Liaoshen bank
For foreign enterprises, notably those embryonic in China, it can be challenging to locate a bank that is disposed to furnish them with a comprehensive array of amenities owing to the stringent statutes that typify the Chinese fiscal marketplace. One feasible recourse to inaugurate an account in China in 2024 is Liaoshen bank.
Liaoshen bank was formally established on June 7, 2021 in Shenyang City, Liaoning Province. Commencing an account with Liaoshen bank is crucial for enterprises operating at the provincial level. This financial institution plays a notable role in the provincial economy by fostering the advancement of the business milieu and backing economic expansion endeavors.
Account in Liaoshen institution (China) will grant access to a diverse array of pecuniary services, encompassing lending, investment, and asset stewardship, targeting both corporate and private patrons. In its endeavors, the institution emphasizes pioneering fiscal resolutions tailored to contemporary market exigencies.
This article delineates the methodology for inaugurating an account in the Chinese bank Liaoshen, roster of requisite documents, services tendered by the bank for corporate and private patrons.
Open an account with Liaoshen bank: about bank services
In view of the burgeoning economic significance of Liaoning Province, the establishment of Liaoshen bank constituted a pivotal measure towards fortifying the financial infrastructure of the region and augmenting its investment allure. Evolving dynamically, the bank has garnered the confidence of clientele owing to lofty benchmarks of service and dependability.
Opening a corporate depository with Liaoshen bank affords access to exhaustive resolutions - from pecuniary administration to corporate finance. The primary concentration lies in the digitalization of amenities, furnishing patrons with efficacious and expedient oversight of their pecuniary reserves.
You can issue a demand deposit - a financial instrument that allows the investor to place funds on account in Liaoshen bank with the possibility of withdrawing funds at any time upon request. This type of deposit provides flexibility in financial management, allowing the depositor to manage his funds without time limits and with minimal or no penalties for early withdrawal.
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Other offers for Liaoshen bank deposit accounts for corporate clients |
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Conditions |
Amount and term |
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Term deposit in RMB |
Investing in this financial instrument allows investors to receive a constant income from placing funds in Chinese currency for a certain period. |
The minimum deposit amount is 10,000 yuan. The deposit period is 3, 6 months, or 1, 2, 3 years, 5 years. |
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Deposit on demand in RMB |
There is no specific period set for this deposit, but the depositor is obliged to notify the bank of his intention to withdraw the deposit and agree on the terms and amount of withdrawal. |
The minimum deposit amount is 500,000 yuan. The minimum withdrawal amount is 100,000 yuan. The deposit period is one day or 7 days. |
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Deposit according to agreement in RMB |
The client signs an agreement with the bank, opens deposit account in Liaoshen bank (China) and agrees to the terms of the current account. |
The minimum deposit amount under a unit agreement in yuan is from 100,000 yuan. |
Can open an account for a company in Liaoshen bank (China) and draw up an agreement on the provision of credit services. The bank specializes in providing various forms of credit services, including loans for working capital, loans secured by fixed assets, for real estate development, pre-project loans, mortgage loans for commercial real estate, trust and syndicated loans. In addition, the bank offers loans to small and micro enterprises, special corporate loans (explained in more detail below in the text).
Liaoshen Bank provides a wide range services for international business, including corporate spot foreign exchange settlements and sales. The bank specializes in cross-border payments in RMB, providing convenience and efficiency for transactions in Chinese currency. The Bank offers comprehensive international trade finance (import and export trade finance), supporting businesses in their global operations.
The international letter of credit (import and export) service provided by the bank provides safe and reliable conditions for conducting international transactions. Besides, opening a business account with Liaoshen Bank offers extensive options for currency transfers, providing clients with flexibility and efficiency in carrying out financial transactions around the world.
Corporate accounts at Liaoshen Bank: credit services
Liaoshen Bank provides companies with not only the opportunity open accounts, adapted to different types of activities, taking into account their specific requirements, but also take advantage of lending services, including corporate lines of credit and trade financial services.
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Who can apply? |
For what needs? |
Amount and repayment period |
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Special loan for high-tech enterprises |
High-tech enterprises, "specialized new" enterprises, unicorn enterprises |
Meeting the needs of daily capital turnover, technological research and development, technological transformation, acquisition of fixed assets, etc. |
The maximum credit limit for one enterprise is 50 million yuan (inclusive). The repayment period for short-term working capital loans is 1 year (inclusive), and medium-term loans cannot exceed 3 years (inclusive). Loans for the purchase of fixed assets should not exceed 5 years (inclusive). |
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Special loan for companies planning to list |
Companies that will be included in the list of reserve companies of Liaoning Province, as well as companies in the province that have implemented listing plans. |
To maintain daily business turnover, construction and purchase of fixed assets. |
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Loan for central regional cooperation projects |
To maintain daily business turnover or investments in new construction, expansion, reconstruction, development and purchase of fixed assets. |
The size of the credit limit is determined by the ratio of the total investment in the project to the equity capital. The repayment period for short-term working capital loans is 1 year (inclusive), medium-term loans cannot exceed 3 years (inclusive). |
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Loan for the construction and operation of industrial parks in Liaoning and Shenyang |
Enterprises approved and registered by the Market Supervision and Administration Department. |
Investments in the construction of industrial parks (national, regional and municipal business bases, high-tech parks, economic development zones, scientific, technical, cultural and creative zones). |
The maximum credit limit for one enterprise is 500 million yuan (inclusive). The loan repayment period cannot exceed 10 years (inclusive). |
Opening an account in the Chinese bank Liaoshen: services for private entrepreneurs
Liaoshen Bank offers individual customers and private business owners scrutiny and hoarding accounts, furnishes competitive interest tariffs and adaptable terms for deposits, grants approach to contemporary online amenities for fiscal administration, which streamlines the handling of personal finances more expedient and effective for patrons.
