCB banking, you will be issued two physical tokens: Operator and Authoriser.Operatorused to enter transaction information and upload documents.Authoriserused to approve transactions

Tokens must be issued to two different persons. Both persons must complete identity verification. Verification can be completed in three ways:

• Personal visit to the bank in Shanghai
• Sending original passport
• Sending apostilled copy of passport

private.law services

Service stages

1. Document collection — 1-3 weeks (depending on you)
2. Preliminary KYC process — 2-3 weeks
3. Opening CNY account — 2 weeks
4. Opening accounts in other currencies — 1 week
5. Token delivery — 1-2 weeks

Service provision

Services include:

• preparation of documents for account opening
• negotiations with the bank on behalf of the client
• submission of physical documents at the Shanghai branch of the bank
• office rental to confirm company address in Shanghai
• opening account in one currency

List of available currencies: CNY, USD, EUR, RUB, HKD, SGD, AUD, GBP.

Additional costs

Translation of documents to Chinese

All corporate documents must be translated into Chinese. Simple translation without notarization or apostille is sufficient.

Chinese translation is not required for companies registered in Hong Kong.

Theprivate.lawteam can assist with arranging translation. Translation cost by agreement.

Apostille

If you choose verification of the person to whom the token will be issued using an apostilled notarized copy of passport. You may choose verification by another method.

Theprivate.lawteam can assist with arranging apostille in the Russian Federation for a Russian passport:

Delivery

You will need to send documentsto Chinain the following cases:

• If you choose verification of the person to whom the token will be issued using an apostilled notarized copy of passport
• If you choose verification of the person to whom the token will be issued by sending original passport
• If you decide to send a ready company seal for affixing on account opening documents

You will need to receive documentsfrom Chinain the following cases:

• If you choose remote account opening — you will be sent physical tokens and account documents

Using online banking

You may use the instructions below for using the banking system

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