UBS

UBS UBS is the world's largest banking assets, it is reputable, some years ago because too absorbed deposits, depositors in the bank deposit interest not only failed, but had to pay a management fee to the bank, which the World Bank is probably unique in the industry . UBS has been considered the world's most trusted banks, about a quarter of the world's personal wealth is stored here, foreign dignitaries, business tycoons and entertainers regarded deposits in Switzerland and feel at ease, it also created a famous Swiss financial industry.

Basic Information

Company Name Swiss banks

Headquarters location Switzerland

Number of employees 49000 (2007)

Founded 1998

Nature Foreign-owned

1 Introduction1.1 Development Background

Switzerland is Europe 's richest country, is also one of the richest countries in the world. In Switzerland there are two things that other countries can not match, one watch, two banks. By the end of 2004, the Swiss per capita financial assets of more than 165,000 euros , onshore financial assets totaled more than 1 trillion euros. Switzerland is also the world's largest offshore financial center, holding 30% of the world's offshore currency, total nearly 2 trillion euros. Switzerland is a truly global bank Kingdom, Switzerland's largest bank industry is the pillar industry. In 2004, the Swiss financial industry created the Swiss GDP 14%, the contribution rate of the national economy banking industry is also a financial powerhouse Germany , France and the United States twice. Swiss banks manage the global International Investment Private Wealth 1/4 to 1/3, so in private banking and wealth management services in the financial sector the two Swiss banks have tremendous market share. Swiss banking industry or labor productivity highest in the industry, output per capita more than 350,000 euros, higher than the Swiss average domestic labor productivity more than 3 times.

1.2 Composition Overview1.3 reasons to grow

Swiss bank industry support is its "big banks." After 1993 and 1997, the two heavyweight "elephant marriage" in 1993, Credit Suisse and National Bank merged in 1997 Union Bank of Switzerland merged with Swiss Bank Corporation, now in Switzerland, "the big banks' remaining two, UBS AG (UBS AG) and Credit Suisse Group (Kredit Suisse Group).

1.4 Achievements

Swiss Bank Group is now Switzerland's largest bank, is also one of the few global financial institutions one. It is no exaggeration to say that the Swiss banking industry position and huge global financial center, is actually mainly by the Swiss banking group to support it. In Switzerland, China, UBS assets and liabilities are close to the entire Swiss banking 40% of assets and liabilities, the number of employees accounted for more than 30% of the total number of bank employees. Internationally, the Swiss banking group is the world's largest private bank , the world's largest foreign exchange trader, the world's largest asset manager in the world, commercial banks and investment banking position in the field of high noon. Many times, the Swiss banking group UBS is a symbol of industry and synonymous.

Since 1997, the Swiss banking group was established, expanding capital and asset performance continues to grow, greatly enhanced global influence, has made remarkable achievements, there are only a certain influence in the euro area by the bank into a global financial market a strong contender. 2005 became the world's number one asset size of the global financial industry leader.

Successful experience in banking group has attracted great attention to analysts, its excellent management techniques and corporate culture to get people's praise, foreign analysts believe that: "If today's Swiss banking group has a weakness, it is that it Too many successful and long. "

1.5 Reasons for Success

Why the Swiss banking group to achieve such success? 2005 Swiss banking group's development strategy put forward to make a good footnote, that: "the same faith, the same team, same goal, same UBS (One belief, One team, One focus, now, One UBS)" .

On the surface, this is just one of the Swiss banking group or brand image advertising strategy, it was decided to abandon the past to spend heavily to get the Warburg and Pratt & Whitney and other brands, which use a unified UBS brand. However, the Swiss banking group to analyze the development of history, we find that the "four projects" Swiss banking group's success.

