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简介
我们致力于保护您的个人数据。我们希望确保您充分了解我们如何管理您的个人数据。这意味着我们必须清楚阐述我们如何收集、使用和披露您的个人数据。向我们提供您的个人数据是自愿的。如果您不向我们提供您的个人资料，我们可能无法向您提供我们的产品和服务。
我们制定了数据保护管理计划来保护您的个人数据。这包括:
- 实施强有力的安全措施；
- 进行数据保护影响评估；
- 定期培训我们的员工；
- 确保个人数据的接收者保护个人资料；
- 帮助您行使自己的权利；
- 回答您有关使用您的个人资料的问题；以及
- 帮助您控制来自我们的营销信息。
什么是个人数据？
个人数据是指能识别个人身份的任何有关个人的数据，或与其他信息结合后能识别个人身份的数据。例如您的:
- 姓名；
- 联系信息；以及
- 财务细节。
收集您的个人数据
我们只有在有合法或正当理由的情况下才会收集您的个人数据。以下是一些我们收集您个人数据的例子。当您：
- 使用我们的银行和数据服务；
- 与我们各分行的工作人员交谈；或
- 参加我们的活动。
使用您的个人数据
我们可能会将您的个人数据用于各种目的，例如:
- 确认您的身份；
- 改进我们的产品和服务；
- 就我们的服务或产品与您联系；以及
- 当我们有合法权益时（如侦查和防止欺诈或犯罪）。
披露您的个人资料
我们认真对待您个人资料的披露。我们只与负责人员和组织共享您的个人数据。如有必要，我们可能会将您的个人数据传输到海外。在共享您的个人数据时，我们会确保接收方能够对数据保密。我们可能与之共享您的个人数据的实体包括:
- 华侨银行集团的其他公司；
- 我们的合作伙伴和供应商；以及
- 政府机构。
我们有责任持续保护您的个人数据。我们将不时更新本数据保护政策。我们将通过适当方式通知您本数据保护政策的变更。
更多详情，请参阅以下我们的数据保护政策。如有任何疑问，请联系我们的数据保护办公室：dpo@ocbc.com。
根据您与我们的关系，可能适用以下数据保护政策：
- 零售银行数据保护政策; 以及
- 企业银行数据保护政策。
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数据保护政策
生效日期: 04 June 2024
本文件（"数据保护政策"）旨在告知阁下华侨银行有限公司及其相关公司（统称 "公司"），以及其各自的代表和代理人（"代表"）（公司和代表统称为 "华侨银行"、"我们"、 或 "我们的"）如何收集、使用和披露个人数据。
我们可能会更新或更改本《数据保护政策》，在我们的网站（www.ocbc.com）上公布最新版本的《数据保护政策》。这可确保我们的数据保护政策符合未来发展、行业趋势以及法律或监管变化。我们可能会通过适当的方式（如张贴通知或向您发送通知）通知您我们处理您的个人数据的方式发生了变更。
1. 个人数据在本数据保护政策中“个人数据”是指有关个人的任何数据（无论真实与否），可(a)从该数据中识别个人身份；或(b)从该数据以及我们已掌握或可能掌握的其他信息中识别个人身份。
您向我们提供的个人数据取决于您与我们互动的性质以及您使用的华侨银行产品和服务。个人数据的一些例子包括:1.1. 您的全名；
1.2. 身份证、护照或其他身份证号码；
1.3. 联系详情，如电话号码、邮寄地址、电子邮件地址；
1.4. 您的所在地；
1.5. 客户信息（如存款信息）；
1.6. 账号和交易数据；以及
1.7. 您向我们提供的任何个人相关信息。
2. 个人数据资料的收集我们只会以合法的方式并在有正当理由的情况下收集您的个人数据。提供您的个人数据属自愿行为。但是，如果您不向我们提供您的个人数据，我们可能无法向您提供所需的产品和服务。 我们通过以下方式收集您的个人数据:
2.1 当您提交任何表格时，包括申请表、声明表、建议表或推荐表；
2.2. 当您签订任何协议或当您使用我们的服务时，提供与您与我们的互动和交易有关的其他文件或信息时；
2.3. 当您与我们互动时（包括客户服务人员、客户关系经理和我们的自动化系统，例如，通过电话（可能会被录音）、信件、在线聊天、传真、面对面会谈和电子邮件）；
2.4. 当您在我们的办公场所内或参加我们举办的活动时；
2.5. 当您使用我们的在线平台和其他技术平台（如网站和应用程序）提供的服务时，包括当您在我们这里设置任何在线账户时；
2.6. 当您参与我们的促销和其他营销活动时，要求我们与您联系，或将您列入电子邮件或其他邮件列表时，
2.7. 当您回复我们的营销代表、代理商和其他服务提供商时；
2.8. 当您发送求职申请任何职位、董事、代表或任何其他职位，提供的任何相关的文件或信息（如您的简历）时，或当您参加我们的面试时；
2.9. 当您通过我们的网站和平台与我们互动，或使用我们网站和平台上的服务时；
2.10. 在适用法律允许的情况下，当我们就您与我们的关系（包括银行产品、保险单或求职申请）寻求有关您的信息并接收您的个人数据时（例如，从业务合作伙伴、公共机构、您的前雇主和相关第三方）；
2.11. 当您响应我们的要求提供更多个人数据时；
2.12. 从您已同意的第三方来源（如我们生态系统中的合作伙伴），或为遵守适用的数据保护法而必须收集您的个人数据；
2.13. 当您使用我们的电子银行服务，如华侨银行电话银行服务、华侨银行自动柜员机服务或华侨银行网上银行服务时。欲了解更多信息，请参阅有关商业账户的条款和条件；
2.14 当您使用我们的移动和数码字应用程序（“数据服务 ”）
2.15 当您同意我们从您的移动设备上收集您的个人数据（例如位置信息）时；以及
2.16 当您出于任何其他原因向我们发送您的个人数据时。当您浏览或使用我们的网站和平台时，我们可能会收集您的信息。详情请参见下文“Cookies 和相关技术的使用”部分。
如果您向我们提供任何第三方的个人数据（例如您的客户、配偶、子女、父母和/或员工的信息），您必须声明，在向我们发送此类信息时，您已获得此类第三方的同意，允许您出于相应目的向我们提供其个人数据。
您应确保发送给我们的所有个人数据都是完整、准确、真实和正确的。否则，我们可能无法向您提供您所要求的产品和服务。
3. 收集、使用和披露您个人数据的目的我们在如何使用您的个人数据方面必须保持透明，这样您才能信任我们。华侨银行收集、使用和披露您个人数据的目的如下：
3.1. 管理和回应您的投诉、询问、请求、反馈和建议；
3.2. 确定和验证您的身份；
3.3. 管理我们的行政和业务运营；
3.4. 促进涉及任何公司的企业重组和业务资产交易（可扩展至任何合并、收购或资产出售）；
3.5. 为本政策中列出的任何目的对照与您相关的任何个人数据；
3.6. 要求反馈或参与调查，为统计、剖析或其他类似目的进行市场调研或分析。这些其他目的包括开发、设计和改进我们的产品和服务，以及了解客户行为、偏好和市场趋势；
3.7. 预防、侦查和调查犯罪（包括欺诈、洗钱和恐怖主义融资）；
3.8. 分析和管理商业风险；
3.9. 管理我们的场所和服务的安全和安保（包括闭路电视监控和进行安全检查）；
3.10. 项目管理；
3.11.提供媒体公告和回应；
3.12. 与产品和服务有关的营销优惠和促销活动（包括联合品牌产品和服务以及组织促销活动）；
3.13. 与任何索赔、诉讼或程序有关（包括起草和审查文件、交易文件、获取法律意见以及促进争议解决），以及保护和执行我们的合同和法律权利及义务；
3.14.管理和准备内部和外部报告；
3.15. 培训我们的员工，为您提供更好的产品和服务；
3.16. 确定服务水平；
3.17. 满足或遵守任何法律或监管机构发布的对我们具有约束力的适用规则、法律、法规、业务守则或指导方针，或我们被告知、建议或被告知应遵守的规则、法律、法规、业务守则或指导方针（包括向监管机构披露信息、进行审计检查、监督和调查以及尽职调查）、内部政策、协助执法或有关当局的调查，以及遵守新加坡交易所有限公司和／或任何其他相关证券交易所的上市和其他要求或指示；
3.18. 应对紧急情况；以及
3.19. 与上述相关的任何其他合理目的。与华侨银行的关系
此外，华侨银行收集、使用和披露您个人数据的目的取决于我们关系的性质:
4. 潜在客户4.1. 评估您的财务和银行需求，并向您提供建议；
4.2. 评估和处理您对华侨银行提供的产品和服务提出的任何申请或要求；
4.3. 与上述有关的任何其他合理目的。
5. 零售银行客户、私人投资者、实际所有人、担保人、担保提供人或指定代表（包括委托书持有人或授权书持有人）5.1 开立、维护或关闭您的账户，并为您建立或提供银行服务；
5.2. 如果已指派一名账户或客户经理或代理人为您的账户或投资组合提供服务，则使用您的电话号码与您联系，接受您的指示，并根据我们与您签订的协议条款和条件向您提供信息、更新或建议；
5.3. 为方便延续或终止银行关系、信贷与交易设施的日常运作，以及提供客户服务（包括回应客户的要求，提供邮寄、转让、报告、结算和对账服务、调查差异、错误或索赔，以及让客户满意）；
5.4. 进行客户审查（例如，对您的投资组合进行年度审查）；
5.5. 确定您的财务状况、风险状况、投资经验和投资目标，并帮助您考虑已投资或打算投资的产品是否适合您；
5.6. 提供电子银行服务；
5.7. 为方便华侨银行账户内的资金转账，或从华侨银行账户向外部银行账户转账，反之亦然；
5.8. 确保客户有持续信用度；
5.9. 管理特殊批准、费用调整或减免；
5.10. 管理投资产品（包括单位信托、国库产品、股票、商品、外汇、退休辅助计划、首次公开售股或公积金投资账户，以及华侨银行不时推出的其他投资产品）并提供托管服务；
5.11. 客户外联和关系管理；
5.12 符合或遵守任何法律或监管机构发布的对我们具有约束力的适用规则、法律、法规、业务守则或指南，或我们被告知、建议或被告知应遵守的规则、法律、法规、业务守则或指南（包括但不限于向监管机构披露信息、进行审计检查、监督和调查以及客户尽职调查）；
5.13. 档案管理（包括仓库储存和检索）；
5.14. 管理信用卡、转账卡、赊账卡、自动提款卡和其他卡（包括处理卡的申请、交易、信用额度审批和查询）；
5.15. 提供支票存款和签发服务；
5.16. 提供贷款和透支服务（包括评估信贷风险和履行还款义务）；
