Personal foreign exchange income can only be processed after filing with the foreign exchange bureau.

As early as the 1990s, personal certification materials were needed for each settlement or purchase of foreign exchange, which brought a lot of inconvenience to everyone.

After the promulgation of the "Detailed Rules for the Administration of Personal Foreign Exchange" in 2007, the non-operating foreign exchange settlement and sale business under personal current account was subject to annual gross management. Within the annual total, individuals can apply directly to the bank with valid identity documents.

foreign exchange

The convenient quota for individual settlement of foreign exchange and domestic individual purchase of foreign exchange is equivalent to 50,000 US dollars per person per year respectively.

note:

If the foreign exchange of domestic personal current account is remitted abroad on the same day and the accumulated expenditure exceeds 50,000 US dollars, it shall be handled with the authenticity certificate of the transaction amount under the current account. Individual capital's foreign exchange business shall comply with relevant foreign exchange management regulations.

In handling all kinds of foreign exchange business, we must abide by the relevant laws, regulations, policies and regulatory requirements of foreign exchange management and the internal control provisions of banks according to the business situation. What is shown here does not represent all situations. For details, please contact HSBC China Branch.

What if there are not enough places?

The wrong way.

Can I ask some relatives and friends to help me buy it?

The correct way

At present, China does not restrict the purchase and settlement of foreign exchange under the current account with real and legitimate needs.

If it exceeds the facilitation quota of 50,000 US dollars, it will be handled in the current account bank with my valid identity certificate and real use certificate.

Deal with the settlement and sale of foreign exchange under the current account, buy as much as you want, and settle foreign exchange if you want, as long as you really need it.

Current account and capital account

current deposit account

Operating foreign exchange (mainly refers to trade foreign exchange receipts and payments, which are handled through personal foreign exchange settlement accounts)

Non-operating foreign exchange (tourism, study abroad, medical care, etc.). )

▍ Capital account

Immigration: such as the transfer of immigration property (handled in accordance with relevant laws and regulations on asset transfer).

Securities investment: such as direct purchase of overseas commodity futures or financial derivatives (it should be handled through domestic financial institutions with corresponding business qualifications according to relevant regulations).

Direct investment: such as domestic individuals' equity contribution to overseas companies (SAFE conducts overseas investment and financing and related foreign exchange management through special purpose companies).

Insurance: such as purchasing overseas life insurance and annuity insurance with dividend income. (At present, the foreign exchange management policy is not yet open)

Other individual capital projects

Note: The capital account is managed according to the convertibility procedure. At present, the foreign exchange management policies of some individual capital projects, such as life insurance and dividend insurance for return on investment purchased by domestic individuals abroad, and overseas house purchase by domestic individuals, have not been opened, and banks will not handle related foreign exchange settlement and sales and foreign currency receipt and payment business for the time being. Please refer to relevant laws and regulations or consult HSBC China Branch for specific business.

Personal foreign exchange settlement and sale business

▍ Personal settlement:

It refers to the behavior that individual residents sell the foreign exchange income obtained from abroad, which is fully owned and freely disposed of, to designated foreign exchange banks or chartered currency exchange institutions, and the designated foreign exchange banks or institutions pay the equivalent RMB at the exchange rate on the transaction day.

▍ Personal purchase of foreign exchange:

It refers to the behavior that individual residents buy foreign exchange from banks for overseas payment, and designated foreign exchange banks sell foreign exchange to foreign exchange users and charge the equivalent RMB according to the RMB exchange rate on the transaction day.

▍ Annual calculation:

The so-called "year" refers to a calendar year, that is, from 65438+ 10/to 65438+February 3 1 every year. The annual total amount shall not be used across the Gregorian calendar year, and those unused or not used up in the previous year shall not be carried forward to the next year.

▍ Application for individual domestic residents to purchase foreign exchange:

Fill in the requirements

Category VIII uses: private travel/studying abroad/going abroad for business and business/visiting relatives/overseas medical treatment/trade in goods/non-investment insurance/consulting services/others.

Individuals should declare the purpose of purchasing foreign exchange, the estimated time of using foreign exchange and other information completely and truly at the counter or through electronic channels, and promise to bear corresponding legal responsibilities.

"Six noes" (violators: being included in the "watch list" and transferred to the anti-money laundering investigation, subject to administrative punishment according to law and included in personal credit records)

No false declaration of personal foreign exchange purchase information;

Shall not provide false certification materials;

Do not lend your own convenience bank to help others purchase foreign exchange;

Do not borrow other people's convenient lines to implement split purchase of foreign exchange;

It shall not be used for overseas capital projects such as buying houses, investing in securities, buying life insurance, and investing in dividend return insurance;

Do not participate in illegal activities such as money laundering, tax evasion, and underground banking transactions.

Foreign currency cash deposit and withdrawal

▍ Deposit:

If the accumulated value of foreign currency cash deposited by an individual on the same day is less than US$ 654.38+00,000 yuan (inclusive), it shall be handled in the bank with my valid identity certificate; Those who exceed the above amount shall go to the bank with their valid identity documents, customs declaration forms signed by the customs or foreign currency cash withdrawal vouchers of the original bank.

▍ Withdrawal:

Individuals who withdraw foreign currency cash on the same day with a cumulative equivalent of less than US$ 654.38+US$ 00,000 (inclusive) shall go to the bank with their valid identity documents; Individuals leaving the country for countries (regions) where there is a war, strict foreign exchange control, poor financial situation or financial turmoil, and it is really necessary to withdraw foreign currency cash equivalent to 10000 or more, they should report to the foreign exchange bureau where the bank is located in advance with their valid identity documents, withdrawal purposes and other materials. The bank shall go through the formalities for withdrawing foreign currency cash for individuals with my valid identity certificate and the Record Form for Withdrawing Foreign Currency Cash signed by the foreign exchange bureau (see Annex 7).

The filing form for withdrawing foreign currency cash issued by the foreign exchange bureau is valid within 30 days from the date of issuance and cannot be reused.

Tips for Personal Foreign Exchange Business

When handling personal foreign exchange business, it is not allowed to evade quota supervision by splitting, and it is not allowed to evade authenticity management by false commercial documents or vouchers.

The current account is convertible, and the capital account is handled in accordance with relevant regulations.

Individuals are required to submit valid identity documents and relevant certification materials for the bank to verify the authenticity.

Do not borrow quotas from others or lend personal quotas to others for use.

It is not allowed to evade quota supervision by splitting, etc.

According to Article 68 of the Guidelines for Foreign Exchange Business under Current Account:

When handling personal current account foreign exchange business, banks should reasonably examine the authenticity of transaction documents and their consistency with foreign exchange receipts and payments.

Banks can independently decide the types, forms and audit points of audit vouchers according to their personal risk status to ensure the authenticity and compliance of transactions.

Banks have the right to refuse transactions that violate foreign exchange control regulations and have doubts about their authenticity. For businesses that refuse to handle, banks should accurately explain the reasons for refusal and appeal channels to individuals.