Bank Accounts

Bank Accounts

Qatar (1)

INTERSHORES I Qatar Investment Authority Becomes Second Largest Shareholder In Credit Suisse

The Qatar Investment Authority (QIA), the country’s sovereign wealth fund, becomes the second-largest shareholder in Credit Suisse holding 6.8% of the bank’s shares, according to the filing on 20 January 2023. This puts the QIA in second place to 9.9% stake purchased by the Sauid National Bank. Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email : info@intershores.hk Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or...
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AML-Compliance-1

Mobile CFO To Solve The Bottleneck Of Bank's Request For Customer Profile Review

Certain major bank in Hong Kong are sending letters to company account holders for compliance review to fulfill ongoing monitoring under AML & CFT Ordinance. Pandemic make business life challenging. Busy entrepreneurs may find this a headache as the process is time-consuming. It might also be risky when the irrelevant information is submitted to bank resulting in account closure and business interruption. We recommend that a good business plan should be prepared to keep the bank happy about your business and may even increase your credit limit. Welcome to contact Intershores to help you deal with this administrative issue so that you can stay focus at your business. Contact us for...
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swiss bank

INTERSHORES I Bank Syz Now Offers Bitcoin, Ethereum, MATIC And LINK Trading

Swiss Bank Banque SYZ (Bank Syz) with $30B in AuM announced on 5 December 2022 the launch of its“Syz Crypto” offering, which would see the Geneva-based firm provide its Swiss and international clients with digital asset services, including trading and custody. At the launch of the offering, Bank Syz will support Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and Chainlink (LINK) and had picked top platforms with a track record of premium trading services for its crypto trading offering. Its custody services will be powered by Swiss crypto custody provider Taurus which, with its Taurus-Protect custody solution, provides digital asset custody services for several banks and...
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HSBC Malta711

INTERSHORES I FIAU fines HSBC €82,000 for anti-money laundering breaches

The Financial Intelligence Unit (FIAU), Malta's anti-money laundering unit, found the bank failed to adequately document the reason behind a €2 million transaction by one of its customers. In an notice, the FIAU said that although the bank provided it with more detailed information about the business operations of the customer in question, HSBC did not back this up with invoices or any other supporting documentation for the transaction. The FIAU also said that in another breach, HSBC’s transaction monitoring system failed to flag various high-value transactions by one customer, which at times reached €800,000. HSBC told the FIAU that although the rule in place at...
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ICBC

INTERSHORES|ICBC Macau For Your China Business

Industrial and Commercial Bank of China (Macau) Limited has 20 branches and a network of 405 ATM across Macau. The bank specializes in corporate and China business as well as personal account for non-resident with provision of the following services: 1. Loan & Financing. ICBC is committed to support their corporate customers by offering various types of tailor-made financing plan, including short, medium and long term Asset-based finance, Unsecured finance, Revolving Overdraft facility, Working Capital finance, Project Finance, M&A financing. It also specialized loan arrangement in loan including corporate loan, revolving loan, banking syndicated loan (including arranging,...
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OCBC

INTERSHORES | No Physical Presence To Open Bank Account At OCBC Wing Hang, Hong Kong

OCBC Wing Hang ("OCBC WH") in Hong Kong, together with its subsidiaries and affiliated companies, offers a comprehensive range of commercial banking products and services and other financial services such as consumer financing, share brokerage and insurance, among others. It has a network of over 60 branches and offices in Hong Kong, Macau and Mainland China. Founded in Guangzhou as a money changing business in 1937, the former Wing Hang Bank was incorporated and granted a banking licence in Hong Kong in 1960. OCBC WH, by acquisition on 15 October 2014, became a wholly-owned subsidiary of OCBC Bank, the longest established Singapore bank with an international presence of more than 430...
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INTERSHORES | CBiBank's Graphical Flow In Trading and ECommerce

As an offshore bank located in Puerto Rico, USA, CBiBank provides global payment & collection services. CBiBank’s offshore account has the following advantages: 1. Flexible fund transfer: the offshore account is a good vehicle for countries with foreign exchange control. 2. Tax optimization: offshore operation, funds enter into jurisdiction as and when needed. 3. Information protection : CBiBank has its account protection system that keeps your account far from getting frozen. Global collection and payment: 1. Standard payment collection path: CBiBank’s banking system follows US investment bank standard. It supports full business transactions from investment...
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CBI

INTERSHORES l Take Advantages of CBiBank's Services

CBiBank is a licensed International Financial Entity at Puerto Rico, US, aiming to bring more convenient and safer new financial services so as to help SME business owners to get better financial products and to do better businesses. It is an institutional member of the ABA, SWIFT, UNIONPAY, Cross-border RMB Clearing (CIPS) and many other organizations. Its Swift code is CBLBPRSJ and ABA 021508125. It provides digital banking solutions for more than 100 nationalities and various jurisdictions to easily open online corporate accounts. The advantages of CBiBank include: 1. Easy and Fast – 100% online banking opening procedure within 14 business days (can be faster if top...
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CBI

INTERSHORES l Partnership With CB International Bank LLC (CBiBank)

Intershores is proud to announce a new partnership with CB International Bank LLC (CBiBank). Established in June 2017, CBiBank is an international financial entity headquartered in Puerto Rico, United States and is committed to provide digital banking solutions to more than 100 nationalities and companies at different jurisdictions. CBiBank is an institutional member of SWIFT, UNIONPAY, Cross-border RMB Clearing (CIPS), ABA,etc. The partnership will leverage Intershores’s global professional banking service which enables our customers to grow their businesses internationally. Want to connect with us in relation to CBI Bank's service or ask us for CBI brochure: ...
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bank acocunt

INTERSHORES I Consideration For Choice Of Foreign Bank To Open An Account

Where to obtain a foreign bank account (for corporate or personal use) is a common question asked by international entrepreneur as he/she always wants to diversify risk aside ease of account opening. Consideration for choice of offshore bank is usually as follows: 1. The economic situation in the country where the bank is licensed. 2. Accessibility of the bank. For different clients and purposes for opening an account, the location of the bank's office can sometimes be important. However, digital support via zoom, skype or the bank's portal (online banking and mobile apps) can serve the very same purpose. 3. Reliability of the bank. Annual bank reports certified by...
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dormant acc

INTERSHOERS I HKMA Guideline - Dormant Account And Unclaimed Deposits

The Hong Kong Monetary Authority (HKMA) has issued a circular to authorised institutions (AIs) on 18 November 2021 as a guideline to AIs’ handling of dormant accounts and unclaimed deposits. Based on their business and operational needs, AIs are expected to take a risk-based and proportionate approach in handling dormant accounts by taking the quantitative thresholds such as length of dormancy (say 10 years or more), age of the account holder (say 90 years or more), the amount left unclaimed (say HK$10,000 or more). In this respect, the HKMA expects AIs to adopt the following measures to enhance the handling of dormant accounts so as to protect the interests of the owners or...
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bank acc 3

INTERSHORES I Account Opening Requirements Update

The Senior Manager at Business Banking Segment Management team in Bank of China (Hong Kong) and the Associate Partner of Entity Compliance & Governance of Law at Ernst & Young spoke about bank account opening requirements, practice and challenges nowadays at The Hong Kong Chartered Corporate Governance Institute on 15 March 2022. Bank Account Opening Challenges Nowadays 1. Banks in general do not welcome paper presence. Thus, it is crucial to provide the bank with sufficient documentation to validate the business presence in Hong Kong. 2. Company carrying out business in industries regarded as high risk by banks may make it difficult to open a bank account (e.g., virtual...
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