2 Enterprise Development2.1 Merged

1997 Joint UBS (UBS) and also belongs to the same historic time in Switzerland, "the big banks," the Swiss Bank Corporation (SBC) has been the largest merger in the history of Swiss banks. This is a global banking pile caused a sensation at the time of merger cases, a direct result of the merger is to produce both a long history of tradition, but also a new brand of Swiss banking group (UBS AG). At that time, the new Swiss banking group's total assets reached 1.016 trillion Swiss francs , employs 27,611 people, has 357 branches in more than 50 countries worldwide. UBS merger so became Europe's largest bank and the world's fourth-largest bank, client assets under management reached 1.32 trillion Swiss francs, laying its position as the world's largest private bank and the world's largest asset management organizations.

2.2 Merge reason

Union Bank of Switzerland and Swiss Bank Corporation Why merge? In Switzerland, China, century-old rivals in the history of Union Bank of Switzerland, Credit Suisse Group and National Bank were merged, UBS lost Swiss banking leader's position, the greater the Swiss banking company lost market share, only two banks joint initiative, in order to regain lost dominance; On the international front, the British HSBC 's acquisition of Midland Bank has been completed and the formation of HSBC Holdings, Japan and the merger of Bank of Tokyo Mitsubishi Bank also has ended, the formation of a new Tokyo Mitsubishi Financial Group, Deutsche Bank acquisition of Bankers Trust's near the end, the United States , Citibank , JP Morgan and Bank of America are in full swing talk to other U.S. bank acquisitions, the new round of global banking merger climax coming. The face of competitive pressures within and outside the Union Bank of Switzerland and Swiss Bank Corporation to select the appropriate merger becomes inevitable.

In 1998, after the completion of the merger of two banks, the Swiss banking group's board of directors completed the first reorganization of the business sector, the business sector banks will be divided into private and corporate customer management (UBS Private and Korporate Klients), Asset Management (UBS Asset Management ), private banks (UBS Private Banking), investment banks (UBS Investment Banking) and private property (UBS Private Equity) and other five major departments, to give up the use of UBS SBC brand and unified brand, in a relatively short period of time well spent run-in period.

However, the Swiss banking group untimely case of the United States are high-tech bubble burst, the former Swiss Bank Corporation in the U.S. market, hedge fund investment losses of heavy losses, especially in the United States hold large positions LTCM (Long Telm Kapital Management ) bankruptcy, resulting in the Swiss banking group over one billion U.S. dollars in huge losses. However, UBS Bank Group is a good lesson, and this time it failed to bring significant changes and subsequent huge success in the investment decision-making.

2.3 rectify existing business

In 1999, the Swiss banking group continues to rectify the existing business, advance and retreat in the financial markets. Given the meager profits of the insurance industry and the future is uncertain, it is first suspended and Swiss Reinsurance 10-year cooperation agreement to sell the shares held by Swiss Re and Swiss Re joint venture insurance initiative to withdraw from the course of the insurance industry. In order to avoid overlapping operations generate internal conflicts and loss of efficiency, it also original UBS's international trade finance business to Standard Chartered Bank, and sold a 75% stake already held by Argor Heraeus SA's. In order to exploit the comparative advantage, it increased investment in private banking and asset management business, the acquisition of Bank of America, Europe and Asia's private banking business , and expanded its Warburg (UBS Warburg Dillon Read) trading building, making it Europe's largest stock exchange, also acquired Bermuda famous global asset management company (Global Asset Management), and incorporate it into its private bank. In order to gain a foothold in the U.S. financial markets, the Swiss banking group UBS and SBC in the original New York Stock Exchange, shares were issued in replacement, re-order American Depositary bonds (ADR) issue of UBS AG's stock, and large successful, this will enable UBS AG became the first non-American Financial Group in New York Stock Exchange.

2.4 conduct business restructuring

In 2000, the Swiss banking group to continue to conduct business in two ways to adjust: First, the Swiss local business contraction, expansion of business in the U.S. market, the focus of several business organizations in Switzerland for sale, acquisition of several U.S. companies, and improve our business in the U.S. layout ; Second is to continue to shrink the insurance business, once again the original sale of the shares held by several insurance companies, while increasing investment in electronic networks and related businesses, becoming the first company to offer comprehensive online banking Swiss bank .

