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Bank acount certification

JanJal (1245 posts) • 0

If you mean a certification that shows you have certain amount of money deposited in the bank, I would only hope your bank to be the only place where it can be gotten.

For some purposes (such as registering a business) you may also need a statement from bank that shows how outstanding customer you have been, but I suspect this is not what you want.

GoK Moderator (5096 posts) • 0

If it is showing deposits of money for visa or other registration purposes, I think the money must be deposited in a specific account at a bank and branch specified by the agency requiting the certificate. This account must then be active for the specified minimum period.

If for a business I believe that you are allowed to draw down against this account for business expenses.

Napoleon (1187 posts) • 0

Is this for Chinese use?

If it's for international use all I have ever done is send a bank statement to the embassy of the country needing it.

If this is for China then I can only go on the policy that came out just before the Olympics and dissappeared shortly after and was used when applying for a Chinese visa at that time.

This involved going to the bank and depositing the amount required in a banking bond. I was issued the bond certificate and used this. After what was needed was complete I returned to the bank, ended the bond and the money was deposited back into my normal account a cetain amount of days later.

This is all very old news and the system may have changed 10 times since then. Either go to the bank - This process will involve a bank regardless - and ask them or ask the organisation who are asking for the certification as to how this is done. All I can tell you is be prepared it may require a banking bond of 30 days or so.

michael2015 (784 posts) • +1

Mike
If your case is BUSINESS related, here's our experience.

When we started our WOFE back in 2006, we were required to provide this bank letter as part of our business registration process. The bank supplied the letter via our accountant.

Our accountant stated the bank certification letter was required to show source of funds - NOT evidence of funds, but the source. It was an anti-money laundering issue. This used to be clearly stated on Beijing's WOFE business site, whatever that was.

This had the added benefit of a paper trail showing inbound foreign investment, so that SAFE (State Admin of Foreign Exchange) would issue us a receipt.

On that note, we also discovered that those SAFE receipts MAY expire after about something like 5-ish years, so if we didn't repat the inbound investment after a certain time period - there was the potential to lose the tax exclusion benefit. Our WOFE was a high-tech - so the info ONLY applies to that kind of business structure, investment, and market segment.

That was our experience - hope that helps put things in perspective.

mike4g_air (788 posts) • 0

Thanks all.

It has to do for a person invited by me from Cuba. the chinese embassy needs my bank account certification to prove i can support this individual.

quite complicated as i need to go to Kunming.

Thanks again.

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