We would like to offer you the opportunity of opening corporate accounts for working pro-actively in the large Asian markets. Thanks to having these accounts you will be able to easily receive money by bank transfers from your local customers in their usual currencies, and then withdraw these funds to your accounts within the country and abroad. Here we speak about China, Malaysia, Indonesia, Thailand and Vietnam.
Our solution works well for risky business activities.
Business in Asia: Not Just Factories, but E-Commerce As Well
What first comes to mind when it comes to Asian markets? A huge number of people and cheap labor. Although the second point is no longer as certain, Asia is still the most powerful manufacturing sector.
Almost every large-scale production was moved here. If not, then at least part of the capacity was relocated for sure.
However, it is not just the factories and other hardware that are of interest to foreign investors. In recent years, the region has been rapidly developing in other areas. For example:
- China: a huge market where having a reliable way of making payments is the key to success in any business;
- Thailand: a huge market for gaming and forex;
- Vietnam: a growing market in gaming and forex;
- Malaysia is not lagging behind and is also growing in the areas of gaming and forex;
- Indonesia: a market of 250 million people and one of the most densely populated countries in Asia offering huge opportunities for development and earnings. Of course, payments should work here like a Swiss watch, and the Swiss account may not be as effective in this region.
When it comes to working with clients, it is extremely important that payments get processed quickly and without errors. Opening an account in China and the neighboring countries can be difficult. The classic way when a business opens an account in Singapore or Hong Kong is also not as easy today as it used to be.
However, we have a solution that will allow you to open a corporate account with a special payment system that is purposefully focused on the Asian markets, but at the same time it belongs to the European owners. As a result, you get a quality service, speed and the opportunity to earn, even being at a great distance from China, Malaysia and other countries.
Moreover, you will be able to run certain risky kinds of business: FOREX, cryptocurrencies, gambling.
Discuss the details with an expert
Check the list of required documents, and get the details of the process, terms, and costs.
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What Countries Does Our Offer Work For?
Our solution helps to enter the markets of the following countries:
- China (CNY/RMB);
- Malaysia (MYR);
- Thailand (THB);
- Vietnam (VND);
- Indonesia (IDR).
You will be able to accept payments in local currencies from various bank accounts, and transfer these funds to your local and foreign accounts. You will also be able transfer money to these accounts from abroad. For example, from your European company’s account.
Restrictions On Using Corporate Accounts
There are minimum withdrawal thresholds. These thresholds are lower inside the country. For example, in Malaysia it is 2 MYR, and in Vietnam is it 10,000 VND. In both cases it is less than USD 0.5.
In order to be withdrawn abroad, the amount must exceed the threshold value of EUR 15,000.
Withdrawal is carried out 3 days after the application.
You will need to make an insurance deposit the size of which is subject to agreement.
Opening of your account will require one week provided that you submitted a full set of documents.
Documents for Opening a Corporate Account for Crediting and Withdrawing Funds to and from Asian Countries
In order to successfully open a corporate account for accepting bank transfers, you will need the following documents:
- Corporate documents of your company (Memorandum, Articles of Association, etc.);
- Notarized passport copies of the company’s beneficiaries and directors;
- Proof of residence addresses of the company’s beneficiaries and directors;
- Business description.
Other documents may also be required.
The Cost of Opening a Corporate Account for Crediting and Withdrawing Funds in Asia
The cost of the account opening service starts from 2999 EUR.
Monthly maintenance fee is 100 EUR.
Return processing fee is 10 EUR.
Account crediting fee is 5.2%.
Withdrawal fee is 3.2% for local accounts and 2%+FX Rate for foreign payments.
Transfers inside China are cheaper.
Procedure: How Do I Open a Corporate Account for Crediting and Withdrawing Funds in China, Indonesia, Thailand, Vietnam, Malaysia?
- Please feel free to contact us by email to info@qwealthreport.com and let us know if you would like to open an account remotely.
- Give your consultant information about yourself and your business.
- After that you will need to pay for this service, the cost is 2999 EUR.
- Please provide a complete set of documents.
- After receiving your payment and documents we will start opening your account.
- You will be able to easily accept bank transfers within 5 countries, transfer your funds from other countries and to other countries, and do it as reliably and quickly as possible.
Find out more at info@qwealthreport.com.