2.5 development measures

In 2001, Switzerland's largest banking group action based on the price of $ 12 billion to complete the well-known U.S. investment bank Pratt & Whitney (PaineWebber) acquisition, Pratt & Whitney and reorganized as UBS (UBS PaineWebber). Pratt & Whitney is a veteran of the investment bank in the United States followed by Goldman Sachs, Merrill Lynch , Morgan Stanley and JP Morgan, the U.S. stock market recognized as a trader in the asset management and securities brokerage, etc. even worse reputation. Swiss banking group's move would further expand and consolidate it in the lucrative U.S. position in the field of investment banking. As the prospects for the Swiss banking group, the acquisition was announced the same day, on Pratt & Whitney's stock rose 40%. Of course, the acquisition also gives the Swiss banking group's management brings a major problem, is how to effectively integrate its two Pratt & Whitney UBS Warburg and UBS Investment Bank, in order to reduce the formation of internal contradictions and frictions The internal friction.

2003 and 2004, the Swiss banking group without major acquisitions, its main job is to increase investment in private banking and asset management business of its own comparative advantage, while expanding the agency's foreign exchange and bond trading market share. Risk management mechanisms to improve and third-party distribution infrastructure around its products and services (Bank for Banks) is also two years the management focus. Proved fruitful adjustment this year.

June 2005, UBS announced officially, announced a unified brand for all business strategies, including Pratt & Whitney and UBS Warburg, UBS will be placed under a single brand name. Original four business brand: UBS (UBS Warburg) ( investment banking ), Pratt & Whitney UBS (UBS PaineWebber) (investment banking), Swiss Private Bank (UBS Private Banking) (private banking and asset management business), UBS Global Asset Management (UBS Global Asset Management) (International Business) will be reorganized into with UBS (UBS) named three business: UBS Wealth Management (UBS Wealth Management), UBS Global Asset Management ( UBS Global Asset Management) and UBS Investment Bank (UBS Investment Bank). Swiss banking group in the world launched a report entitled "four identical" corporate image advertising. Warburg and Pratt & Whitney formally renounced the two brands. This decision reflects the company has decided to build a capable rival Citigroup (Citigroup) and HSBC Holdings (HSBC) is a global financial services brands.

2.6 Social ImpactData show that the Swiss banking group 2001-2005 ranked according to asset size has been ranked the world's top 10, ranking in the four years it continued forward, finally got the top spot in 2005 global banking. Swiss banking group with the expansion of other banks have a fundamental difference, the expansion of other banks are basically dependent on bank mergers and acquisitions, while the Swiss banking group action although a merger, but compared with other banks, which rely mainly on the expansion of the business growth. Therefore, its core capital level slower growth, and assets moved up rapidly. Swiss banking group to make its world famous, is its high and stable returns, compared with Citigroup, Bank of America, the annual $ 6 billion in pre-tax profits , 20% of the capital margin and less than 1% Return on assets and perhaps some low, but it is a European bank, in the major European banks, its profits and returns none, only HSBC Holdings and its basic in the same grade. Due to a number of pre-merger non-performing assets impacts, the initial NPL ratio does have some high, after the initial consolidation and disposal of its non-performing loan ratio, has only less than 3% level, reflecting the higher the Swiss banking group NPL digestion and management capabilities .