5.17. 管理银行保险产品（包括产品和服务的维护、管理和运作，与保单持有人沟通， 以及处理根据相关保单提出的任何索赔和付款）；
5.18. 管理基金服务（包括维护、管理和运营服务，以及与投资者沟通）；
5.19. 管理和方便证券、衍生工具或其他工具或投资的发售或其他交易，以及在交易系统或平台上执行此类交易；以及
5.20. 与上述有关的任何其他合理目的。
6. 银行保险客户6.1 处理您的保险申请；
6.2 管理、维护、和运作向您提供的产品和服务，包括其他公司的再保险产品和政府推动的计划；
6.3. 就您使用的产品和服务向您发送更新和管理通知，包括付款到期和保单到期通知；
6.4. 承保政策风险；
6.5 评估和处理根据保单提出的任何索赔；
6.6. 收取保险费和追收债务；以及
6.7. 与上述有关的任何其他合理目的。
7. 商业银行客户或与华侨银行有企业关系的组织的雇员、商业伙伴、独资业主、投资者、委托投票人、公司股东、监护人、董事、代理董事、押记人、担保人或保证人、代理人或代表7.1. 开立或延续账户，建立或提供银行服务；
7.2. 为方便服务、信贷和交易设施的日常运作（包括提供贷款、收集存款、转账、处理交易、报告和结算交易、更新投资者和被投资方的详细联系信息、处理公司行动和达成相关辅助安排）；
7.3. 为方便延续或终止银行关系（包括关闭账户）；
7.4. 管理投资银行服务（包括资本市场、企业融资服务和夹层资本融资服务）；
7.5. 管理投资产品（包括单位信托、国库产品、股票、商品、外汇以及华侨银行可能提供的其他投资产品）并提供托管服务；
7.6. 通过网络建立和维护客户关系；
7.7. 提供客户服务（包括让客户满意、代理投票和商家服务）；
7.8. 为方便并开展尽职调查；
7.9. 管理基金服务（包括服务的维护、管理和运作，以及与投资者的沟通）；
7.10. 处理销售代表的佣金和报酬；
7.11. 管理公司或企业信用卡、转账卡和其他卡（包括处理卡申请、交易和信用额度审批）；
7.12. 提供贷款和透支服务（包括评估信贷风险和履行还款义务）；
7.13. 管理和方便任何涉及证券、衍生工具或其他工具或投资的要约或其他交易，以及在交易系统或平台上执行此类交易；以及
7.14. 与上述有关的任何其他合理目的。
8. 推荐人或其他类似中介的雇员、代理或所有者8.1. 营销和潜在客户管理；
8.2. 处理佣金和报酬；以及
8.3. 与上述内容有关的任何其他合理目的。
9. 华侨银行外包或招揽的外部服务提供商或供应商或独立承包商的雇员、管理人员或业主9.1. 管理项目招标或货物和服务供应；
9.2. 处理和支付供应商发票；以及
9.3. 与上述内容有关的任何其他合理目的。
10. 华侨银行股东10.1. 维护法定登记簿，管理年度报告和通函中股东统计数据的发布；
10.2. 提供优先股、次级债和优先债发行的持股清单；
10.3. 为方便计划的实施（包括寻求批准新的投资、额外的筹资活动或奖金）；
10.4. 处理索赔（包括处理无人认领的现金分配索赔）；以及
10.5. 与上述有关的任何其他合理目的。
11. 交易方或交易对手（例如，资金转账或付款的受益人）11.1. 提供现金、支付和交易服务（包括相关交易的执行、结算、报告和／或清算）；以及
11.2. 与上述内容有关的任何其他合理目的。
12. 申请我们职位的人员本段适用于递交就业或代表职位申请的候选人，以及申请（或被推荐）我们职位的独立承包商、实习生和见习生。
12.1 进行面试；
12.2. 处理您的申请，包括涉及您资格的招聘前或聘用前检查以及协助面试；
12.3. 提供或获取雇员的推荐信并进行背景审查；
12.4 评估您是否适合在任何现有或未来职位就业或工作；
12.5. 处理职员的转介；
12.6. 核实您的身份以及您提供的个人数据和其他信息的准确性；以及
12.7. 与上述有关的任何其他合理目的。
13. 华侨银行的雇员、独立承包商、临时员工、实习生和见习生本段适用于与我们签订服务合同的所有人员（如独立承包商），以及附属于我们的实习生和见习生。
下列目的适用于您与我们的关系。即使您与我们的关系已经终止或以任何方式改变，这些目的仍可能继续适用。
13.1. 履行您与我们的雇佣合同或关系项下或与之相关的义务，如支付薪酬和税款；
13.2. 审查薪金、薪酬和奖金，进行薪金基准审查、工作人员考核和评估，以及表彰个人的服务和授予奖项；
13.3 评估您是否适合在华侨银行就业或任职，或继续就业或担任任何职位，并进行考核和评估；
13.4. 与您的雇佣或与我们的关系有关的行政、人力资源相关和支持流程，包括管理和终止您的雇佣或任命、员工福利（包括差旅、劳动力、业务连续性和后勤管理或支持）、处理费用报销、管理保险申请、休假管理、培训、学习和人才发展、解决申诉以及计划和组织公司活动；
13.5. 调查任何违约或违反我们内部或外部合规义务的行为（包括管理内幕交易风险）；
13.6. 向您提供工具和设备，使您能够或方便您履行职责，并监督您对这些工具和设备的使用；
13.7. 确保业务连续性，包括编制和发布内部通讯录和紧急联系人名单；
13.8. 了解工作场所的风险，确保工作场所人员的安全、健康和福利；
13.9. 管理企业社会责任项目；
13.10. 为人力资源规划和管理进行分析和研究，审查和制定与工作有关的做法、环境和生产力；
13.11. 确保华侨银行以安全、高效和有效的方式运作（包括检查或监控华侨银行内安装的任何电脑软件和硬件、您在此类电脑软件和 硬件上的活动、您的互联网接入、您的工作电子邮件以及个人数据和存储设备）；
13.12. 履行与我们向客户提供商品或服务有关的义务；
13.13. 应对紧急情况；
13.14. 管理终止程序；以及
13.15. 与上述有关的任何其他合理目的。
14. 华侨银行董事会14.1. 方便董事会成员的任命（包括管理在年度报告和通函中董事统计数据的发布）；
14.2. 行政事务（包括保存法定登记簿和提交董事酬金）；
14.3. 管理保险计划；以及
14.4 与上述有关的任何其他合理目的。
15. 与华侨银行有多重关系的用户
如果您与我们有多重关系（例如，如果您使用我们的数码服务和电子银行服务），则本段适用。15.1.将您的个人数据与我们掌握的其他个人数据合并；以及
15.2.将在您与华侨银行的各种关系中收集到的个人数据联系起来，以方便您使用我们的各种产品和服务
15.3.根据您与华侨银行的关系，以下数据保护政策也可能适用：- 商业银行数据保护政策
- 中国 - 隐私政策（零售银行业务）
- 中国 - 隐私政策（企业银行业务）
- 香港 - 隐私政策和个人数据收集声明
- 马来西亚 - 安全与隐私
- 泰国 - 个人数据保护通知
- 美国机构 - 遵从 CCPA/CPRA 隐私政策
- 越南 - 数据保护附件
16. 其他目的在适用法律允许的情况下，我们还可能出于以下目的收集、使用和披露您的个人数据（我们可能会在文件和协议中将其描述为处理个人数据的 "附加目的"）。
16.1. 通过各种渠道，包括直销、电子邮件、语音电话和基于电话号码的短信，向您提供或营销服务、产品和利益（包括促销、忠诚度和奖励计划）；
16.2 在华侨银行或其他第三方定制、提供、改进或提供产品、服务、营销或促销活动时，将个人数据与出于其他目的和从其他来源（包括从我们的相关公司、业务伙伴和第三方）收集的其他资料进行比对；
16.3. 管理竞赛和比赛；
16.4. 在我们的各个接触点（包括分支机构）为您提供个性化体验；
16.5 向您发送有关产品、服务、优惠和奖励的信息；以及
16.6. 通过测试、研究和分析（包括分析行为、需求、偏好、位置和人口统计），开发和改进现有及未来的产品和服务，并向您营销、提供这些产品和服务。我们还可能特别通知您我们收集、使用或披露您的个人数据的其他目的，这些目的与特定产品或服务有关，或与您与我们的互动有关。如果是这样，我们也会出于这些目的收集、使用和披露您的个人数据。
17. 个人数据的披露我们非常重视您个人数据的保密和披露。我们只会与选定的第三方共享您的个人数据。当我们向这些第三方披露您的个人数据时，我们要求他们确保您的个人数据保密和安全。出于上述目的（如适用），您的个人数据可能会披露给以下实体或当事方，无论其位于海外还是新加坡：
17.1.华侨银行的相关公司、他们各自的雇员以及我们的代表；
17.2. 向我们提供电子或其他服务的任何个人或组织；
17.3. 涉及资金转账、付款、签发支票和其他交易的交易方及其各自的银行；
17.4. 银行推荐信的第三方接收人；
17.5. 向华侨银行提供保险和再保险相关服务的公司；
17.6. 我们将某些运营职能或活动外包给的任何个人或组织（包括代理、承包商和第三方服务提供商），如快递服务、电信、资讯科技、支付、薪资、处理、培训、市场调研、存储、存档、客户支持调查服务或华侨银行的其他服务；
17.7 与华侨银行提供的营销推广和服务有关的供应商或其他第三方服务提供商；
17.8. 帮助我们提供、改进和优化产品、服务、网站和平台的分析、搜索引擎提供商或其他第三方服务提供商。
17.9. 信用报告机构；
17.10. 任何商业伙伴、投资者、受让人或受让方（实际或潜在），以方便涉及任何公司的商业资产交易（可扩展至任何合并、收购或任何债务或资产出售）；
17.11. 其他银行、金融机构、信贷机构、信用卡公司及其各自的服务提供商；
17.12. 第三方推荐人；
17.13. 我们的联合品牌、生态系统合作伙伴和其他业务合作伙伴；
17.14. 我们的专业顾问，如我们的审计师和律师；
17.15. 当地或海外的相关政府监管机构、部门、法定机构或当局、执法机构和公职人员，包括新加坡金融管理局、会计与企业监管局、新加坡警察部队以及破产与公共信托局；
17.16. 涉及贷款和抵押等其他信贷服务的鉴定师、拍卖师、估价师或其他第三方；
17.17. 申请学费贷款的大学；
17.18. 为工作人员安排海外旅行的酒店、旅行社和外国使馆；
17.19. 中央公积金局（"公积金"）及负责公积金投资产品、支付计划和处理超额支付退款的代理银行；
17.20. 经纪行、中央托收（私人）有限公司、基金公司、登记处、托管人、代理银行、外部银行以及参与资产管理和投资产品结算处理的投资实体；
17.21.新加坡信贷辅导服务公司以及追款和收回机构—执行贷款和其他信贷服务还款义务；
