China people buying a house in Canada are not restricted by overseas remittance of $50,000.

Canada is a highly developed American country with perfect economic system and high welfare benefits, and it is also one of the most attractive countries for immigrants in the world. Everyone can buy a house in Canada, but there is a limit for foreigners to remit 50 thousand dollars overseas every year. Here is a strategy to break this restriction.

For many new immigrants who emigrate overseas and want to take root overseas, how to transfer large sums of money from China to overseas is really the most troublesome thing.

In other words, in recent years, the State Administration of Foreign Exchange has become more and more strict in controlling the purchase of foreign exchange, and many overseas Chinese have broken their hearts to exchange foreign exchange.

Canada has always been the final destination of many China people, and landing is easy. Some people want to use their domestic savings to buy a house here, while others want to invest in business. But looking at the annual foreign exchange purchase limit of no more than $50,000, there is nothing they can do. As we all know, China has strict foreign exchange export control, and all kinds of foreign exchange methods commonly used by China people in the past are now completely banned, and each person can only exchange US$ 50,000 for entry every year.

Some people even take risks to turn their money around. However, with the strengthening of national investigation and punishment in recent years and the closer division of global information, the risks of such operations are increasing!

1. Go underground.

This method is undesirable and illegal, and it is not recommended for everyone to do so. From September 20 16 to September 0 10, Chu, a native of Henan, planned to transfer domestic assets to his Canadian account. Because the total amount was as high as 30 million yuan, he illegally chose an underground bank. First, the money was transferred to the domestic account controlled by the underground bank for three times, and then the foreign exchange was remitted to its Canadian account through the underground bank, totaling 59 10000 Canadian dollars.

In the end, the incident happened. According to Article 45 of the Regulations on Foreign Exchange Control, the police fined him RMB 654.38+RMB 9500.

2. ants can move.

This is also an illegal operation, which is neither desirable nor recommended. From 2008 10 to April, 65,438, Jiang, a China native, borrowed 55 people's annual foreign exchange purchase quota and remitted his personal funds to his account in Hong Kong in the name of traveling at his own expense, totaling 2,693,800 US dollars. After investigation, the police imposed a fine of RMB389,700.

Previously, from July, 200015 to June, 200016, another Chinese national, Song, split his personal funds, purchased foreign exchange, remitted it to his overseas account, and transferred funds of 3,492,700 US dollars. After the incident, he was fined 683,000 yuan.

It is reported that in the first half of last year alone, 1,354 cases of foreign exchange violations were investigated and dealt with, and a fine of 345 million yuan was imposed.

With such great efforts, it is no wonder that overseas Chinese have been talking about it. Is it impossible to legally transfer property abroad from now on?

That's not true. There is actually another legal way.

So, what is this last chance to live?

Many people may not know it, but they are going.

At the beginning of 2000, China's foreign exchange policy was quietly adjusted, and it began to provide overseas Chinese with the opportunity to legally transfer assets.

According to the latest Interim Measures for the Administration of Foreign Exchange on the Transfer, Sale and Payment of Personal Property issued by the People's Bank of China, legal immigrants in China can now go through relevant legal procedures, remit a large sum of money exceeding US$ 50,000 abroad, realize the legal property they owned in China before obtaining immigration status, and remit it through designated foreign exchange banks!

That is:

1. As a Canadian permanent resident with China nationality, the policy of "individual cross-border remittance of 50,000 Canadian dollars per year" can be exempted.

This legal way must go through complicated application and approval procedures.

To put it bluntly, overseas Chinese can legally transfer large domestic assets abroad!

What is the legal way?

Get overseas status!

Regarding the definition of this overseas status, according to the Interim Measures for the Administration of Overseas Transfer, Sale and Payment of Personal Property, the following three categories of people can directly apply for the transfer of all personal assets abroad:

1. Natural persons who emigrated abroad

In short, China citizens have obtained the permanent residency in overseas countries, including Hong Kong, Macao and Taiwan, which is commonly referred to as PR in chinese canadians, so you are entitled to legally transfer large assets!

Let's take a look at the official explanation, the requirements of the transferee of large assets:

1. You must be a China citizen or a foreigner who has obtained permanent residency abroad (including residents who have emigrated from the mainland of China or settled in Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Province Province).

2. It is necessary to sell the real estate held in China (the house price can be converted into foreign exchange at one time and transferred to the overseas bank account of the party concerned), and other securities and real estate can be sold before applying for asset transfer.

3. The transferred property shall be legal property, and there shall be no dispute with others.

4. Successful applicants are not allowed to withdraw foreign currency cash in China. Foreign exchange must be directly remitted to the account of the applicant in the country or region where the immigrant or heir lives.

5. All China citizens who immigrate to other countries and regions legally have only one chance to apply to SAFE for the transfer of their immigrant property.

Then, most importantly, all qualified. What should I do if I want to remit money?

You must do the following.

Application materials:

1. Identity documents (ID card, household registration book, permanent residence permit, etc. )

2. The Embassy of China issued (or certified) that the applicant has obtained permanent residence status abroad.

3. Proof of overseas residence, such as driver's license and bank statement.

4. Bank deposit tax payment certificate

5. A copy of the original title certificate (before selling the house), the original tax bill and tax payment certificate of the tax bureau when selling the house, and a copy of the new title certificate after the transfer.

6. Stock house sales contract (online signing contract). It should be noted that the full price of the house refers to the contract price and the duty-paid price, and the settlement of foreign exchange can only be calculated at the verifiable price.

7. If you entrust others to handle the transfer of assets, you should provide the agency agreement (original, without notarization) and a copy of the agent's identity certificate.

8. Designate remittance and receiving banks. In this regard, it is necessary to communicate with the domestic remittance bank in advance whether it can handle the remittance business of immigrant property transfer, whether the overseas remittance bank can receive overseas remittance, and whether the account supports remittance currency. The names of the remittance account and the remittance account belong to the same applicant.

Special considerations:

1. It will take about 20 working days to complete the application materials.

2. Don't miss the call at this time, because the remittance business must be completed within 15 natural days from the date of approval, otherwise it will not be overdue.

3. No second application is allowed.

4. If the application for permanent residence abroad is not applicable, those who have obtained permanent residence abroad but are still domestic tax residents should be cautious.

Domestic real estate transactions shall be registered in the housing management department, and the amount of foreign exchange purchased shall not exceed the selling price of the house.

6. Immigrants must apply to transfer all assets out of the country at one time and remit them gradually. The amount of the first remittance shall not exceed half of the total assets to be transferred. One year after the first remittance, they can remit no more than half of the remaining assets. Two years after the first remittance, they can remit all the remaining assets. If the assets do not exceed RMB 200,000 (including RMB 200,000), you can apply for one-time remittance.

Note: All China citizens who have legally immigrated to other countries and regions have only one chance to apply to SAFE for the transfer of immigrant property.