Account Types
UOB supports a range of account types, catering to clients’ varied requirements, across sole proprietorships, joint ventures, locally incorporated entities or foreign-invested enterprises.
Depending on the account type, we support the following currency accounts: CNY, USD, SGD, HKD, EUR, JPY, AUD, CAD, NZD, CHF, GBP and IDR.
Bank Accounts for Resident Entities
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Account type
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Details
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CNY
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FCY
| Account type | Details | CNY | FCY |
| CNY Basic Accounts | The CNY Basic Account can be used for all daily operating activities, including payroll, tax payments, utilities, as well as vendor payments. Additionally, physical cash deposit and withdrawal activities over bank branch counters can only be transacted through a Basic Account. |
Y | |
| CNY General Accounts | CNY General Account is generally used to facilitate daily operations, including both payments and collections. |
Y | |
| FCY Settlement Accounts | The FCY Settlement Account facilitates foreign currency collections and payments specifically for current items (i.e., trade-related and non-trade or service-related) and certain approved capital items. |
Y | |
| Capital Accounts | This is a special CNY or FCY deposit account that a foreign invested enterprise (FIE) would need to open to facilitate foreign capital injection or the receipt of capital funds from foreign investor(s). Clients need to complete their foreign direct investment (FDI) registration in their city of incorporation and may select a bank nationwide to open the Capital Account. |
Y | Y |
| Foreign Debt Account | The Foreign Debt Account is required for the purpose of receiving and monitoring the usage of loan disbursements from overseas lender(s). Foreign debt registration with the State Administration of Foreign Exchange (SAFE) must be completed before account opening. |
Y |
| Account type |
| CNY Basic Accounts |
| CNY General Accounts |
| FCY Settlement Accounts |
| Capital Accounts |
| Foreign Debt Account |
Bank Accounts for Non-Resident Enterprises
A Non-Resident Account (NRA) is an onshore settlement account for non-resident enterprises or institutions. UOBC can support both FCY and CNY NRAs. The remittance or funds transfer between an NRA and resident bank accounts should be treated as a cross-border transaction and follows the required regulatory reporting.
NRA types include CNY Basic NRA, CNY General NRA, and FCY Settlement NRA.
Free Trade Zone Account Types
UOBC can support the following FTZ account types:
- Free Trade Enterprise (FTE): An FTZ account opened to support clients registered in a Free Trade Zone
- Free Trade Non-Resident (FTN): An FTZ account opened to support non-resident clients incorporated in overseas markets (including Hong Kong, Macao and Taiwan)
- Free Trade Accounting Unit (FTU): An FTZ account opened to support both resident and non-resident financial institutions registered in either a Free Trade Zone or overseas