17.22. 外国使馆和外国信用报告机构—进行信用审查并执行贷款和其他信贷服务的还款义务；
17.23. 外部商业和慈善合作伙伴的企业宣传活动；
17.24. 收款公司，包括电信公司、全国职工总会、新加坡报业控股、市镇会和任何其他处理账单付款的实体；
17.25. 商店和零售商—提供雇员福利；
17.26. 任何互换存储库、交易数据存储库、报告代理、清算所、中央清算方（包括该清算所或中央清算方的任何清算会员）、清算经纪人、多边或其他交易设施、系统或平台或该等其他通信网络或拍卖设施；
17.27. 任何您授权我们向其披露您的信息或个人数据资料的其他方；以及
17.28. 必要时，提供给任何个人、组织、公司、商号、合伙企业、有限合伙企业、有限责任合伙企业、社团、协会、工会、机构或其他商业机构（不论是在本地还是在外国）。
18. 个人数据的保留如果收集您个人数据的目的仍然合理，或出于其他法律或业务目的而有必要保留您的个人数据，我们将保留您的个人数据。
19. 处理您的个人数据的其他依据除您同意我们收集、使用和披露您的个人数据外，在适用法律允许的情况下，华侨银行也可在未经您同意的情况下收集、使用和披露您的个人数据：
19.1. 出于我们或第三方的合法利益，例如
19.1(a) 改进反洗钱和金融犯罪风险管理；
19.1(b) 侦查和预防欺诈、金融犯罪和其他非法活动；
19.1(c) 侦查对安全和安保（包括资讯科技和网络安全）的威胁；
19.1(d) 预防滥用产品和服务；
19.2. 进行信用分析和其他必要的尽职调查；
19.3. 改进公司的产品、服务、流程或业务，了解您的偏好，并提供个性化的体验和建议（无论您是公司的现有客户还是潜在客户）；
19.4 根据例外情况，或根据适用法律的要求或授权。
20. cookie和相关技术的使用我们的网站和平台使用cookie、网络信标和相关技术。cookie是存储在您的网络浏览器或电子设备上的文件。它们用于启用我们网站的某些功能，例如记住您的偏好和其他信息。下次访问我们的网站或平台时，您的浏览器将读取 cookie，并将信息反馈给设置cookie的网站或平台。
网络信标是一种暗藏的图形，用于监控您与我们网站和平台的互动。我们的网站或平台还可能使用跟踪链接来帮助我们了解您的偏好。
这些技术可用于跟踪网站和平台的流量模式，了解电子邮件是否被接收或打开，以及是否有任何回应。
我们可能出于以下目的使用cookie、网络信标和相关技术：20.1. 让我们的网站和平台运行，例如使您能够登录和浏览我们的网站和平台；
20.2. 了解并记住您的偏好；
20.3. 提高我们网站和平台的使用率、有效性和性能；
20.4. 显示与您相关的广告并了解我们广告的有效性；以及
20.5. 收集用户在华侨银行网站和平台上的浏览记录。我们使用的一些cookie来自第三方网络分析和情报提供商。我们利用这些信息对与我们的网站、平台和在线内容互动的访客进行统计，以衡量我们的沟通效果，并为我们的访客提供更好的信息。如需了解更多信息，请参阅以下链接：
如果您不同意这样使用Cookie，您可以删除Cookie或更改浏览器的相应设置。有关配置网络浏览器的信息，请参阅：
请注意，这可能会影响您的用户体验，您可能无法进入我们网站或平台的某些部分。当您访问我们的网站或平台，或点击我们发送的定向电子邮件中的链接时，我们的系统会发出cookie，即使您之前已经删除了我们的cookie。
21. 人工智能我们不断创新，提升您的银行体验，确保您的体验无缝且安全。我们利用人工智能等各种技术，积极防范欺诈行为，简化与您的沟通，并根据您的需求为您量身定制服务。 确保我们为您提供合适的产品和服务。
如需深入了解我们对人工智能的使用，请参阅我们的人工智能政策。
22. 安全措施华侨银行已采取保障措施保护您的个人数据资料。这包括一项全组织范围的数据保护管理计划，以确保数据保护的合规性和风险管理。作为该计划的一部分，我们确保所有员工都接受保护个人数据资料的培训。我们还定期对数据保护合规性进行内部和外部审计。违反我们的数据保护政策可能导致纪律处分。
尽管我们努力保护您的个人数据，但在使用电子服务时仍存在风险。有关保护个人数据安全的提示，请参阅网上银行安全和恶意软件通知部分。
23.第三方网站我们的网站可能包含第三方网站的链接。我们不对此类网站的隐私政策负责。如果您访问这些第三方网站，您应查看其隐私政策。其中一些第三方网站可能带有华侨银行的标志，即使这些网站不由我们操作或维护。
24. 联系我们就您的个人数据、我们的数据保护政策（包括我们对合法权益的依赖）、撤销您的同意或获取和修改您的个人数据记录等事宜，请联系我们的数据保护办公室：
- 电子邮件: dpo@ocbc.com;
- 电话: 1800 363 3333; 或
- 请与我们任何一家分行的工作人员联系。
您可以撤销对收集、使用和披露您的个人数据的同意。如果您撤回同意，华侨银行可能无法继续向您提供产品或服务，无法管理任何已建立的合同关系，也无法履行或缔结现有或潜在协议。这可能导致您与华侨银行签订的任协议终止，造成您违反合同义务或承诺。在这种情况下，我们保留我们的法律权利和补救权。
请注意，如果您的个人数据是由第三方提供给我们（例如中央托收（私人）有限公司），您应直接联系该第三方代表您向我们提出任何询问、反馈、查阅和更正要求。
25. 适用法律本数据保护政策和您对本网站的使用均受新加坡法律管辖。
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最佳执行政策
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简介
本文件的目的是详细列出本行营业地的适用法律法规所要求的、就执行某些金融票据的指令时，华侨银行有限公司（“华侨银行”的）最佳执行政策。
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范围
最佳执行政策适用于华侨银行开展受证券期货法（“SFA”）管制的业务的所有营业地点或其职员根据 SFA 被指定为银行代表的营业地点，但不包括华侨银行的子公司。
最佳执行政策将列出华侨银行的最佳执行流程的指定原则。如有任何冲突或不一致，以当地法规要求为准。
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治理和管理监督
本行将持续（至少每年一次）监控最佳执行安排，以确认和执行任何适当的改进。
华侨银行保留根据其认为必要，不时修改本文件的权力。任何对最佳执行政策的重大修改将在此更新。
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最佳执行的适用性
本文件适用于本行营业地的管理当局规定的“最佳执行”范围内的所有金融票据。
新加坡金融管理局未将集合投资计划列入最佳执行范围。这是基于集合投资计划仅在（集合投资计划管理人/经理）的一个地点进行认购和赎回，且仅为一个价格（净资产）。因为就执行地点和/或价格并无酌定权，集合投资计划不在本文件的范围内。
我们有一个政策和框架用于华侨银行为客户提供最佳的执行结果，但以金融票据为前提，并考虑到客户指令的性质、可供执行金融票据的场所和客户要求我们执行这些指令的优先级别。虽然华侨银行会采取所有必要的步骤来达到最佳执行，华侨银行不保证就每一交易都可以达到最佳的执行结果或确认每一交易都可以全部执行。
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政策要求
在执行你的指令时，华侨银行将考虑到以下因素：
- 价格；
- 成本；
- 速度；
- 执行的可能性；
- 交割的可能性；
- 指令的大小；
- 指令的性质；
- 指令的其他方面。
尽管如此，存在某些这些因素会发生变化的场合，这可能包括但不限于以下：
- 指令的类别；
- 产品的类别；
- 客户提供的特别指示；
- 执行指令时的市场的一般性条件
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特别指示
如果您就指令或其部分的执行发出了特别指示，华侨银行应确保按照您的指示执行指令。在此情况下，在你的指示有关的部分指令被按照特别指示得到执行时，华侨银行认为已经满足了特别指示。
如果发出了特别指示，这些指示可能会导致和没有这些指示相比，不那么满意的执行结果。
如果您就指令的一部分发出了特别指示，华侨银行不认为其解除了未被指示覆盖的那部分指令的最佳执行义务。在此情况下，华侨银行将遵守未被指示覆盖的那部分交易的最佳执行政策。
如果您发出的特别指示无法被遵守，华侨银行在执行您的指令之前，将告知理由。
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处理指令
我们有进一步的程序来确保我们即时和公平地执行您的指令，考虑到管理任何您、我们和我们的其他客户之间的潜在利益冲突的必要。
我们将按顺序即时执行您和其他可比的客户的指令，除非（i）您的指令的特征或当时的市场条件使得这样执行不可行；或（ii）您的利益要求不这样执行。
如果您未提供特别指示，我们将合理尽快执行和分配指令。
在执行您的指令时，我们可能决定将您的指令和我们自己的指令或其他客户的指令合并执行。比如，为了使得我们执行更大的交易量，向您提供更好的价格或减少交易成本而合并指令。我们仅会在合并指令总体上不会对您造成不利时合并指令。如果不能执行合并指令的全部，我们将基于公平合理原则进行分配。
我们将尽力合理尽快的将指令执行和分配结果通知您。
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不受银行控制的事项
在某些情况下，无论是因为系统错误、市场中断或其他原因，可能需要按照与金融票据中所述的不同方式执行客户的指令。在此情况下，交易单位将会尽力获得当时的市场条件下可能获得的最佳结果。
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有关咨询的联系方式
如有疑问，请咨询您的客户经理。
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人工智能政策
我们如何使用人工智能政策?
