I want to immigrate to America. Can I transfer all my property through formal channels? Will it be allowed in China?

On February 1, the central bank implemented the Interim Measures for the Administration of Foreign Exchange Sale and Payment of Personal Property.

Private legal property can be transferred abroad.

● The outward transfer of personal property includes two types: one is the transfer of immigrant property; The second is the transfer of inherited property.

● Transfer must be applied to the foreign exchange administration department of the original residence of the immigrant or the residence of the deceased.

● "One-time application and step-by-step remittance" If the transfer of immigrant property exceeds RMB 200,000 (including RMB 200,000), the method of "one-time application and step-by-step remittance" shall be adopted.

● If the application amount exceeds the equivalent of RMB 500,000 (including RMB 500,000), it must be reported to the State Administration of Foreign Exchange for approval.

Applicants include:

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.

Transfer 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.

Transfer over 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.