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  • 1 Post By mrgoodkat
  • 1 Post By Gevening

is it possible to wire transfer from China to UK bank

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  1. #1

    Join Date
    Jan 2017
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    83

    is it possible to wire transfer from China to UK bank

    l have a mainland bank of china account opened with my HKID or China pink card pass . my property has been sold here in China, and was a given choice of HKD or RMB currency payments. I am a UK citizen as well but do not work in China. l plan to wire the money to a UK bank. Is settling for HKD the better wiser choice for ease of sending money to UK?


  2. #2

    Join Date
    Feb 2011
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    Which one gets you a better rate?

    There's some restrictions on taking RMB money out of China.

    This is an old article but gives you an idea.

    China limits overseas cash withdrawals for its citizens - Sep. 30, 2015


  3. #3

    Join Date
    Jan 2010
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    If you have bought the property with your HRP and have paid all taxes on the sale you can just wire the funds out, no limits on the amount. However HK-Chinese citizens have to exchange it to HKD at the Chinese bank and wire it to HK. You need a copy of the contract, the tax receipts, a printout from the property records bureau showing the buyer as the new owner, a permit from the local tax bureau and a permit from SAFE (You get them in that order). Take all the document to the bank, jump a few hoops and voila. The SAFE permit has a QR code which the bank has to scan in order to proceed. Can't get around it.


    Edit: You can only transfer the amount you have paid tax on. If you have used a second contract at the property office to pay lower taxes then you can only transfer the lower amount.

    Last edited by mrgoodkat; 20-01-2017 at 12:07 AM.
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  4. #4

    Join Date
    Jan 2017
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    Quote Originally Posted by mrgoodkat:
    If you have bought the property with your HRP and have paid all taxes on the sale you can just wire the funds out, no limits on the amount. However HK-Chinese citizens have to exchange it to HKD at the Chinese bank and wire it to HK. You need a copy of the contract, the tax receipts, a printout from the property records bureau showing the buyer as the new owner, a permit from the local tax bureau and a permit from SAFE (You get them in that order). Take all the document to the bank, jump a few hoops and voila. The SAFE permit has a QR code which the bank has to scan in order to proceed. Can't get around it.


    Edit: You can only transfer the amount you have paid tax on. If you have used a second contract at the property office to pay lower taxes then you can only transfer the lower amount.
    wow, thanks for info, China is awful, I think I will request HKD payment into my HKG bank. thanks for info.

    cheers
    Last edited by Gevening; 20-01-2017 at 01:55 AM.
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