OCBC致力于利用先进技术为客户提供高效和创新的服务，以提升我们的流程。作为这一承诺的一部分，OCBC在业务中使用人工智能（AI）。
AI是计算机系统的重大进步，使它们能够执行过去需要人类智能才能完成的任务。通过AI，我们旨在提升客户体验，使员工的工作更有意义。
以下是一些我们运用AI提供更好服务的主要方式：-
保护我们的客户
我们的AI算法会持续监控客户的账户活动，以检测任何可疑的交易，及潜在欺诈活动或诈骗行为的模式。通过这种积极主动的方式，我们旨在确保客户的财产安全，并保护客户的账户免受未经授权的访问。
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保护银行和社会
我们应用AI算法来主动监测金融犯罪，如洗钱行为。通过主动识别金融犯罪，我们旨在保护OCBC、社会以及我们金融系统的健康。
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个性化和营销
我们的AI算法分析银行交易、互动信息和客户资料，为客户提供量身定制的见解和建议。赋能我们的客户做出更好的财务决策，使他们收到更相关的OCBC营销信息。
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提升客户服务
我们的AI聊天机器人全天候提供基本服务咨询，比如账户管理和提供基本信息。这些聊天机器人提供及时准确的回答，确保客户在需要时得到无缝的帮助。
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高效贷款审批
我们在贷款申请评估过程中应用AI算法，提供更精确、更快捷的决策。这提高了我们的贷款处理效率，确保客户及时获得贷款申请的决策。
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提升员工工作质量
我们还利用AI提高我们的工作效率。这简化了我们的内部流程，使我们能够高效地为客户服务。
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提升员工敬业度
员工是我们组织的重要组成，我们利用AI，根据员工技能为他们提供职业、学习和发展需求的建议，从而提升员工敬业度。我们还利用AI采取主动措施来留住人才。我们帮助员工实现愿望，保障充足稳定的人力资源，以便更好地为客户服务。
我们充分理解数据隐私、数据安全以及AI决策的无意偏差对客户至关重要。因此，我们严格遵守数据保护法规，并采取有力的安全措施来保护客户的个人数据。我们的数据保护政策规定了如何收集、使用和披露客户的个人数据。我们还定期审查和测试我们所部署的AI，以排除错误或无意偏差。
随着技术的持续发展，我们将继续屹立于创新的前沿，更好地为客户服务。我们的专业团队不断探索利用AI和其他新兴技术及方法，以满足不断变化的银行需求。
如果您对我们使用AI有任何疑问，请与我们联系。
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Singapore
Effective 1 January 2015
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Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
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Tax Withholding and Compliance Provisions
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Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
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Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
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Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
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Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
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General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
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Frequently Asked Questions
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What is FATCA?
The Foreign Account Tax Compliance Act (FATCA) was enacted by the United States (US) Congress in March 2010 and become effective on 1 July 2014, with a phased implementation timeline where some obligations will be implemented over a period of 2.5 years. FATCA targets non-compliance with US tax laws by US Persons holding accounts and investments outside of US.
FATCA affects financial institutions (FIs) worldwide. The US has developed Intergovernmental Agreement (IGA) models and reached out to partner jurisdictions, including Singapore, using these bilateral IGAs as tools to facilitate FIs' compliance with FATCA.
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What is the impact of FATCA?
FATCA requires all financial institutions (FIs) outside the US to report on a regular basis information about financial accounts held directly or indirectly by US Persons (both personal and business) to IRS or the local tax authorities. FATCA legislation also affects certain types of non-US businesses with US owners.
For Singapore-based FIs, we are required to undertake annual reporting to the Inland Revenue Authority of Singapore (IRAS) under the Singapore Income Tax (International Tax Compliance Agreements) (United States of America) Regulations 2014 arising from FATCA requirements.
OCBC is committed to being fully FATCA compliant. With effect from 1 January 2015, we will require customer establishing financial accounts with our Bank to provide us information on their FATCA statuses. We will also be reviewing our existing customer base to confirm the FATCA statuses of our customers and where necessary, we may have to contact our customers for further information and documentation.
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Is FATCA applicable to personal or business customers?
FATCA impacts both personal and business customers.
It affects personal and business customers who are treated as a US Person for US Tax purposes.
The FATCA legislation also affects certain types of non-US businesses that have a FATCA status as Passive non-financial foreign entities with US owners.
Please note that OCBC is unable to provide any tax advice. In case of uncertainty, please consult professional tax advice, or refer to the IRS website and IRAS website for more information.
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Is FATCA only applicable to US businesses?
No. FATCA impacts not only US businesses, it also imposes extra disclosure requirements on many non-US businesses. Financial Institutions (FIs) are required under the Act to reach out to many business customers globally to determine their status under FATCA. The aim of this exercise is to identify customers which are reportable under FATCA.
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What is required from a business customer?
In order to establish your tax status under FATCA, we may need you to provide a Certification on your FATCA status and additional information or documentation to substantiate the status. Please refer to www.ocbc.com/business-banking/Forms.html on the FATCA documents required by OCBC.
Please note that you may receive more than one request for documentation if you have multiple relationships with different members of OCBC Group. It is important that you respond to all requests, even if you believe you have already supplied the requested information.
In addition, the way in which financial institutions (FIs) collect information from their customers in order to confirm their tax status under FATCA may vary. This may mean that in some instances you are asked for different documentation from OCBC than from another bank.
Please note that OCBC is unable to provide any tax advice. In case of uncertainty, please consult professional tax advice, or refer to the IRS website and IRAS website for more information.
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How will incoming funds from US into a business account affect FATCA reporting?
FATCA entity classification of a customer will be based on the customer's declaration of its FATCA status to the Bank, as well as any additional information or documentation required to substantiate the status. In case of uncertainty of your FATCA status, please consult professional tax advice.
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How frequent is FATCA information required?
FATCA is an ongoing process. If there is any change in your FATCA status, you have to notify us within 30 calendar days from the date of change.
If your account information changes, we may also contact you to obtain additional information or documentation to update your FATCA status with the Bank.
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Under what circumstances would OCBC report account information to the IRS or local tax authority?
The purpose of FATCA is to prevent US Persons from using banks and other financial organisations to avoid US taxation on their global income and assets. OCBC will therefore report information to the Inland Revenue Authority of Singapore (IRAS) on all accounts (including personal and business) held directly or indirectly by US Persons, as well as certain types of non-US businesses that have FATCA status as Passive non-financial foreign entities with US owners. In addition, we may also need to report information about customers who do not provide the required documentation to us.
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What will OCBC do if customer does not provide the information required under FATCA?
OCBC is committed to being fully FATCA compliant. Thus, OCBC may not open new accounts or offer additional products and services to customers who choose not to comply with OCBC's requests for documentation to establish their status under FATCA.
OCBC may need to report information about customers who do not provide the required documentation to us to the Inland Revenue Authority of Singapore (IRAS).
For more information regarding FATCA, please refer to the IRS website and IRAS website or contact your professional tax advisor for advice.
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What do I do if I am unsure of my business FATCA status?
Please do consult professional tax advice.
Download FATCA Certification Forms to establish your foreign tax status.
