China and Hong Kong account offshore account local accounts, offshore companies after the opening of two common account types. But both have some differences on a number of functions, in particular:
(1) Basic function: Both Functionally speaking, are able to receive foreign exchange, L / C, etc., have accounts in circulation features.
(2) come from cost comparison: Local user fees are lower than the offshore accounts, and there is no minimum deposit requirement to open an account; but the domestic offshore accounts, many banks have minimum deposit requirements, if not to achieve required to pay a monthly account management fee of USD30-40.
(3) long-term advantages: both from the government policy in terms of the long-term nature of local households compared to offshore accounts in Hong Kong has advantages, because Hong Kong itself there is no foreign exchange controls, there is a policy of destabilizing the continent, although the present situation on the offshore accounts Foreign people is also a good choice easy.
(4) ease of operation: from the operation of both terms are more convenient, because the bank has a variety of service systems, such as: telephone banking, fax banking, online banking.
(5) transferred to the personal account: both can be on call money account domestic and foreign individuals or companies.
(6) cash withdrawals way: both to take cash in different ways, Local users can go directly to the bank to withdraw cash, you can also send instructions to the bank, the money hit the individual foreign currency account, you can cash in the local area, without going Hong Kong. Offshore accounts are generally not directly mention now, and Local families also take the same way as indirect cash withdrawal, the money hit the personal account and cash withdrawal through a personal account.
China and Hong Kong account offshore account local accounts, offshore companies after the opening of two common account types. Compared to the mainland offshore account, the account has the additional advantage of Hong Kong: directly in the domestic ATM cash withdrawals, you can write checks, arrival speed.