Forms & Terms and Conditions

Products and Services Forms & Terms and Conditions

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Business Account Opening
Forms Remark
Forms Booklet For First Account Opening Unified account application forms, for new customer to open the first account in our Bank
*Editable PDF smart form - download and open with Adobe Reader Version 11 and above
Business Account Application Form Business account opening form
*Editable PDF smart form - download and open with Adobe Reader Version 11 and above
Authorised Signatories Form Authorised signatories form for account opening
*Editable PDF smart form - download and open with Adobe Reader Version 11 and above
VAT Information Collection Form VAT information form
Authorised Contact Persons(Amendment) Request Form for amendment of company authorised persons
Account Currency Maintenance Form Multiple-currency feature is available for all foreign currency account
Terms and Conditions Business Account Terms and Conditions
Internet Banking
OCBC Velocity forms Remarks
OCBC Velocity Application Form *Editable PDF smart form - download and open with Adobe Reader Version 11 and above
Only for first application. View sample
OCBC Velocity Maintenance Form *Editable PDF smart form - download and open with Adobe Reader Version 11 and above
Change of service package, manage account, add/delete user, etc. View sample
Appendix for Premium Package(Form-3b) *Editable PDF smart form - download and open with Adobe Reader Version 11 and above
Required if "Premium" package selected in applicaiton form. View sample
Single Sign On Application Form For MNC customer to apply Single Sign On service. View sample    View T&C
Remittance
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Letter of authority and indemnity in respect of telefax instructions Two copies required. The authoerised person must be present with his/her identity document at the bank counter.
Application for funds transfer(Domestic) Smart form for domestic foreign currency transfer.
Form instructions
User guide
Application for funds transfer(Overseas) Smart form for overseas transfer, including cross-border RMB payment.
Form instructions
User guide
Applicaiton for RMB Payment Smart form for local RMB Payment
*Download and open with Adobe Reader Version 11 and above
Foreign Account Tax Compliance Act (FATCA) - related
Under FATCA status, if your business Download and complete Remark
i. is a US Person(*1) US IRS Form W9 Instructions for Form W-9
ii. is a Passive NFFE(*2) with Substantial U.S. Owners(*3) US IRS Form W8-BEN-E Instructions for Form W8-BEN-E
iii. is an Active NFFE(*4) or a Passive NFFE without Substantial U.S. Owners FATCA Certification Form for Businesses
iv. does not belong to any of the above (i) to (iii), including but not limited to:
  • Financial Institution
  • Sole-proprietorships owned by individuals
Please contact the relationship manager

Background

FATCA was enacted in 2010 by US Congress and became effective on 1 July 2014. FATCA targets tax non-compliance by US taxpayers with foreign accounts,preventing US persons from using non-US financial organisations and foreign entities to avoid US taxation on their income and assets. On June 26, 2014, the US and China have reached agreements in substance to execute a Model1 IGA in relation to implementation of the FATCA in the PRC. In order to establish your tax status under FATCA, we would require you to complete and submit the relevant Certification Form/s to us.

The FATCA status must be updated within 30 days after FATCA related information changed.

Please note that our bank is unable to provide any tax advice. In case of uncertainty over your FATCA status, please consult professional tax advice, or refer to the IRS website for more information.

What are the "US Person", "Passive NFFE", "Substantial U.S. Owner" and "Active NFFE"?

  1. US Person

    Incorporated, established, constituted or organised in the United States (US) or are subject to US Tax Laws. United States of America: including all 50 States of U.S. and the District of Columbia, U.S. Federal Territory (means the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, or the U.S.Virgin Islands, etc).

  2. Passive NFFE(Non-Financial Foreign Entity)

    The Entity has more than 50 percent of the entity’s gross income for the preceding calendar year is passive income,and more than 50 percent of the assets held by the entity are assets that produce or are held for the production of passive .

  3. Substantial U.S. Owner

    With regard to a company, means any U.S. individual or U.S. entity who directly or indirectly exercises control more than 25% ownership or right to vote of an entity. In the case of a partnership, means any U.S. individual or U.S. entity who directly or indirectly holds more than 25% profit of equity or equity capital of a partnership. In the case of a trust, means any U.S. individual or U.S. entity who holds ownership of a trust, and directly or indirectly holds more than 25% beneficial right of a trust.

  4. Active NFFE

    Means the Entity meets any of the following criteria:

    The Entity has less than 50 percent of the entity’s gross income for the preceding calendar year is passive income,and less than 50 percent of the assets held by the entity are assets that produce or are held for the production of passive .
    The Entity whose stock is regularly traded on an established securities market, or who is a related entity of an listed entity.
    The Entity is created as a holding company for holding the stock of, and providing financing and services to, Non-Financial Institution (s).
    The Entity is not yet operating business, or is in the process of liquidation.
    The Entity engages primarily in financing and hedging transactions with or for related entities within the Group, and all entities in the Group are Non-Financial Institutions.
    The Entity is a non-profit organization. Passive income general includes: dividend and interest income from owning securities, interest from a bank account, rent from property, royalties other than those derived from an active trade or business , net gains from the sale of assets.

Implementation of Automatic Exchange of Financial Account Information in Tax Matters in China

Acted as the member of G20, China is continuing to support on substantial proposals put forward by Organization for Economic Cooperation and Development (OECD) relevant to automatic information exchange. On December 2015, China signed the Multilateral Competent Authorities Agreement (MCAA), which pushes forward the development of automatic exchange of financial account information in tax matters under the framework of Common Reporting Standards (CRS), aiming at combating cross-border tax evasion as well as maintaining integrity of Tax Revenue system.

In order to fulfill the international obligations of financial accounts for exchanging tax information and regulate the due diligence activities of financial institutions on tax information of Non-resident Financial Accounts, the State Administration of Taxation (SAT), the Ministry of Finance, the People's Bank of China and the China Banking Insurance Regulatory Commission (formerly the China Banking Regulatory Commission and the China Insurance Regulatory Commission), and China Securities Regulatory Commission have jointly issued the “Administrative Measures for Due Diligence on Non-residents Financial Account Information in Tax Matters” (hereinafter referred to as the “Measures") On 9th May, 2017.

Under the “Measures”, we are obligated to collect the relevant information required under the “Measures” from account holders and furnish such information to PBOC and SAT for information exchange with overseas tax authorities of relevant jurisdictions. To help us determine your tax residency as required, please kindly fill in the attachment declaration forms and fix company seal as required and send back to the Bank before September 30, 2018.

Download Forms
i. Notification Letter Download
ii. Entity Tax Residency Self-certification Form Download
iii. Controlling Person Tax Residency Self-certification Form Download