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Australia
Effective 1 January 2015
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Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
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Tax Withholding and Compliance Provisions
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Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
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Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
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Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
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Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
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General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
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Hong Kong
Effective 1 January 2015
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Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy;
- the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
-
Japan
Effective 1 January 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore or Japan.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore or Japan.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or Japanese law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
Malaysia – Labuan Branch
Effective 1 January 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner"
A person shall be deemed to be a controlling shareholder if he Controls more than 50% of the voting rights"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
Myanmar
Effective 23 April 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Myanmar.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, Substantial Owners and Controlling Persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Myanmar.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited, Yangon Branch and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its Substantial Owners and Controlling Persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial Owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 10% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 10% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 10% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Myanmar law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy;
- the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
Taiwan
Effective 1 January 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
Thailand
Effective 1 January 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, Substantial Owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited, including any of its branches in any jurisdiction and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial Owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
- The Customer shall fully indemnify and hold OCBC Bank harmless in respect of any liabilities, losses, damages, claims, costs and/or expenses (other than loss of profit, loss of revenue or loss of business) which may be suffered or reasonably incurred by OCBC Bank directly or indirectly arising out of or in connection with:
- (x) any material misrepresentation, or incomplete or inaccurate or false information you provided to us; (y) any withdrawal of consent, agreement or waiver referred to in this FATCA Policy; or (z) any breach of any terms of this FATCA Policy on the part of the Customer or the Consenting Person.
- any claims, proceedings or actions against OCBC Bank by the Consenting Person.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
- Where the Customer is opening and/or maintaining account(s) with OCBC Bank and/or obtaining Services from us as an agent or a nominee for any Consenting Person, the consents, agreements and waivers in this FATCA Policy shall be deemed to be given by the Customer in its own capacity and on behalf of each such Consenting Person.
-
-
USA Agencies
Effective 1 January 2015
-
Definitions and Interpretation
In this FATCA Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 10% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 10% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 10% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
- this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
-
-
Vietnam
Effective 1 January 2015
-
Definitions and Interpretation
Định nghĩa và diễn giảiIn this FATCA Policy, the following capitalised terms have the following meaning:
Trong Chính sách FATCA này, những thuật ngữ in đậm dưới đây có ý nghĩa như sau:"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Thông tin Tài khoản" có nghĩa là bất cứ thông tin nào liên quan đến bất kỳ tài khoản nào của Khách hàng mở tại Ngân hàng OCBC bao gồm nhưng không chỉ giới hạn đến số tài khoản, số dư tài khoản hoặc giá trị tài khoản, và những khoản tiền ghi có, rút và thanh toán đến hoặc từ tài khoản."Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.
"Luật và Quy định pháp luật áp dụng" có nghĩa là nghĩa vụ của Ngân hàng OCBC phải tuân thủ với (i) luật, pháp lệnh, quy định, yêu cầu, thông báo, hướng dẫn, luật lệ, quy tắc thực hành trong nước và nước ngoài, dù là có hay không có liên quan đến Hiệp định liên chính phủ giữa các chính phủ hoặc các cơ quan có thẩm quyền của hai hay nhiều thẩm quyền tài phán khác nhau và (ii) bất cứ thỏa thuận nào giữa Ngân hàng OCBC và bất kỳ chính phủ hoặc cơ quan thuế ở bất kỳ thẩm quyền tài phán nào, và bao gồm nhưng không giới hạn FATCA."Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Vietnam.
"Cơ quan Thẩm quyền" có nghĩa là bất kỳ quốc gia, tiểu bang hoặc chính quyền địa phương, phân khu hay cơ quan chính trị nào trực thuộc chính quyền đó, bất kỳ nhiệm sở, cơ quan thẩm quyền, công cụ quyền lực nào, cho dù là về mặt tổ chức tư pháp hoặc hành chính, tổ chức chính quy hoặc tự điều tiết, cơ quan thi hành pháp luật, tòa án, ngân hàng trung ương hoặc cơ quan thuế vụ ở bất kỳ thẩm quyền tài phán nào, dù trong hay ngoài quốc gia Việt Nam"."Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Bên Chấp thuận" có nghĩa là bất kỳ cá nhân hay tổ chức nào có thông tin (bao gồm Thông tin Thuế) nhận được bởi Ngân hàng OCBC trong quá trình cung cấp Dịch vụ. Để tránh nghi ngờ, "Bên Chấp thuận" có thể bao gồm Khách hàng, Chủ sở hữu lớn và Người kiểm soát Khách hàng, bất cứ đối tượng nào được hưởng lợi về mặt lợi ích hoặc về mặt tài chính trong các giao dịch đã hoặc sẽ thanh toán bởi Ngân hàng OCBC."Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Người Kiểm soát" có nghĩa là bất kỳ cá nhân nào thực hiện quyền kiểm soát cuối cùng đối với một tổ chức hoặc quỹ tín thác."Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"Khách hàng" có nghĩa là bất kỳ Đối tượng nào có quan hệ với Ngân hàng OCBC liên quan đến Dịch vụ, cho dù là riêng hoặc chung với Đối tượng khác và, đối với công ty sẽ bao gồm người kế thừa của nó, đối với công ty hợp danh hoặc các tổ chức chưa hợp nhất khác gồm hai hay nhiều thành viên sẽ bao gồm người kế thừa, người chấp hành và người đại diện cá nhân của nó."FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Vietnam.
"FATCA" có nghĩa là mục 1471 đến mục 1474 của Đạo Luật Thuế Vụ năm 1986 của Hoa Kỳ, các sửa đổi của nó và bất kỳ quy định liên quan hoặc tương tự pháp luật, điều ước quốc tế, thỏa thuận liên chính phủ, thỏa thuận tổ chức tài chính nước ngoài, quy định, hướng dẫn hoặc văn bản chính thức của bất kỳ Cơ quan Thẩm quyền nào ở bất kỳ thẩm quyền tài phán nào trong hoặc ngoài quốc gia Việt Nam."OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Ngân hàng OCBC" nghĩa là Oversea-Chinese Banking Corporation Limited, bao gồm cả những người kế nhiệm và người nhận chuyển nhượng."Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Đối tượng" có nghĩa là bất kỳ cá nhân, tổ chức, công ty, công ty hợp danh, công ty liên doanh, quỹ tín thác, đầu tư bất động sản, công ty trách nhiệm hữu hạn, tổ chức chưa hợp nhất hoặc là những tổ chức khác."Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, or (if applicable) such information as OCBC Bank may reasonably require regarding each of its Substantial owners and Controlling persons.
"Thông tin Cá nhân" liên quan đến Khách hàng và bất kỳ Bên Chấp thuận nào có nghĩa là (i) đối với Khách hàng và Bên Chấp thuận là cá nhân, đó là tên đầy đủ, ngày sinh, nơi sinh, địa chỉ cư trú, địa chỉ gởi thư, thông tin liên hệ (bao gồm số điện thoại liên lạc), và bất kỳ mã số nhận diện thuế, số an sinh xã hội, quyền công dân, nơi cư trú và nơi chịu thuế hoặc (nếu có) những thông tin cần thiết khác mà Ngân hàng có lý do hợp lý để yêu cầu Khách hàng và Bên Chấp thuận; (ii) đối với với Khách hàng và Bên Chấp thuận là tổ chức, đó là ngày và nơi đăng ký kinh doanh hoặc thành lập, địa chỉ đăng ký, địa chỉ hoạt động và nơi hoạt động, mã số nhận diện thuế, tình trạng thuế, nơi chịu thuế hoặc (nếu có) những thông tin cần thiết khác mà Ngân hàng có lý do hợp lý để yêu cầu liên quan đến Chủ sở hữu lớn và Người Kiểm soát của Khách hàng."Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Dịch vụ", trong mối quan hệ với Khách hàng có nghĩa là, nhưng không chỉ giới hạn đến (i) việc mở, duy trì và đóng tài khoản ngân hàng; (ii) việc phát hành, duy trì, quản lý, và chấm dứt hợp đồng bảo hiểm; (iii) việc cung cấp bất kỳ dịch vụ ngân hàng hoặc dịch vụ tài chính và sản phẩm (bao gồm nhưng không chỉ giới hạn đến, dịch vụ ngân hàng bán lẽ, hạn mức tín dụng, dịch vụ thẻ tín dụng, cho vay, môi giới, dịch vụ ngân hàng đầu tư, dịch vụ tài chính doanh nghiệp, cung cấp vốn thứ cấp, dịch vụ thị trường vốn, dịch vụ sản phẩm ngân quỹ và giao dịch tài chính phái sinh); duy trì mối quan hệ giữa Ngân hàng OCBC và Khách hàng (bao gồm nhưng không chỉ giới hạn đến, các họat động tiếp thị và khuyến mãi các sản phẩm và dịch vụ tài chính và ngân hàng); và (v) bất kỳ hành động hay tài liệu nào mà Ngân hàng OCBC hổ trợ, triển khai bất kỳ khoản (i) đến (iv) nêu trên (bao gồm nhưng không chỉ giới hạn đến họat động nghiên cứu và phân tích)."Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own at least 10% of charter capital of the corporate; certain persons that directly or indirectly own more than 20% of charter capital of the corporate or entity contributing over 10% of charter capital of the corporate or entity, (2) with respect to a private company, the owners of the private company and (3) other certain persons who actually govern the corporate or entity.