Demand deposits in RMB are a convenient and reliable way to store funds with minimal risks, allowing clients to use their finances at any time. The minimum deposit and withdrawal amount is RMB 50,000.
Savings account in RMB no restrictions on the deposit period. Customers can deposit and withdraw funds at their discretion at any time using a certificate of deposit. The minimum deposit amount is 1 yuan, and there is no limit on the number of deposits.
Individual time savings deposits in RMBx start from a minimum amount of 50 yuan and can be placed for 3, 6 months, one, two, three years or five years. Funds are deposited in one payment and can be withdrawn along with interest at maturity if you have a certificate of deposit.
Fixed savings deposit in RMB. The deposit period is agreed upon when opening the account. The minimum amount is 5000 yuan. Deposit terms: one year, three years or five years.
Registering an account with Liaoshen bank provides access to personal business loans for individual entrepreneurs or small business owners for various business needs, for example, purchasing or updating business equipment, paying rent for commercial premises, etc.
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Personal business loans |
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Agricultural aid loan |
Loans to wholesalers |
Industrial park loan |
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For whom: |
For farmers engaged in permanent specialized agricultural production in Liaoning, the bank offers special agricultural loans. |
For small and micro business owners involved in wholesale trade. Loans can be used to increase working capital and purchase commercial properties controlled by the borrower. Loans are also available for equipment upgrades, commercial lease payments, office building renovations, and other legitimate business and industrial needs. |
For individual entrepreneurs and owners of small and micro businesses operating in industrial parks as borrowers. Loans are used for working capital of business enterprises in which they manage, participate in, or effectively control, to finance legal manufacturing and business operations. |
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Conditions: |
To receive a loan, the borrower's age must be from 20 to 60 years, and the borrower must have experience in agriculture. The loan amount is set based on the borrower's actual capital needs and financial ability. It is necessary to comply with the limit on the amount of one loan - up to 3 million yuan. |
To receive a loan, the borrower must be between 18 and 60 years old, the borrower must be a shareholder of an operating company (including indirect), representative, director, etc. The loan amount is set based on the borrower's actual capital needs and financial ability. It is necessary to comply with the limit on the amount of one loan - up to 10 million yuan. |
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Maturity: |
No more than 3 years. |
No more than 10 years. |
No more than 5 years. |
Private clients can open a UnionPay debit card. It provides options for depositing and withdrawing cash, making transfer payments, managing expenses, investments and finances. The card can be issued to individuals in China, including Chinese citizens, foreigners residing in the country, as well as residents of Hong Kong, Macau and Taiwan.
Liaoshen bank account opening process
To open accounts in Liaoshen Bank (China), you need to complete several steps, including collecting a complete package of documents depending on the type of account. Basic Instructions for opening an account in the Chinese bank Liaoshen:
Liaoshen Bankoffers different types of corporate accounts, including settlement, savings and specialized deposit accounts. Each of these account types has unique features designed to support the financial needs of different businesses.
Regarding the mandatory documentation that must be submitted to Liaoshen bank for opening an account:
- Completed and signed account opening application form.
- Identification documents of the owners, directors of the company + documents confirming their place of residence.
- Constituent documents of the company.
- Registration certificate.
- Documents confirming the authority of the persons opening the account.
- Bank statements for a certain period (usually the last 3-6 months).
Regarding the application for opening an account for a company in Liaoshen bank, then it can be submitted either in person by visiting a bank branch, or through the online platform. By the way, the bank offers innovative online and mobile platforms for account management.
Liaoshen Bank Corporate Online Banking is a powerful and innovative tool for managing company finances. Users can manage accounts, make payments, conduct foreign exchange transactions and monitor cash flows in real time. Liaoshen Bank provides opportunities for integration with accounting systems and ERP platforms, which simplifies the automation of financial processes.
After submitting an application for opening an account, the bank will begin the verification process. This process includes several stages. In particular, the bank checks the accuracy and completeness of the documents provided, assesses the financial condition of the applicant, and checks for compliance with regulatory requirements.
During the verification process, the bank may request additional documents or information if it considers it necessary. Requests may include clarification of sources of income, information about business activities, etc. After completion of all stages, a decision is made on the possibility opening a business account at Liaoshen bank. If the decision is positive, the applicant is notified that the account has been opened and he is provided with all the necessary documents and tools to manage the account.
Conclusion
Liaoshen Bank, based in China, offers a range of services designed for both established corporations and start-ups. The Bank is committed to providing comprehensive financial solutions tailored to the unique needs of corporate clients, enhancing their financial performance and supporting their growth goals.
Business consultants YB Case can provide accompaniment in opening accounts in China at all stages of the process, starting with registration statements, in this case on opening accounts V Liaoshen bank, and ending consulting support after opening an account.
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