$tack

$tack of papers - photocopies and originals total about 30 pages just to open a stupid company bank account here. ICBC. Yes, I started with my Shanghai account at 9am. By 2pm, we didn't get finished and I was out RMB 1,500. RMB 200 just by sitting in the bank's office to fill out a booklet of forms for account openings. Same information filling out in duplicates and triplicates for each service such as bank account, SMS messages, online banking viewing, online banking transaction, etc... If we didn't have the GuangXi (relationship), it would have taken longer my accountant proclaimed. She was the real Shanghainese too. The yellow shirt was her sitting and writing to that booklet.

We have 3 chops (stamps) for the company - one for company on documents, one for the company accountant for banking and then one for me as I am the legal person for the company. Complex.....

Then the company needs a capital account to receive capital fund. Another set of photocopies and originals.... That was when a little problem developed. See the certificate in the picture. There are two of the same. Both looked the same except a little two-character words said "copy". Because of that, I could not have my capital account opened.

By that time, I already paid all sorts of fees related to the account opening. A stack of receipts. So my accountant had to come back another day.

Wait, here got "funnier". I need to provide the original paid receipts to show that I have paid the account opening. But it was in the system. Too bad. Still want to see those receipts again for the capital account opening. And I was suppose to be there in person to "overseeing" the entire capital account opening process. Good thing of the Guangxi. My personal appearance was waived.

You think it is done now? Not quite. The bank will do a visual verification of the physical address of the company's registered office. Yes, to make sure that the company is real. That did make sense with all sorts of scams and all. Plus this is C hi N@ everything goes. The bank being an extension of the company must make sure.

After the visual verification, I need to do one final step. That is, I NEED TO OPEN A PERSONAL BANK ACCOUNT WITH THE SAME BANK! The bank's reasoning was because it does not know me, so I must need an account to substantiate my existent. The bank hence be able to chase me down in case there is a criminal problem w/ the company. Right.... As if it cannot make a phone call to the police and then Immigration. Within 5 seconds, everything about me is pull up. ICBC the largest depositors in the world. Well, yes by its rules the number is artificially made up.

This coming Monday hopefully the account is all set. Step 2 begins..... And yes, I still have hair. Have not pull them out because of the idiosyncrasy. When one is here, roll with the punches. Otherwise, it just gets to you.....