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Non-Residents of China Require New Due Diligence

Non-Residents of China Require New Due Diligence

According to the Measures, a non-resident or a passive non-financial entity controlled by a non-resident, when opening a financial account, must provide a detailed announcement of the name, current home address, country (region) where it's a tax resident, taxpayer identification number, place and date of birth etc., in order to prove the tax resident's identity (or the identity of the account owner or account controller). 

Tags: 
Economy, Finance and Accounting, Tax, Trade

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