How can a PRC national send more than 50K out of China?
- Joined: Aug 4th, 2006
- Posts: 77
The banks have told a PRC friend of mine that they can only send up to 50K USD equivalent out of China per year. My question is how are PRC nationals picking up big ticket items like apartments, cars and other items? Is there some PRC regulation or loophole that allows PRC nationals to send funds out? Anyone have any experience with this?
bcomplex
Re: How can a PRC national send more than 50K out of China?
your friend needs special permission from 外汇管理局
coco-nuts
Re: How can a PRC national send more than 50K out of China?
What is the process for making this request for approval? Who to see? Where to go?
gdbill
Re: How can a PRC national send more than 50K out of China?
State Administration of Foreign Exchange
http://www.safe.gov.cn/model_safe_en/index.jsp
But I seriously doubt anybody would go through all the red tape when they can get everybody in their family together and each one buys and sends $50k abroad.
"Truth is not a commodity in short supply: The problem is, there's very little demand for it." -- ???
slonios
Re: How can a PRC national send more than 50K out of China?
the government allows overseas investment or purchasing behavior,but need to give the application to them.
If for personal remittance,I recommend you to check PingTen.com.a convenient way to send money out of PRC---legally,of course.