Is it illegal to transfer billions of private assets abroad?

It is definitely illegal to transfer billions of private assets without permission.

According to the Interim Measures for the Administration of Foreign Transfer, Sale and Payment of Personal Property

Article 5 An applicant shall apply to the foreign exchange administration branch and the foreign exchange administration department (hereinafter referred to as the local foreign exchange bureau) where the immigrant's original household registration is located. 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.

Article 6 When immigrants transfer, the total amount of property that needs to be transferred 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; After the first remittance of 1 year, the remaining property cannot be remitted more than half; After 2 years from the first remittance, all the remaining property can be remitted. If all the properties applied for transfer are less than RMB 200,000 (including RMB 200,000), they can be remitted once approved.

If all the property inherited from the same decedent is to be transferred out of the country after being realized, it must be applied in one lump sum, and it can be remitted 1 time or by stages. Property inherited by heirs from different decedents shall be separately applied for and remitted.

Article 7 An application for transferring property abroad may be handled by itself or by entrusting others.

Extended data:

According to the Interim Measures for the Administration of Foreign Transfer, Sale and Payment of Personal Property

Article 8 An applicant applying for immigration transfer shall submit the following materials to the local foreign exchange bureau:

1. Written application. The contents include: the reasons for applying for immigration transfer; A detailed description of the source of property income and the realization of property.

Two, signed by the applicant himself "immigration property transfer applicant form".

Three, signed by the applicant or his agent "personal property transfer foreign exchange business application form".

Four. Identification documents of the applicant.

Immigrants should provide the cancellation certificate of China household registration issued by the public security organ and the certificate of the applicant's going abroad to settle down issued or certified by the China embassy or consulate abroad.

To settle in the Hong Kong Special Administrative Region or the Macao Special Administrative Region, a certificate of cancellation of household registration in the Mainland issued by the public security organ, a resident identity card of the Hong Kong Special Administrative Region or the Macao Special Administrative Region, a home visit permit or a SAR passport shall be submitted.

Five, the applicant's property certificate. Such as a copy of the house property right certificate, a real estate sales contract or a demolition compensation and resettlement agreement.

6. Tax payment certificate or tax payment certificate issued by the competent tax authorities of the place where the application for transfer of property is located or the source of income.

Seven, other information required by the foreign exchange bureau.

If the applicant remits funds after the second time (including the second time), it is required to submit the approval issued by the local foreign exchange bureau to the applicant at the time of the applicant's previous remittance 1 time and the approval document for foreign exchange business of capital account issued by the local foreign exchange bureau (hereinafter referred to as the "approval document"), and apply to the foreign exchange bureau at the original approval place for approval of foreign exchange purchase and remittance.

If it is entrusted to others, it is also necessary to provide an agency agreement and the identity certificate of the agent. If the principal-agent agreement and relevant property rights certificates have not been notarized, they shall be notarized.

Baidu Encyclopedia-Interim Measures for the Administration of External Transfer, Sale and Payment of Personal Property