"Chủ sở hữu lớn" bao gồm (1) đối với công ty hoặc tổ chức, đó là những cá nhân trực tiếp hoặc gián tiếp sở hữu từ 10% trở lên vốn điều lệ của công ty hoặc tổ chức đó; những cá nhân trực tiếp hoặc gián tiếp sở hữu từ 20% trở lên vốn điều lệ của tổ chức góp trên 10% vốn điều lệ của công ty hoặc tổ chức đó, (2) đối với công ty tư nhân, đó chủ doanh nghiệp tư nhân và (3) cá nhân khác thực tế chi phối công ty hoặc tổ chức đó."Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
"Thông tin Thuế" liên quan đến Khách hàng và bất kỳ Bên Chấp thuận nào, có nghĩa là (i) bất kỳ chứng từ hoặc thông tin (và kèm theo bản sao kê, miễn trừ và chấp thuận theo yêu cầu của Ngân hàng OCBC vào từng thời điểm cụ thể) liên quan trực tiếp hoặc gián tiếp đến tình trạng thuế của Khách hàng và bất kỳ Bên Chấp thuận nào; (ii) Thông tin Cá nhân của Khách hàng và bất kỳ Bên Chấp thuận nào; và (iii) Thông tin Tài khoản. -
Tax Withholding and Compliance Provisions
Khấu trừ thuế và Những quy định Tuân thủ-
Provision of Information
Cung cấp thông tin-
The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
Khách hàng phải cung cấp cho Ngân hàng OCBC Thông tin Cá nhân của Khách hàng, và theo yêu cầu hợp lý của Ngân hàng OCBC, Thông tin Cá nhân của bất kỳ Bên Chấp thuận nào theo hình thức và vào thời gian mà Ngân hàng OCBC yêu cầu ở từng thời điểm cụ thể.
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When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
Khi có sự thay đổi hoặc bổ sung Thông tin Cá nhân của Khách hàng và (nếu có) bất kỳ Bên Chấp thuận nào, Khách hàng phải nhanh chóng thông báo cho Ngân hàng OCBC về sự thay đổi hoặc bổ sung đó (và trong bất cứ trường hợp nào cũng không trễ hơn 30 ngày kể từ ngày thay đổi hoặc bổ sung).
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The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
Khách hàng phải, và, nếu có, thúc đẩy Bên Chấp thuận khác hoàn thành và ký những chứng từ và tiến hành các hành động theo yêu cầu hợp lý của Ngân hàng OCBC từng thời điểm cụ thể nhằm mục đích tuân thủ Luật và Quy định pháp luật áp dụng của Ngân hàng OCBC.
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The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
Khách hàng đồng ý rằng Ngân hàng OCBC có thể trực tiếp yêu cầu bất kỳ Bên Chấp thuận cung cấp hoặc xác nhận tính chính xác về Thông tin Cá nhân của họ mà không cần thông qua Khách hàng nếu Ngân hàng OCBC có cơ sở hợp lý cho rằng việc này là đúng đắn.
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Disclosure of Information
Công bố Thông tin-
he Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
Khách hàng đồng ý rằng Ngân hàng OCBC có thể công bố Thông tin Thuế của Khách hàng và Thông tin Thuế của bất kỳ Bên Chấp thuận nào cho bất kỳ Cơ quan Thẩm quyền nào trong bất kỳ thẩm quyền tài phán nào nhằm bảo đảm việc tuân thủ của Ngân hàng OCBC theo Luật và Quy định pháp luật áp dụng.
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The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
Khách hàng từ bỏ, và, theo yêu cầu hợp lý của Ngân hàng OCBC, đồng ý thúc đẩy bất kỳ Bên Chấp thuận nào khác từ bỏ bất kỳ hạn chế nào, nếu không, sẽ cản trở khả năng của Ngân hàng OCBC khi công bố Thông tin Thuế nhằm mục đích tuân thủ Luật và Quy định pháp luật áp dụng, và cụ thể là, sẽ công bố Thông tin Thuế theo cách thức quy định tại khoản 2.2a.
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The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
Khách hàng đồng ý rằng Ngân hàng OCBC có thể trực tiếp yêu cầu bất kỳ Bên Chấp thuận nào đồng ý việc công bố thông tin theo quy định tại khoản 2.2a.và/ hoặc từ bỏ bất kỳ hạn chế nào về công bố thông tin, nếu Ngân hàng OCBC có cơ sở hợp lý cho rằng việc này là đúng đắn.
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Failure to Provide Information
Không thể cung cấp thông tinThe Customer agrees that:
Khách hàng đồng ý rằng:-
where the Customer fails to comply with its obligations under 2.1 above; or
khi Khách hàng không tuân thủ trách nhiệm của mình theo khoản 2.1 ở trên; hoặc
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where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
khi bất kỳ Bên Chấp thuận nào không tuân thủ những yêu cầu của Ngân hàng OCBC nêu tại khoản 2.1 hoặc 2.2, hoặc
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where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
khi Thông tin Cá nhân (cho dù Thông tin Cá nhân này liên quan đến Khách hàng hoặc bất kỳ Bên Chấp thuận nào hay không) không chính xác, không hoàn chỉnh, không được cập nhật; hoặc
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for whatever reason OCBC Bank is prevented (under Vietnamese law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
vì bất cứ lý do gì Ngân hàng OCBC bị trở ngại (theo luật Việt Nam hoặc quy định khác) không thể công bố Thông tin Thuế của Khách hàng và/ hoặc (những) Bên Chấp thuận cho Cơ quan Thẩm quyền theo yêu cầu của Luật và Quy định pháp luật áp dụng,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
Ngân hàng OCBC có thể tiến hành một hoặc nhiều hành động sau đây vào bất cứ thời điểm nào mà Ngân hàng yêu cầu nhằm đảm bảo việc tuân thủ Luật và Quy định pháp luật áp dụng:-
deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
Khấu trừ hoặc giữ lại một phần từ bất kỳ khoản tiền nào mà Khách hàng và/ hoặc (những) Bên Chấp thuận phải trả tại Ngân hàng OCBC;
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refuse to provide new Services to the Customer;
từ chối cung cấp Dịch vụ mới cho Khách hàng;
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terminate the Customer's account(s) with OCBC Bank;
chấm dứt (những) tài khoản của Khách hàng với Ngân hàng OCBC;
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discontinue entirely or in part OCBC Bank's relationship with Customer; and
ngừng toàn bộ hoặc một phần quan hệ của Ngân hàng OCBC với Khách hàng; và
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provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
cung cấp (dù là trước hoặc sau khi tiến hành các hành động tại mục 3 và 4 của khoản này) Thông tin Thuế liên quan đến Khách hàng và/hoặc bất kỳ những Bên Chấp thuận nào cho Cơ quan Thầm quyền của bất kỳ thẩm quyền tài phán nào.
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Customer Confirmations
Xác nhận Khách hàngBy using or accepting the Services, the Customer confirms and agrees that:
Bằng việc sử dụng hoặc chấp nhận những Dịch vụ, Khách hàng xác nhận và đồng ý rằng:-
without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this FATCA Policy, has received adequate explanation, and understands the implications of this FATCA Policy by which Customer irrevocably agrees to be bound;
không ảnh hưởng đến các điều khoản và điều kiện áp dụng điều chỉnh mối quan hệ giữa Ngân hàng OCBC và Khách hàng, Khách hàng xác nhận rằng Khách hàng đã đọc Chính sách FATCA này, đã nhận được lời giải thích thỏa đáng, và hiểu được ý nghĩa của Chính sách FATCA này mà Khách hàng đồng ý một cách không thể hủy ngang về việc chịu sự ràng buộc theo đó;
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any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA Policy is irrevocable;
bất kỳ thỏa thuận, miễn trừ, xác nhận được đưa ra, hoặc sẽ được đưa ra theo chính sách FATCA này là không thể hủy ngang;
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OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this FATCA Policy;
Ngân hàng OCBC không chịu bất kỳ chi phí hoặc tổn thất nào mà Khách hàng (hoặc những Bên Chấp thuận) có thể xảy ra do Ngân hàng OCBC tiến hàng bất kỳ những hành động được phép hoặc thực thi bất kỳ quyền nào theo Chính sách FATCA;
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any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this FATCA Policy;
bất kỳ khoản rút tiền hoặc thanh toán nào được thực hiện bởi Ngân hàng OCBC theo bất kỳ Dịch vụ nào sẽ chịu sự điều chỉnh của Chính sách FATCA này;
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the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this FATCA Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this FATCA Policy;
Khách hàng phải nhận được hoặc, tùy từng trường hợp, đã nhận được sự chấp thuận cần thiết từ mỗi Bên Chấp thuận về việc cung cấp Thông tin Thuế của họ cho Ngân hàng OCBC và Thông tin Thuế đó sẽ được công bố bởi Ngân hàng OCBC theo Chính sách FATCA này; Khách hàng phải thông báo cho mỗi Bên Chấp thuận về quyền của Ngân hàng OCBC theo Chính sách FATCA này;
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this FATCA Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
Chính sách FATCA này không ảnh hưởng, và bổ sung thêm cho, các quyền và quyền hạn của Ngân hàng OCBC theo các điều khoản và điều kiện điều chỉnh mối quan hệ giữa Khách hàng và Ngân hàng OCBC.
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General
Điều khoản chung-
In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Bank, this FATCA Policy shall prevail.
Nếu có bất kỳ mâu thuẫn hoặc không thống nhất giữa những nội dung của Chính sách FATCA và những điều khoản và điều kiện điều chỉnh mối quan hệ giữa Khách hàng và Ngân hàng OCBC, Chính sách FATCA sẽ ưu tiên áp dụng. -
Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
Không phụ thuộc vào bất kỳ các điều khoản và điều kiện nào khác điều chỉnh mối quan hệ giữa Khách hàng và Ngân hàng OCBC (bao gồm nhưng không chỉ giới hạn đến những điều chỉnh hoặc sửa đổi đến các điều khoản và điều kiện đó), Ngân hàng OCBC có thể điều chỉnh, cập nhật, và sửa đổi Chính sách FATCA này đơn phương vào bất kỳ lúc nào theo yêu cầu của Ngân hàng để đảm bảo sự tuân thủ với Luật và Quy định pháp luật áp dụng.
