T account is not completely free. It is subject

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In addition, it can pay less tax if it is opened in areas with lower taxes. .Tt account refers to a non-resident free trade account launched in the Shanghai Pilot Free Trade Zone (hereinafter referred to as Shanghai Free Trade Zone). The function of T account is mainly to manage the financial transactions and settlement funds of foreign institutions in the Shanghai Free Trade Zone. That is to say, the account opening entity of T account must be a foreign institution and can only be opened in financial institutions in the Shanghai Free Trade Zone.



In addition, it should be emphasized that compared with israel phone number format accounts, control. In addition, although T account is a convertible account that combines local currency and foreign currency, it does not support all currencies. The currencies currently supported are generally US dollars, euros, British pounds, Hong Kong dollars, Swiss francs, Singapore dollars, Danish kroner, Japanese yen, Canadian dollars, Australian dollars, etc. . Account-tt is a domestic foreign exchange account opened by domestic banks for foreign institutions. It is mainly used for payment and collection between foreign entities.



Its nature is a domestic account.One thing to note is that the nature of the funds in the account is regarded as the flow between foreign countries and China, and it needs to be managed as a cross-border transaction, so it is subject to foreign exchange control. The main difference between a . account and a T account is that the scope of a T account is mainly for foreign institutions in the free trade zone, while a . account does not have this restriction. In addition, the use of the account is more inclined to foreign institutions to provide financial services in China, but T accounts are more inclined to cross-border flows of funds and have better policies in connecting with overseas accounts.