Business FAQ

1. What are the requirements to open a business bank account with CCB NZ?

For entities registered in New Zealand we will ask you to provide the following documents:

Identification documents:

• • Primary Photo ID (e.g. a NZ passport or overseas passport);

CCB NZ generally needs to verify the identity of directors, authorised account signatories, shareholders with more than 25% aggregate shareholdings, and individuals who have effective control in the company.

Proof of address:

• • Local bank's statement issued within the last 3 months; or
• • Public utility bill or letter (such as water, electricity, gas, phone, broadband) issued within the last 3 months.

CCB NZ generally needs proof of address for directors, authorised account signatories, shareholders with more than 25% aggregate shareholdings and individuals who have effective control in the company.

The company's shareholding structure diagram::

• • The diagram needs to outline the distribution of equity and capital, but also the identity of the shareholders.

The entity’s IRD number and tax rate:

• • If the entity has been issued an IRD tax number by IRD you should provide it to us.
• • While an IRD number is not needed to open an account, without it the entity will be charged resident
•   withholding default tax rate of 33%, which is the highest rate.
• • If the tax rate applicable to the entity is non-standard, please provide the certificate approved by IRD.

Please note that we may have to request further information from you in accordance with applicable laws.

2. How can I open a business bank account with CCB NZ?

Please get in touch with one of our Relationship Managers who will guide you through the opening process.

3. How long does it take to open a business bank account?

It will take approximately 5 working days to complete the account opening process once all documents required are completed.

4. Can I set up a business bank account in New Zealand for an overseas company?

Yes. Please get in touch with one of our Relationship Managers who will guide you through the account opening process.

5. How can I transfer money from my business bank account in China to my CCB NZ business bank account?

If you have a bank account with CCB NZ, please first confirm if you’re banking with CCB New Zealand Ltd or CCB New Zealand Branch.

If you are banking with CCB New Zealand Ltd (SWIFT Code: PCBCNZ22)

Instruct CCB in China to initiate a cross-border (international) telegraphic transfer through a CCB store in China or internet banking.

Customer Payment Standard Settlement Instruction of CCB New Zealand Ltd

CCB NZ is not currently accepting new applications for home loans.

If you are banking with CCB New Zealand Branch (SWIFT Code: PCBCNZ2A)

Instruct CCB in China to initiate a cross-border (international) Telegraphic Transfer, via a CCB Branch in China or through internet banking.

Customer Payment Standard Settlement Instruction of CCB New Zealand Branch

6. How can I transfer money from a business CCB Bank Account (in China) to another Bank in New Zealand?

1. 1. Contact the beneficiary or beneficiary bank for their cross-border Telegraphic Transfer details.
2. 2. Initiate Cross-Border (internal Telegraphic Transfer) in China directly to the beneficiary Bank and beneficiary, via a CCB Branch in China or through internet banking.

7. How can I transfer NZD funds from other Banks in New Zealand to CCB New Zealand?

If you are banking with CCB New Zealand Ltd (SWIFT Code: PCBCNZ22)

1. 1. Please download CCB’s NZD Payment SSI form and follow the instructions.
2. 2. Initiate the payment transfer via your Bank’s online banking system.
3. 3. Follow the Online NZD Payment SSI instructions and complete your payment online.

If you are banking with CCB New Zealand Branch (SWIFT Code: PCBCNZ2A)

1. 1. Please download CCB’s NZD Payment SSI form and follow the instructions.
2. 2. Initiate the payment transfer via your Bank’s online banking system.
3. 3. Follow the Online NZD Payment SSI instructions and complete your payment online.

8. How can I transfer funds from New Zealand to China or other overseas countries?

• • If you have online banking, please log in to your online banking account and submit the international payment
•   via the system.
• • If you don’t have access to online banking: Please download CCB’s international telegraphic transfer
•   application.
• CCBNZ Ltd, CCBNZ Branch

Complete the application form online before printing (handwritten details may be rejected and may cause reading error or delay). Once you have completed the application form, please sign it. Email your completed form to your CCB NZ Relationship Manager and to operation@nz.ccb.com. Please DO NOT send your request more than once as transactions may be duplicated. For more assistance and details, please contact your Relationship Manager at CCB NZ or our hotline 09 3388200, email: info@nz.ccb.com

9. I have a section I would like to develop, what are your lending conditions?

Please have a chat to our Commercial Banking Team for further information on your development project. They will be able to outline tailored lending conditions. You can reach the team by calling our office on +64 9 3388200.