NRA Account (Non-resident Account)

NRA account (Non-resident Account) refers to an overseas institution's domestic account, which is a foreign currency or RMB account opened by an overseas institution with a domestic bank. This account is mainly used for fund receipt, payment, and settlement when overseas institutions conduct cross-border trade, investment, and financing activities within China. Use cases include: overseas companies paying suppliers in China, receiving export payments from China, and conducting foreign exchange derivative transactions. Notes: Funds in an NRA account are treated as overseas funds, and transfers between an NRA account and domestic accounts must comply with cross-border fund flow regulations; account receipts and payments must be based on genuine trade backgrounds and may not be used for arbitrage or illegal foreign exchange settlement and sale; RMB NRA accounts and foreign currency NRA accounts are governed by different rules. Compared with OSA accounts (Offshore Accounts), NRA accounts are opened with domestic banks and are subject to domestic supervision; compared with FT accounts (Free Trade Accounts), NRA accounts mainly serve non-residents and have relatively limited functions. Foreign trade practitioners need to pay attention to the latest SAFE policies on NRA accounts to ensure compliant use.