In the future, the way of raising foreign exchange to buy a house abroad may be rejected

To raise $500,000 to buy a house in America, you need to borrow 10 ID cards. In the future, this way of "ants moving" is likely to be rejected. Some media confirmed from intermediaries that SAFE recently issued new regulations, requiring banks to be alert to possible spin-off transactions. According to expert analysis, the activity of overseas buyers in China may be affected in the short term.

Case: C $400,000 for family emergency.

"It's too dangerous. If it is a week late, we can't buy a house in Canada. " Ms. Ma said in an interview with the media that she was lucky at that time.

This summer, Ms. Ma's family decided to send their children to study in Canada. At first, she planned to rent a house in the local area to accompany her. After being introduced by a friend, she temporarily changed her mind and finalized an educational property in the community where the school is located, which can not only make the children live comfortably, but also serve as an asset to wait for future appreciation.

Because the plan to buy a house overseas is a bit hasty, she must raise about 400 thousand Canadian dollars in a short time. However, according to China's foreign exchange management regulations, each person can exchange up to $50,000 per year. As a last resort, she mobilized relatives and friends around her to help exchange money.

"At that time, the intermediary said that China people bought houses overseas by exchanging foreign exchange with relatives and friends to make up cash. The procedure is not difficult. " However, in practice, Ms. Ma discovered that things were not simple. Different banks have different regulations on foreign exchange purchase and remittance, including a remittance of 60 thousand Canadian dollars, which went to the bank three times before and after.

Ms. Ma said that at the moment of making up the house payment, she originally complained about tossing back and forth. Who would have thought that a week later, she heard from a friend that the behavior of continuous remittance and withdrawal in such a short time has been drawn into the list of concerns. "After hearing about it, all that remains is happiness."

"ants moving" will face the risk of rejection.

Ms. Ma mentioned a new regulation of SAFE recently.

According to media reports, SAFE recently issued a document asking banks to be alert to possible spin-off transactions and refuse to apply for foreign exchange purchase if necessary. According to the document, five or more different individuals remit foreign exchange to the same person or institution abroad after purchasing foreign exchange on the same day, every other day or for several consecutive days; Individuals withdraw foreign currency cash close to the equivalent of $65,438+0,000 yuan from the same foreign exchange savings account for more than 5 times within 7 days; The same person transfers the deposits in his foreign exchange savings account to more than five immediate family members, etc. , can be defined as the behavior of individual split settlement and sale of foreign exchange.

This also means that the "ant moving" cash purchase method, which people often use when buying a house overseas, may also be classified as individual split settlement and sale of foreign exchange and face the risk of rejection.

Some media have confirmed this news from a number of intermediaries and insiders who handle overseas home purchase business. According to people familiar with the matter, not only was the ID card "ant moving" supervised, but the channels for immigration companies to exchange foreign exchange for buyers through overseas wealth management companies were basically closed.

"The reason for safe supervision should be to prevent hot money speculation and avoid abnormal outflow of funds." People familiar with the matter said.

Buying a house overseas will be affected in the short term.

In the past two years, with the increasing purchasing power of RMB, it has become a trend for China people to buy their own property overseas.

According to the Global Housing Survey Report: Comparison of International Cities published by an industry authority, China buyers have become the largest overseas buyers in Sydney and new york in recent years, and they are increasingly active in the London housing market. According to the data released by the National Association of Realtors, the proportion of foreign buyers buying American real estate has been rising from 9% of 20 1 1 and 20 13 12% to 20 14 16%.

At the same time, overseas developers and immigration agencies are paying more and more attention to the expansion of China market. In September, there were 380 overseas exhibitors in the United States, Canada, Australia, New Zealand, Britain, Spain and other countries. It can be said that you can master global real estate information without leaving home.

"In the past two years, in addition to immigrants and children studying abroad, many families have also used overseas home ownership as a means of asset allocation." The person in charge of the international business of an exhibition in Beijing said frankly that cash payment is the most common way for China people to buy homes overseas. The most traditional way to raise cash is to find someone to exchange money. Take $500,000 as an example, you need to use 10 ID cards.

"Once this' ant moving' method doesn't work, it will take buyers longer to raise funds, which may affect the activity and transaction speed of overseas buyers in the short term."

Limited overseas cash withdrawal of UnionPay cards

Since August, foreign exchange holdings have dropped by 723.8 billion yuan, the biggest drop in a single month, and the foreign exchange bureau has strengthened supervision over the bank's settlement and sale of foreign exchange on behalf of customers. In addition to strengthening the supervision of the phenomenon of split settlement and sale of foreign exchange, there are also new restrictions on the amount of overseas cash withdrawal of bank cards. Specifically, from 20 16 65438+ 10/day, the accumulated cash withdrawal from each card abroad shall not exceed the equivalent of RMB 654.38 million. During 20 15, 10, 1, 12, 3 1, the accumulated amount of each card shall not exceed RMB 50,000. Due to the credit limit and other reasons, the issuing bank can set the limit separately. Please consult the issuing bank for details.

Overseas investment demand is difficult to meet.

As China's economy enters a new normal, more and more high-net-worth people in China who are pursuing asset appreciation are beginning to look to the recovering economies such as the United States and Canada. Whether studying abroad, buying a house or investing personally, they all face the dilemma of foreign exchange restrictions.

The personal foreign exchange settlement and sale business manager of a large state-owned bank said that according to the regulations of the bank, the amount of personal overseas remittances should not exceed the equivalent of 50,000 US dollars, and the maximum remittance amount is 3 transactions per year. This means that if a person wants to remit $65,438+$5,000 overseas, he needs to purchase $50,000 in foreign exchange every year for three consecutive years to achieve this goal. This is obviously not feasible for parents of foreign students who have the demand for home ownership like Ms. Ma. (from network comprehensive finishing)

(The above answer was published on 2015-10-1,please refer to the actual situation for the relevant housing purchase policy at present).

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