2.7 Comparison Swiss bankIn addition, a business income of the Swiss banking group with Switzerland the only "big bank" Credit Suisse Group's dynamic comparison. In 1998, when the Swiss banking group formation, UBS and Credit Suisse Group is basically in the same grade, revenues are about 22 billion Swiss francs in 2000, the two banks began to pull away, the Swiss banking group's business income of over 37 billion Swiss francs, while Credit Suisse Group is only 33 billion, has almost four billion Swiss francs. Especially in 2001, the U.S. stock market bubble burst, large-scale investments in U.S. hedge fund Credit Suisse Group suffered huge losses, severe atrophy of business size, business revenue fell to just under 25 billion Swiss francs, while the Swiss banking group from 1998 due Failure to get a lesson in hedge fund investments, the timely withdrawal from hedge funds, and later restricted investment in hedge funds and foam too much electronics, telecommunications, networks, and other industries, basically escaped the U.S. stock market crisis, business income close to 33 billion Swiss francs, more than a whole, Credit Suisse Group more than 100 billion yuan. Although the 2002 and 2003 Swiss banking group's business also some landslides, it is primarily the global economy, especially the last two yearsthe U.S. economy downturn, the rapid decline in business due to the scale of investment banking, to the first quarter of 2005, on an annualized basis, Swiss banking group's revenue reached 38 billion Swiss francs, while Credit Suisse Group, less than 33 billion Swiss francs.

3 Select Market1998 Swiss banking group since its inception, but there is definitely a market share in Switzerland, have a certain influence in the European financial institutions, although customers throughout the world, but the business scope mainly confined to the Swiss domestic and international financial markets, and not much influence and voice. The Swiss domestic market is relatively small, saturation, to seek the Swiss banking group's future development, outward expansion became inevitable. Although the European mainland hundreds of times, there are also considerable business foundation, but the economic doldrums, the concentration of each country's banking sector is quite high, into the outlook is less clear, UBS adopted a "defensive" strategy, which only seeks to consolidate a basic position in Europe . Asia was being hit by the financial crisis, the market is relatively limited and more difficult to enter the Swiss banking group to be placed in a secondary position. U.S. financial market is huge, fewer barriers to entry and high degree of freedom, so do not hesitate to choose the senior Swiss banking group in the United States market. Development in recent years has proved the correctness of this location development strategy, after several years of development, the United States has become an important source of profit for the Swiss banking group, the U.S. market for the Swiss banking group's profit contribution rates are far more than 1 / 2.2004 annual profit from the Americas (more than 95% of its business in the U.S.) market for the first time exceeded the profits from the Swiss native, reached 38.91 percent, according to the current progress of the Swiss banking group in the U.S. market, in 2005 this proportion is certainly more than 40%. Reason to believe that the U.S. market for the profit contribution of the Swiss banking group also growing.

4 business choiceJust enter the U.S. market does not guarantee that a bank can be as successful as the Swiss banking group, another Swiss banking group weights are the advance and retreat of success in business, relaxation proper way.

4.1 Principles of business trade-offsThe basic principles of the Swiss banking group industry offs are: comparative advantage into their own business, have a comparative disadvantage to abandon their own business; into the prospects of the business, give up business uncertainty; into complementary business operations, to give up the business operations overlap ; into the profits are not high but stable business revenue, may give up but certainly high-risk high-yield business; expand the agency business, reducing proprietary business; in the selection of business and personal services, and focus on the development of private businesses.

For any of the bank's senior management, to enter certain business acquisitions or implementing some relatively easy, but to give up some of the early-owned business is very difficult, the Swiss banking group's top management shows a very bold choice in business terms.

4.2 content business trade-offsFirst, the Swiss banking group is the world's first original once owned a large insurance business has taken the initiative to exit the big banks, and in many other banks are still keen to enter the insurance industry and the implementation of the Almighty at the time, the Swiss banking group chose to take the exit.

Second, the Swiss banking group initiative to give a high yield securities and hedge fund investments, almost complete withdrawal of these two areas of investment banking in droves, but also a large number of holdings of shares in excess of the high-tech industry bubble, basically escaped the U.S. stock market crash.

