Verifying your business in China

Verification, known as KYC or ‘Know your customer’, is a process that is required by regulators to offer financial services to organisations and individuals. It involves reviewing and maintaining information on parties that use our financial services.

Below, we have provided details on the documents that are required for organisations to open an account with Airwallex when your business is registered in China.

As a Mainland China Company account, you need to prepare the documents below:

• Business License
• ID of Legal Representative
• ID of UBO (if applicable)
• ID of Authorised Person
• Ownership Structure Chart (if applicable)
• Offline Business supporting documents (if applicable)
• Live Streaming Questionnaire (if applicable)
• Financial Institution Onboarding Questionnaire (if applicable)
• Authorisation Letter Template (if applicable)

Please ensure the image is clear and readable. The file shall not exceed over 10MB, limited to {PDF, Word, JPG, JPEG, PNG, BMP}

1. Business Information

Business License

Sample picture:

Ownership Structure Chart

We need more information to understand your shareholding structure. Please provide an equity or ownership chart.

Note: The following conditions need to be met:

1. It should display ultimate beneficial owners' names
2. The shareholding percentage should be marked for each intermediate shareholding entity (if any) and the ultimate beneficial owners
3. Each shareholding entity's registration country should be marked
4. It should state if there is any issuance of bearer shares in the chain of ownership
5. For companies registered outside of Mainland China, the document should be signed and dated by a director with his/her printed name alongside
6. For Mainland China registered companies, please cap the company's official seal
7. It needs to be dated within 12 months
   
   

Click here to download the example of Ochart

Sample picture:

Offline Business Supporting Documents

If your company is an offline business, you can provide below supporting documents to help us proceed with the Onboarding process:

• Commodity or service contract between you and your customer (must be authentic and within the validity period; Mainland China companies' contract need to be stamped with official seals)
• Invoices between you and your customer
• Commodity or service contract between you and your supplier (must be authentic and within the validity period; Mainland China companies' contracts need to be stamped with official seals)
• Invoices between you and your supplier
• Customs Declaration Form
• Bill of lading

Live Streaming Questionnaire

Click here to download the Live Streaming Questionnaire

Financial Institution Onboarding Questionnaire

If your company is Financial Institution, please follow the guidelines to input the below Questionnaire:

Click here to download the Financial Institution Onboarding Questionnaire

Personal Information

Legal Representative

Legal Representative means an individual of the company authorised with the legal power to represent, enter into binding obligations on behalf of the company in accordance with the law or articles of association of the company in default. For further information please refer to the Airwallex Terms and Conditions.

Ultimate Beneficial Owner (UBO)

The “ultimate beneficial owner” of a legal entity is thus:

–   one who holds over 25% of share capital; or
–   one who exercises over 25% of the voting rights.

Authorised Person

An Authorised Person is authorised to act on behalf of the business.

Authorisation Letter Template

If you are not a director or legal person of the company. Please provide a letter of authorization stating that the individual has the right to act on behalf of the company. 

The letter should be stamped with the company's official seal (for mainland China-registered entities) or signed by a director (for entities registered outside of mainland China).

Click here to download the Authorisation Letter Template

Personal ID

If legal representative, UBO, or authorised person is a Chinese citizen, either Chinese National ID (both front and backside needed) or Passport is acceptable,

Chinese personal ID sample pictures:

If legal representative, UBO, or authorised person is NOT a Chinese citizen, government issued official ID with photo, such as passport, national ID or driver licence (if applicable).

Some valid ID examples are provided below:

Passport - All countries

National ID - e.g. Hong Kong

Driver’s Licence - e.g. Australia