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How much RMB can be transferred out of China by an expat?

Hello.

Wanted to know what the procedure is for transferring money out of China to the UK.

- Maximum Amount each year?
- Evidence of funds?
- Face to face transfer (go to the bank) or not?
- Do I still need to be in the country to transfer the remaining money? (If needs to be done over yearly installments)

Thanks - not sure what the current set up is.

Nick

They gave a limit,but I could not change that much by the time I left China, so I exchanged much of it when I returned the US and the I withdrew from my Bank of China account after I returned to the US.

Hi, take a look at TransferWise. I never use this system yet, but I´m considering...

Hi, if you have job agreement and money are taxed, with tax approval you can transfer without limit till sum of taxed income. But need visit bank personally with all documents

Off the top of my head, I believe the limit through airports is 20k. I did try to transfer to Thailand some years ago through the banks, but the surcharges made that not worthwhile. All RMB is changed to US$ before leaving China (RMB translates as Chinese people’s money and they don’t like you taking too much out). In Thailand that was changed to Bahts and finally transferred to the local branch, incurring costs all along the way. I lost about 20% of the total I sent.

Now I take it through customs and as there’s more than 20k, I divide it up amongst friends, till we get to the other end. I’ve also found that up to around 60k in practice is acceptable.

Hi - thanks for the information so far.

It is money collated through working in China which was put into a property and has now been sold.

It holds me to stay in China, if all I am doing is staying here until I can transfer all the money out.  But I don't plan to leave just yet either.  All I want is to know my options should I move from China.

What I find interesting is some of the funds came from the UK (no problem accepting the money, but difficult allowing the money to leave the country).

Nick

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