Third, the Swiss banking group with a strong selective acquisitions. In selecting a suitable acquisition target implementation to integrate acquisitions into its business, UBS Group acquired Pratt & Whitney (Paine Webber), its value is a famous American retail broker (Retail Brokerage) a special status. Pratt & Whitney mainly in municipal bond underwriting (Municipal Bond Underwriting) is known, is the industry leader, but, despite this business has a considerable market size, low profit margins, Pratt & Whitney did not have much appeal to other banks, Switzerland The Bank Group's initial acquisition of the majority of analysts are not optimistic, while the Swiss banking group identified Pratt as Pratt & Whitney's business operations with little overlap Warburg, is a highly complementary transaction, acquisition enable it to get a new profit space in the U.S. market. Now analysts say: "The Swiss banking group has a good deal of future prospects, it is not just the Swiss banking group to fill the gap in asset gathering, and overall growth can help by Pratt & Whitney to help banks UBS. Group to establish a recognized degree and attract outstanding professionals. "

Because of the proprietary business a huge risk, but the agency is almost no risk, therefore, the Swiss banking group will be the main agency in recent years. In the proxy forex trading field, the Swiss banking group is now the world's largest foreign exchange dealers, dealing with global trading volume of about 12%, the Swiss banking group is also the largest U.S. stock exchange trader, the data according to Thomson Financial (Thomson Financial) provided accounting ninth global trading volume.

5 teamworkTeamwork is a key factor in business success, no business teamwork efficiency due to reduced internal friction and loss of competitiveness , the key to the success of the Swiss bank, because it created a single corporate culture, it absorbs a lot from different business areas and different talents, singing the same scores are UBS.

Swiss banking group knowledge, who operates the brand, who accumulate wealth. So, from the outset, it focused on a single brand building, 1998 people abandon it as a "gold recruitment" of the SBC brand, and fully establish UBS brand, in 2005, it in turn to give up the two brands Warburg and Pratt & Whitney This will undoubtedly help to integrate the Swiss banking group this huge financial machine.

Implementation of a single brand helping to train a team of UBS, Credit Suisse Group is not the same as an independent kingdom appear in the group, it will not appear professionals in each of its main server generates friction. Swiss banking group's employees in mind only the interests of the company, employees of mutual cooperation, joint development of business, effectively promote the Group's overall growth.

Of course, only a single brand strategy is not implemented all of the Swiss banking group teamwork training. Swiss banking group loyal forces personnel configuration, so that people do their material, in order to play in the proper position.

6 Risk ManagementSwiss banking group's success in recent years, and its strict risk management and control are inseparable, analysts describe the current risk of the Swiss banking group treated "like a white-haired old lady as careful."

Trade-offs in business, the Swiss banking group prefer the low profit margins but stable business income on customer choice, the Swiss banking group focused on expanding high net worth (HNW) clients, that not only focus on customer transaction size, they are also concerned about for the company's profits, so it focused on the development of the private banking business, with less capital rolling a huge asset, but also maintained a high rate of return. Data reflects, in recent years, the Swiss private banking group operating profit of the bank has to keep pace with low-risk investment banking, accounting for 40% of the company's total profits.

Success of the Swiss banking group risk management know-how is a major development and use of hedging products. It appointed a large number of hedge business experts, the development of a group of hedging function of financial derivative products , widely used in a variety of business risks being.

In the minds of financial analysts, the Swiss banking group's risk management is highly concentrated, and extremely conservative. Swiss banking group does not contribute any appetite for risk. Many analysts also said: "UBS is a risk of an outsider." Where there is trouble, it will not be involved, or to hedge their positions do not even create any business relationship.

It is because of the cautious Swiss banking group risk and ensure that it is not even in the global economic boom, the next European banks has generally poor environment and achieved excellent results.

7 corporate philosophySwitzerland does not have underground mines, banks rely initiated after World War II, has Swiss bank deposits accounted for 1/3 of the world's total savings. UBS has been considered the world's most trusted banks, about a quarter of the world's personal wealth is stored here, foreign dignitaries, business tycoons and entertainers regarded deposits in Switzerland and feel at ease, it also created a famous Swiss financial industry position.

