cryptohunter
Active member
- PPF Points
- 2,738
People from other countries can open bank accounts in China as long as they follow the rules. The State Administration of Foreign Exchange (SAFE), working under the big bank in China (PBOC), is in charge of making sure everything follows the regulations.
To open a bank account in China, non-residents usually have to use a trusted financial institution and follow SAFE's rules. This means showing documents like ID, proof of where they live, and details about where their money comes from.
A lot of times, non-residents use Special Purpose Vehicles (SPVs) to make offshore money moves easier. These SPVs are often set up in places like Hong Kong to make cross-border stuff smoother.
To open a bank account in China, non-residents usually have to use a trusted financial institution and follow SAFE's rules. This means showing documents like ID, proof of where they live, and details about where their money comes from.
A lot of times, non-residents use Special Purpose Vehicles (SPVs) to make offshore money moves easier. These SPVs are often set up in places like Hong Kong to make cross-border stuff smoother.
