Please call 18101649652/021-58763186-8008 for the difference between NRA account and OSA account.png)
Many customers want to use Hong Kong companies to open bank accounts in Shanghai, so what about NRA accounts or OSA accounts? What is the difference between NRA account and OSA account? Today's editor will give you an answer.
Differences
1. OSA account is for overseas use, and NRA account is for domestic use of foreign currency;
2. Only a few banks can open OSA accounts in China, and NRA accounts can be opened in any bank in China;
3. OSA accounts are not regulated when conducting foreign exchange operations in China, and NRA accounts need to comply with relevant regulations;
4. The relevant institution that supervises the OSA account is the CBRC, and the relevant institution that supervises the account is the SAFE.
Advantages of OSA account
1. The OSA account is equivalent to the account opened overseas by the customer, and the funds in the account can be used and transferred for their own purposes without being restricted by China's domestic foreign exchange
2. The OSA account is not subject to the supervision of domestic deposit interest rates and varieties in China. When using the OSA account to deposit abroad, the interest rate will change according to the type of customers, which is very flexible
3. China will not levy interest tax on OSA accounts, so as to make offshore deposits more profitable
4. The deposit bank of the OSA account has the ability to handle both domestic and overseas businesses in China, so using this account can make the flow of funds faster and more convenient; 5. The OSA account can be operated on the domestic Internet in China.
Previous：Is already the first one！
Next：What are the Telephone and Online Banking Options in Hong Kong?