7.1 Historical development of banking secrecyHundreds of banks in Switzerland, the permanent neutrality of the country, from UBS AG, Zurich, Credit Suisse First Boston and Credit Suisse thus leading to the Swiss cantons of state banks, and then from the 17th-century private banks, obviously, the so-called "Swiss bank" is not a bank.

From the beginning of the 14th century, private bankers in Geneva and other places and money lenders, they make Switzerland the World Bank 's country industry started earlier. Geneva became the birthplace of UBS, is one of only a few large European trading center at that time. However, prompting UBS real birth and development after the Reformation in France, Italy and religious refugees. 17 centuries ago, the state religion of France, although the Catholic Church, but because Henry IV was April 13, 1598 signed the famous "Nantes save order", the French royal family has tolerated Protestant. To Louis XIV, the 1685 repeal of the "Nantes save order", banned Protestant, and Protestants began wantonly arrest. Due to Geneva from France, Italy close, is Protestant, " Rome ", so have a lot of Protestants from France, Italy, fled to Geneva. In these religious refugees, many of which are technical and managerial personnel proficient wealthy bankers and banking, they bring capital and management technology enables Geneva banking has developed by leaps and bounds in the short term, to promote the birth of the bank's . Meanwhile, in order to avoid the disclosure of the financial position of these believers, bankers and gradually establish secrecy.

In 1713, the Geneva Conference established the Banking Act, the provisions of the Bank's responsibility to record customer information, but the ban will disclose customer information to others. 1789, Continental broke rapid social change and revolution, Swiss secrecy laws have become a haven for political and financial reform of political victims. In the 20th century, this system was a decisive challenge, so had to rise to a high degree of institutional secrecy laws throughout the country.

1930, after the Nazis came to power, the persecution of Jews intensified, resulting in the German capital have fled outside, it is one of the major Swiss banks whereabouts. To this end, in 1933, the German Nazi government promulgated a series of laws requiring all German citizens to own assets in a foreign account, and if found false or refuse to be accountable, they will be hanged.

In Switzerland, a German citizen is responsible for tracing out the property Gestapo often disguised as ordinary customers out of money after entering the bank, the bank staff told, the money deposited in certain accounts, and these accounts are being masters of Nazi skeptics. If you can deposit, then that person has an account in a Swiss bank. Subsequently, the Gestapo after returning to depositors put pressure their property from Switzerland into Germany. Three people were eventually killed. Three lives, making this only in the banking sector spread eventually became professional code of Swiss law.

Depositors can choose their own way of compromise in Swiss bank account deposits. Depositors are allowed to use a pseudonym, code, or number instead of your real name. Not only can an agent handle account deposits and withdrawals, or when the bank transfers can also be fully in accordance with the agreed statutes apply, the real owner of the property may never show up. However, a critical change in 1987. Since then, the anonymous account disappeared. Even in sensitive customers, Swiss banks also require staff "know your customer", which must confirm the "legitimacy" of each customer's identity and economic - the beginning of this period, the worldwide Ned Marcos of the Philippines, Romania After , Zaire's Mobutu's corrupt rule, such as the overthrow of the dictator, always able to see behind the Swiss banks keep their plunder to the huge amount of property, such messages inspire anger and embarrassment Perhaps it is this change fuse.

Bank client confidentiality refers to the bank to fulfill all matters relating to an obligation on the customer to keep silent. It is also a power to our customers, because they are the ones who are masters of protecting data and information. Bank secrecy to protect the personal interests of customers. It and other occupational secrecy, such as doctors and lawyers secrecy, it can be compared. Protection of private rights is the foundation of Swiss law, but also the Federal Constitution clearly defined (see section 13 of the Federal Constitution).