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If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
Nếu toàn bộ hoặc một phần của Chính sách FATCA này bất hợp pháp, vô hiệu, hoặc không thề thực thi được theo luật của bất kỳ một thẩm quyền tài phán nào, thì điều đó sẽ không ảnh hưởng đến tính hợp pháp, hiệu lực hoặc thực thi các điều khoản đó ở bất kỳ một thẩm quyền tài phán khác hoặc phần còn lại của Chính sách FATCA này tại thẩm quyền tài phán đó.
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It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
Việc yêu cầu các tư vấn độc lập về nghĩa vụ của mình theo Chính sách FATCA này cũng như những hệ quả theo đó từ các chuyên gia có đủ năng lực về thuế hoặc luật pháp là trách nhiệm của Khách hàng. Ngân hàng OCBC không cung cấp các tư vấn thuế hoặc luật pháp và cũng không tư vấn Khách hàng liên quan đến thuế thu nhập Liên bang Hoa Kỳ hoặc những nghĩa vụ thuế khác là hệ quả theo đó theo từng hoàn cảnh cụ thể của Khách hàng.
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Singapore
Effective 5 December 2016
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Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of interest, dividends and other income generated with respect to the assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of property paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
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Tax Compliance Provisions
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Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
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Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
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Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where the Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
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Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank.
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General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
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Frequently Asked Questions
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What is CRS?
The Common Reporting Standard ("CRS") is a global standard for automatic exchange of financial account information. It was developed by the Organisation for Economic Cooperation and Development ("OECD"). It is also commonly known as Automatic Exchange of Information ("AEOI") or sometimes as global Foreign Account Tax Compliance Act ("FATCA").
CRS is designed to mitigate offshore tax evasion. It is intended to provide participating jurisdictions transparency on the financial assets held offshore by their tax residents. CRS is a reporting regime and it does not impose a new taxation regime.
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What is the impact of CRS?
CRS requires financial institutions based in CRS participating jurisdictions to identify customers' tax residencies and report financial accounts held directly or indirectly by foreign tax residents to the local tax authorities in the jurisdiction where the financial institutions are based. The local tax authorities are expected to exchange this information with the relevant tax authorities in other participating jurisdictions.
To facilitate the exchange of information, participating jurisdictions must enter into Competent Authority Agreements ("CAA") which may be bilateral or multilateral. The Singapore Government has enacted legislation to allow the implementation of CRS in Singapore and has entered into bilateral CAAs with jurisdictions to facilitate the exchange of information. The complete list of CAA can be found here. The first exchange of information shall take place by September 2018.
OCBC is committed to being fully CRS compliant. With effect from 1 January 2017, we will require customers establishing financial accounts with our Bank to provide us information on their CRS statuses. We will also review our existing customer base to confirm CRS statuses of our customers and where necessary, we may have to contact our customers for further information and documentation.
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Is CRS applicable to personal or business customers?
CRS impacts both personal and business customers. Under Singapore CRS law, OCBC is required to:
- Seek customers' cooperation to identify their tax residencies; and
- Report financial accounts held directly or indirectly by customers who are foreign tax residents to the Singapore tax authority.
Customers should be aware that details of their financial assets may be made available to the tax authorities of the jurisdiction they are tax residents of.
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What is required from a customer?
In order to establish your status under CRS, we will require you to complete a Self-Certification form to declare your CRS status and tax residency and provide additional information or documentation to substantiate the declaration. The self-certification form will be available for download at www.ocbc.com/business-banking/forms.html from 1 January 2017 onwards.
Please note that you may receive more than one request for documentation if you have multiple relationships with different members of OCBC Group. It is important that you respond to all requests, even if you believe you have already supplied the requested information.
In addition, the way in which financial institutions ("FIs") collect information from their customers in order to confirm their tax status under CRS may vary. This means that, in some instances, you may be asked for documentation from OCBC that differs from other banks.
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How frequent is CRS information required?
OCBC is required to monitor, on an ongoing basis, changes to customers' CRS information.
If there is any change to the following types of account information that will impact your CRS status, you have to notify us within 30 calendar days from the date of change:
- Change in the entity's nature of business
- Change of business's country of domicile
- Change of business's country of incorporation
- Change of business's country of tax residency
- Change of business' Taxpayer Identification Number (TIN)
- Change of registered business address
- Change of registered mailing address
- Change of shareholding structure
- Change of controlling person/s
- Change of residential address/es of declared controlling person/s
- Change in tax residency of controlling person/s
- Change in TIN of controlling person/s
Where we detect changes and/or updates to account information that may potentially impact your CRS status and/or tax residency, we may also contact you to obtain additional information or documentation to verify your CRS status with the Bank.
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What will OCBC do if a customer does not provide the information required under CRS?
OCBC is committed to being fully CRS compliant. Thus, OCBC will not open new accounts or offer additional products and services to customers who choose not to comply with OCBC's requests for documentation to establish status under CRS.
OCBC may need to report information about customers who do not provide the required documentation to us to the Inland Revenue Authority of Singapore (IRAS).
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What do I do if I am unsure of my business CRS status?
Please consult your professional tax and/or legal advisors.
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Will there be withholding of taxes under CRS?
There will be no requirement for withholding of taxes under CRS.
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What if I have multiple tax residencies?
Information will be reported via IRAS to tax authorities in each jurisdiction which Singapore has signed CAA with.
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What is my tax residency?
Tax residency is defined by each jurisdiction's local tax laws and therefore the determination of tax residency for one jurisdiction may vary from that of another jurisdiction. It is possible that a person could be considered a tax resident in more than one jurisdiction.
If this may be the case for you, please check whether both jurisdictions have in place an avoidance of double taxation treaty which may attribute your tax residency exclusively to one jurisdiction.
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What are the consequences for incorrect self-certification?
Each participating jurisdiction will put in place penalties for wilful false certifications.
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Will other banks ask me to certify my tax residency?
Yes, all financial institutions in CRS participating jurisdictions are required to identify the tax residency/ies of their customers or to-be customers.
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I am a Singapore tax resident, which tax authority will my information be provided to?
For accounts opened with OCBC by Singapore tax residents, OCBC is not required to report their information under CRS. In certain circumstances, OCBC is required to collect and report information pertaining to the controlling person/s of a Singapore tax resident company.
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Will my account information in OCBC's possession be publicly available?
No, your account information held by OCBC will not be made publicly available by us. If you are a tax resident of a jurisdiction other than Singapore, OCBC may be required to report your information to the IRAS. The IRAS will then disseminate your information to the tax authorities in the jurisdiction of which you are a resident. The participating jurisdictions with which the information is exchanged are expected to have a strong rule of law to ensure the confidentiality of information exchanged and to prevent any unauthorised use.
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Will information of my trust be reportable, to whom and how?
Information reporting under CRS in the context of a trust may vary, depending on whether the status of the trust is determined to be a financial institution or a passive non-financial entity under CRS. The settlor, trustee, protector, beneficiaries and/or any other natural person having control over the trust may be reported. Please refer to table 7 and table 8 of the OECD handbook for a snapshot of the financial activity to be reported in case of a trust.
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If I am a resident of a non-CRS participating jurisdiction, will my information still be collected and report to the IRAS?
Singapore has adopted the wider approach to CRS compliance and this wider approach requires Financial Institutions to collect information from all customers who are non-Singapore tax residents. However, OCBC will only report information of customers who are tax residents of a jurisdiction which has signed a bilateral CAA with Singapore.
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What happens if I don't have a taxpayer identification number ("TIN")?
There are only two exceptions in which TIN is not required to be collected or reported:
- TIN is not issued by the jurisdiction where you are tax resident in*; and
- Domestic law of the jurisdiction where you are resident in does not require the collection of such TIN.
* TIN is considered not to be issued by a jurisdiction where (a) the jurisdiction does not issue a TIN to its residents, or (b) the jurisdiction has not issued a TIN to a particular individual or entity.
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Will real estate property be reportable?
Generally, only information pertaining to Financial Accounts is reportable. Under CRS, Financial Accounts do not include a non-debt, direct interest in real estate property. However, shares or units in a real estate investment trust would generally be considered Financial Accounts.
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If I have a joint account, what is the amount to be reported for me?
Each holder of the joint account is attributed the entire balance or value of the account as well as the entire amounts paid or credited to the joint account. Accordingly, the entire amount in the joint account will be reported for you.
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What will be reported - the gross account balance or the net balance after deducting loans granted by OCBC?
Gross account balance will be reported.
You may download the Self-Certification forms to declare your tax status from 1 January 2017 onwards.
Disclaimer
Please note that OCBC is unable to provide any tax advice. In case of uncertainty with respect to your tax residency or CRS classification, please consult professional tax and/or legal advisor/s or refer to the OECD website and the Inland Revenue Authority of Singapore ("IRAS") website for more information.
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Australia
Effective 1 July 2017
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Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- ithdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of interest, dividends and other income generated with respect to the assets held in the account, in each case paid or credited to the account or with respect to the account;
- ) the total gross proceeds from the sale or redemption of property paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
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Tax Compliance Provisions
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Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where the Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
Hong Kong
Effective 1 January 2017
-
Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of dividends paid or credited to the account;
- the total gross amount of other income generated with respect of the financial assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of financial assets paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.
"Controlling Person" includes any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term includes the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term includes persons in equivalent or similar positions. The term "Controlling Person" may be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity may be deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services" in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, self-certification, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
-
Tax Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, whether it is controlled by any Controlling Person, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure any Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with any of its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with any of OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where any Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide or to continue to provide Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with the Customer;
- without notice to the Customer and/or any Controlling Person, provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy, unless such costs or loss is caused by the negligence of OCBC Bank;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, has obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank from time to time.
