SEVEN WAYS TO PROTECT YOUR ORGANIZATION AGAINST THE CHANGE OF BANK ACCOUNT SCAM

7 March 2020 | Risk, Fraud, Bank account scam

The vast majority of companies located in China are legitimately established, doing business and seeking to develop their business operations in an honest way, compliant with domestic and international laws, regulations and ethical standards. Unfortunately, there are always a few that aren’t. In this article the “change of bank account” scam is discussed and control measures that can be implemented by organizations to protect themselves ... READ MORE


SIX COMMON CHINESE BUSINESS LICENSE SCAMS AND HOW PROTECT YOUR ORGANIZATION AGAINST THEM

5 March 2020 | Risk, Fraud, Business license scam

When performing a background check on a potential customer or supplier located in China, the single most important document to request is a scanned color copy of the business license, with an imprint of the company seal affixed to it. More information on company seals you find ... READ MORE


IDENTIFYING PAPER TIGERS: WHAT SUBSCRIBED CAPITAL LISTED ON THE BUSINESS LICENSE REALLY MEANS

2 March 2020 | Risk, Fraud, Registered capital

Prior to March 2014 China operated a paid-up capital registration system. Absolute minimum capital requirements per type of (Foreign Invested) Enterprise had been defined by law and regulations, but in practice the actual capital requirements to be paid up by investors varied per geographical region and industry in China. Per March 2014, in general the minimum mandatory capital requirements was abolished and the paid-up capital ... READ MORE

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