7.2 anonymous account creationNo, this is impossible. Bank officers are required to follow the "know your customer" principle, must confirm the legitimacy of the opening of new accounts each customer's identity and their economy. For the control of monetary transactions with criminal sources, banks have set up a strict, internationally recognized identity regulations.

7.3 anonymous account number and account numberIs not. And detective fiction, movie agents and certain media outlets reported the contrary, there is no anonymous accounts in Switzerland. No account customer's name within the scope of the bank's internal staff is rarely open. Bank account numbers and other account customers to use the same bank secrecy.

7.4 global banking secrecy and tax rationalizationNo country should be responsible for their proprietary tax system and reasonable tax burden. Any government should understand that the growing tax burden will undermine the attractiveness of a country and cause overloading as an excuse to tax evasion. Thus, the rationalization of the tax not exist, but - a tax competition trend. Bank secrecy for this goal is not to cause any obstruction.

8 Opening Conditions(A) the individual :

B in Switzerland have held a residence permit (Residence Pelmit B), account opening minimum deposit of CHF 5000, a residence permit is valid within five months. After the account, 500 Swiss francs will be frozen, students like to leave Switzerland still continue to use this account, the account must have at 10 million Swiss francs. Otherwise, you must cancel their accounts, the bank refunded CHF 500 deposit . No matter what country, if you hold a permanent residence permit in Switzerland C, and the Swiss are on the same account conditions.

(B) Company :

1 contacted the bank and make an appointment ahead of time;

2 Opening day of company directors need to bring ID card, valid passport or passport;

(3) the company's domestic business license , (I am a corporate account holders or shareholders) copies (if any);

4 domestic companies purchase, sales invoices and contracts, as a bank reference (if any);

5 company accounts by $ 10,000, money deposited in private accounts of $ 10,000;

6 open integrated accounts, including savings, checking , Currency (10 kinds), online banking accounts and credit accounts, debit cards provide a;

7 There are two banking passwords, passwords to the customer first group, the second group password needs to go to the bank to verify the identity of customers in order to receive;

8 may require the company seal in the process, it is best to take;

9 foreign companies to submit information and Hong Kong companies are the same account, detained registration fee to open an account (the account deduction);

10 credit certificate can show the balance, the balance can not be displayed, but there should be made payable;

11 can be in Shenzhen doing, Shanghai and other places overseas, witness signatures, but to get the bank prior consent before they can do, mainly depends on the strength of the company's accounts and other evidence or credibility. Because these accounts are more complex, the former may ask us to open an account.

12 Swiss banks can open a bank in Shanghai offshore accounts ;

(C) in Hong Kong or offshore Swiss bank account opening conditions :

A company's business registration certificate ( company registration document)

2 Certificate of Incorporation (Hong Kong company, bvi company or other foreign companies)

3. Annual returns, first secretary and director of the notice (company registration documents)

4 Notification of change of secretary and director (company registration documents)

5 as a director consents (company registration documents)

6 Memorandum, registered prospectus and any amendment to the Articles or the relevant Board Charter (company registration documents)

7 issued by the account opening documents (CERTIFIED TRUE KOPY) (Hong Kong accountant or solicitor in Hong Kong)

8 The company owner, attended the Board of Directors authorized signatory identity documentation (passport or identity card) and a copy of proof of address length (customers)

9 companies (Bank provided)

10. Opening Form (Bank provided)

11 Account Authorization (customers or Bank provided)

12. Signature card (bank account)

13. Letter of introduction, interview reports (clients)

14 customers table (customers)

15. Basic Information Sheet (customers)

16 Company Structure (customers)

17 Hong Kong mailing address (after registration HKBSS harbor dredging company will provide business customers)

18. Arrangements Referrals

Also need to provide the following documents when overseas companies account1. Certificate of inkumbency

2. Certificate of good stand

3 business proved (Business pool)

open a Swiss bank account in Hong Kong, the average monthly balance requirement of 100 million dollars

open offshore bank accounts in Switzerland, the average monthly balance requirement of 100 million dollars