Choosing the right banking partner for your China business - Part 1
The corporate banking system in China can be somehow complicated. Before deciding which local or international institution your company will be banking with, there are a few practical aspects to be considered
that will hopefully make the process easier. The first step, if your company finds itself in the pre-investment stage, is to select a banking partner in China. Before any bank commits to working with your entity, they will have to go through an extremely thorough KYC process (Know Your Client process), which is basically a background check on you as an individual and as a corporate entity. Prior to taking you as a client, the bank will want to know your history, what you're doing in China and who are the beneficiary owners of your structure, among other details. This information is mandatory and necessary to move forward in the banking process.
When choosing a bank, it is relevant to understand your company’s needs, such as a future loan, and the nature of your business in China.
MAKE AN ENQUIRY
Woodburn Accountants & Advisors, together with Elanders Group is offering a series of COMPLIMENTARY webinars on how to trade in China, from protecting your brand to creating a flexible business model to trade in China, all the way to understanding customs and tax procedures to warehousing in China.
We will provide you with information and tips to enrich your China business skills and enhance your market entry efforts to achieve accelerated growth in the Chinese market.
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WEBINAR SERIES: Distribution of goods and services in China
Are you marketing to Chinese consumers? Do you need tips on how to market to the Chinese? Have you registered your brand name? Have you protected your products and services? Are you looking to setup an efficient distribution structure? Are you looking to buy and sell goods in China, but are not sure how to do this?
Woodburn Accountants & Advisors is offering a series of COMPLIMENTARY webinars on all these subjects. We will provide you with information and tools to enrich your China business skills and enhance your market entry efforts to achieve sales success on the Chinese market.
Who is this series for?
The series is aimed at international companies focused on inbound China investments. The companies are either looking to enter the market or already operating in the Chinese market.
Woodburn offers group and corporate training workshops that provide you with information and tools to enrich your China business skills and enhance your market entry efforts to achieve success on the Chinese market. We provide a wide variety of training modules that cover everything you should know about incorporating and operating a company in China. Click to read more