How do overseas Chinese remit the money from selling houses back to China?

After the overseas Chinese sell their houses, they can remit the money in the houses back to China. The following are the specific steps:

1. Prepare sales contracts, transaction tax forms, identity documents (such as Taiwanese certificates) and other documents. If the house is owned by more than one person, all the owners need to be present and provide identification documents.

2. Apply to the local tax authorities for foreign payment tax declaration. The tax authorities shall examine the application and issue the Tax Filing Form for Foreign Payment of Service Trade and Other Items.

3. Send money to the bank with the filing form and other relevant information. The bank will conduct an audit according to the regulations of the State Administration of Foreign Exchange to ensure that the remittance complies with relevant regulations.

It should be noted that according to the regulations of the State Administration of Foreign Exchange, the application for foreign exchange purchase is only allowed to be remitted once, and the remaining amount will be regarded as not remitted and cannot be remitted again. Therefore, when applying for remittance for house purchase and sale, you need to apply for all the money that should be remitted at one time.

In addition, the income from real estate sales must comply with the relevant laws and regulations of our country and shall not be used for illegal activities.