-
General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modifications of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide and are unable to advise Customers and/or Controlling Persons regarding any tax or legal matters, including without limitation the US federal income tax, or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
Japan
Effective 1 January 2017
-
Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of interest, dividends and other income generated with respect to the assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of property paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore or Japan.
"Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services" in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
-
Tax Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with any of its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with any of OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where any Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Singapore law or Japanese law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with the Customer;
- provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
Taiwan
Effective 1 January 2019
-
Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of dividends paid or credited to the account;
- the total gross amount of other income generated with respect of the financial assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of financial assets paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Taiwan.
"Controlling Person" includes any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term includes the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term includes persons in equivalent or similar positions. The term "Controlling Person" may be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity may be deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services" in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, self-certification, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
-
Tax Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, whether it is controlled by any Controlling Person, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure any Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with any of its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with any of OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where any Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Taiwan law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide or to continue to provide Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with the Customer;
- without notice to the Customer and/or any Controlling Person, provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy, unless such costs or loss is caused by the negligence of OCBC Bank;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, has obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank from time to time.
-
General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modifications of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide and are unable to advise Customers and/or Controlling Persons regarding any tax or legal matters, including without limitation the US federal income tax, or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
Thailand
Effective 31 March 2023
-
Definitions and Interpretation
In this CRS Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of interest, dividends and other income generated with respect to the assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of property paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" means any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.
”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Thailand.
"Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.
"CRS" means the Common Reporting Standard or the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited and shall include its branches, successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
-
Tax Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with OCBC Bank's requirements set out in 2.1 or 2.2 above; or
- where the Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Thai law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this CRS Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this CRS Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this CRS Policy and the Customer must inform each Controlling Person of OCBC Bank's powers under this CRS Policy;
- this CRS Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this CRS Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
Korea
Effective 16 January 2017
Disclosure of Financial Account Information Policy
-
Definitions and Interpretation
In this DOFAI Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation (and if applicable):
- the account number;
- account balance or value;
- currency denomination;
- gross receipts;
- withdrawals and payments to or from the account;
- the total gross amount of interest paid or credited to the account;
- the total gross amount of interest, dividends and other income generated with respect to the assets held in the account, in each case paid or credited to the account or with respect to the account;
- the total gross proceeds from the sale or redemption of property paid or credited to the account; and
- the total gross amount paid or credited to the Customer with respect to the account, including the aggregate amount of any redemption payments made to the Customer.
"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Bank: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS and FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside the Republic of Korea("Korea").
"CRS" means the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information signed by the Government of the Korea on 29th October 2014 in relation to agreements with the participating jurisdictions from time to time to improve international tax compliance based on the standard for automatic exchange of financial account information developed by the Organisation for Economic Co-Operation and Development and any implementing regulations and any official instruction or guidance of any Authority whether within or outside Korea.
"Controlling Person" means any natural person (including individuals holding 25% and more of the equity of an entity) who exercises ultimate effective control over an entity or trust. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. Controlling Person also includes actual owner pursuant to the Article 5-2 (1) 1. of the Law on Reporting and Using Specified Financial Transaction Information.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"DOFAI" means disclosure of financial account information pursuant to, but not limited to, CRS and FATCA.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended from time to time and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside Korea.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited acting through its Seoul branch and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Bank may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons or (if applicable) such other information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Bank in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.
-
Tax Withholding and Compliance Provisions
-
Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
- The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Bank reasonably considers it appropriate.
-
Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
-
Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or
- where any Controlling Person fails to comply with OCBC Bank's requirements set out in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Controlling Person) is inaccurate, incomplete, misleading or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under Korean law or otherwise) from disclosing of the Tax Information of the Customer and/or any other Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- Deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Controlling Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any of Controlling Person to an Authority in any jurisdiction.
-
-
Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this DOFAI Policy, has received adequate explanation, and understands the implications of this DOFAI Policy by which the Customer irrevocably agrees to be bound;
- any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this DOFAI Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this DOFAI Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this DOFAI Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this DOFAI Policy; and the Customer must inform each Controlling Person of OCBC Bank's powers under this DOFAI Policy;
- this DOFAI Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Bank.
-
General
- In the event of any conflict or inconsistency between any of the contents of this DOFAI Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this DOFAI Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this DOFAI Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this DOFAI Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this DOFAI Policy in that jurisdiction.
- It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this DOFAI Policy. OCBC Bank do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.
-
-
UK
Disclosure of Financial Account Information Policy
-
Definitions and Interpretation
In this DOFAI Policy, the following capitalised terms have the following meaning:
"Account Information" means any information relating to any account of a Customer with OCBC Bank including without limitation the account number, account balance or value, and gross receipts, withdrawals and payments to or from the account.
"Applicable Laws and Regulations" means obligations of OCBC Bank to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Bank and any government or taxation authority in any jurisdiction; and including but not limited to CDOT, CRS, DAC and FATCA.
"Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside the United Kingdom.
"CDOT" means the International Tax Compliance (Crown Dependencies and Gibraltar Regulations 2014 (S1 2014/520) as amended from time to time and any related official instruction or guidance of any Authority.
"CRS" means the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information signed by the Government of the United Kingdom of Great Britain and Northern Ireland on 29th October 2014 in relation to agreements with the participating jurisdictions from time to time to improve international tax compliance based on the standard for automatic exchange of financial account information developed by the Organisation for Economic Co-Operation and Development and any implementing regulations and any official instruction or guidance of any Authority whether within or outside the United Kingdom.
"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Bank in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Bank.
"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.
"Customer" means the Person who has a relationship with OCBC Bank in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.
"DAC" means the Directive on Administration Cooperation in Tax Matters (Council Directive 2011/16/EU (as amended from time to time)) and any implementing regulations and any official instruction or guidance of any Authority of the United Kingdom or any other EU jurisdiction.
"DOFAI" means disclosure of financial account information pursuant to, but not limited to, CDOT, CRS, DAC and FATCA.
"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended from time to time and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside the United Kingdom.
"OCBC Bank" means Oversea-Chinese Banking Corporation Limited acting through its London branch and shall include its successors and assigns.
"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.
"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Bank may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency or (if applicable) such information as OCBC Bank may reasonably require regarding each of its substantial shareholders and controlling persons.
"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of bank accounts; (ii) the issuing, maintaining, administering and terminating of insurance policies; (iii) the provision of any banking or financial services and products (including without limitation, private banking services, credit facilities, credit card services, loans, brokerage, investment banking services, corporate finance services, provision of mezzanine capital, capital market services, services in respect of treasury products and financial derivatives transactions); (iv) relationship maintenance between OCBC Bank and the Customer (including without limitation marketing and promoting banking or financial services or products); and (v) any other acts or materials of OCBC Bank ancillary to, in furtherance of or in connection with any of the (i) to (iv) above (including without limitation research and analysis).
"Substantial Owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own 25% or more of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own 25% or more of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly 25% or more of the beneficial interests of the trust.
"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Bank may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.
-
Tax Withholding and Compliance Provisions
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Provision of Information
- The Customer must provide OCBC Bank with the Customer's Personal Information, and where reasonably required by OCBC Bank, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Bank may from time to time require.
- When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Bank promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
- The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Bank may reasonably require from time to time for purposes of OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer agrees that OCBC Bank may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Bank reasonably considers it appropriate.
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Disclosure of Information
- The Customer agrees that OCBC Bank may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Bank's compliance with Applicable Laws and Regulations.
- The Customer waives, and, where reasonably required by OCBC Bank, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Bank's ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
- The Customer agrees that OCBC Bank may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Bank reasonably considers it appropriate.
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Failure to Provide Information
The Customer agrees that:
- where the Customer fails to comply with its obligations under 2.1 above; or
- where any of the other Consenting Persons fails to comply with OCBC Bank's requirements in 2.1 or 2.2; or
- where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
- for whatever reason OCBC Bank is prevented (under United Kingdom law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,
OCBC Bank may take one or more of the following actions at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations:
- deduct from or withhold part of any amounts payable by OCBC Bank to the Customer and/or any other Consenting Person;
- refuse to provide new Services to the Customer;
- terminate the Customer's account(s) with OCBC Bank;
- discontinue entirely or in part OCBC Bank's relationship with Customer;
- provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.
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Customer Confirmations
By using or accepting the Services, the Customer confirms and agrees that:
- without prejudice to the applicable terms and conditions governing the relationship between OCBC Bank and the Customer, the Customer confirms that the Customer has read this DOFAI Policy, has received adequate explanation, and understands the implications of this DOFAI Policy by which Customer irrevocably agrees to be bound;
- any agreement, waiver, confirmations given in, or to be given pursuant to, this DOFAI Policy is irrevocable;
- OCBC Bank is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Bank taking any actions permitted by or exercising any powers under this DOFAI Policy;
- any withdrawal or payment amount made by OCBC Bank pursuant to any Services shall be subject to this DOFIA Policy;
- the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Bank and the disclosure of any of such Tax Information by OCBC Bank under this DOFAI Policy; the Customer must inform each Consenting Person of OCBC Bank's powers under this DOFAI Policy;
- this DOFAI Policy is without prejudice, and in addition, to OCBC Bank's rights or powers under the terms and conditions governing the relationship between Customer and OCBC Bank.
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General
- In the event of any conflict or inconsistency between any of the contents of this DOFAI Policy and other terms and conditions that govern the Customer's relationship with OCBC Bank, this DOFAI Policy shall prevail.
- Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Bank (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Bank may amend, update, and revise this DOFAI Policy unilaterally at any time as may be required by OCBC Bank to ensure its compliance with Applicable Laws and Regulations.
- If all or any part of this DOFAI Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this DOFAI Policy in that jurisdiction.
- It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this DOFAI Policy. OCBC Bank does not provide tax or legal advice and is unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.
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