What are the regulations on the transfer of personal property abroad in China?

I. Provisions on the applicant:

Before obtaining immigration status, natural persons who emigrated or settled in Hong Kong and Macao Special Administrative Regions from the mainland of China may apply for realizing their lawful property in China and purchasing foreign exchange for remittance abroad.

Foreign citizens and residents of Hong Kong and Macao Special Administrative Regions may apply for realizing the legally inherited domestic heritage and purchasing foreign exchange for remittance abroad. These Measures shall apply mutatis mutandis to the transfer of personal property to Taiwan Province Province.

Second, the provisions of the property transfer:

1, transferred more than 200,000 yuan:

In order to prevent the balance of payments risks that may be caused by the transfer of a large number of personal property, the Interim Measures require that the transfer of immigrant property exceeding a certain amount (equivalent to 200,000 yuan) must be "applied once and remitted step by step", and at the same time, graded approval should be set according to the amount of application.

In addition, in extraordinary times, the People's Bank of China can adjust the limit of personal property transfer and remittance frequency according to the international balance of payments.

2. Transfer more than 500,000 yuan:

The transfer of personal property to the outside world shall be uniformly applied to the foreign exchange administration department of the original residence of the immigrant or the residence of the decedent before his death. If the application amount is less than the equivalent of 500,000 yuan, it shall be examined and handled by the branches and sub-bureaus of the State Administration of Foreign Exchange (Foreign Exchange Management Department); If the equivalent amount is more than 500,000 yuan (including 500,000 yuan), all branches (foreign exchange management departments) shall report to the State Administration of Foreign Exchange for examination and approval after preliminary examination.

Extended data:

Personal property transfer in China mainly includes immigration transfer and inheritance transfer.

1, regulations on migration:

Applicants need to apply to the foreign exchange administration branch and the foreign exchange administration department (hereinafter referred to as the local foreign exchange bureau) where the immigrants are originally registered; The applicant shall apply to the foreign exchange bureau where the decedent was registered before his death for inheritance and transfer. The central branch of the State Administration of Foreign Exchange where the applicant is located may accept the application materials on his behalf.

The total amount of property that immigrants must apply for transfer out of the country at one time shall be remitted step by step. The amount that can be remitted for the first time shall not exceed half of all the property applied for transfer; One year after the first remittance, no more than half of the remaining property can be remitted; After two years from the first remittance, all the remaining property can be remitted. (A small amount of immigration transfer can be remitted once approved. )

If all the properties applied for transfer are less than RMB 200,000 (including RMB 200,000), they can be remitted once approved.

2. Provisions on succession and transfer:

If all the property inherited from the same decedent is transferred out of the country after being realized, it must be applied for once, remitted in one time or by stages. Property inherited by heirs from different decedents shall be separately applied for and remitted.

The application for external transfer of property can be handled by myself or by others. Where an agent is entrusted to another person, an agency agreement signed by the applicant and the agent shall be submitted.

If the total amount of property applied for foreign transfer is less than 500,000 yuan (including 500,000 yuan), it shall be examined and approved by the local foreign exchange bureau. After approval, the local foreign exchange bureau shall issue the approval reply and approval documents to the applicant, and the applicant shall go through the formalities of purchasing and paying foreign exchange at the local designated foreign exchange bank with the approval documents.

If it exceeds the above amount, it shall be submitted to the State Administration of Foreign Exchange for examination and approval after preliminary examination by the local foreign exchange bureau. The local foreign exchange bureau shall issue the approval reply and approval document to the applicant with the approval document of the State Administration of Foreign Exchange, and the applicant shall go through the formalities of purchasing and paying foreign exchange at the local designated foreign exchange bank with the approval document.

After handling the sale of foreign exchange, the designated foreign exchange bank shall directly remit foreign exchange to the account of the applicant in the country or region where the immigrant or heir lives, and shall not withdraw foreign currency cash within the territory.

References:

China government network-what are the regulations on the transfer of personal property abroad in China?