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Q: Money: What's the maximum amount you can get from abroad?

If a freelance broker lives in China and then closes a deal, are there limitations to how much money he/she can get into his/her bank account? Any taxes? 

 

If that broker happens to be a student can that result in legal problems to the student?

 

 

3 years 24 weeks ago in  General  - China

 
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Don't know about stock brokers but I know for sure you can send any amount you want. China welcomes you to do so into anyone's account so long as it is foreign currency into RMB.  The hard part is getting money out.

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3 years 24 weeks ago
 
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Hmm, my understanding was that there was a limit on how much you could transfer into China each year unless you could prove it was to buy a house or invest in a business. Can't remember the exact figure but I was told that by the HSBC bank in Guangzhou when I opened an account with them.

 

Just done a quick search and the figure I keep seeing is a maximum currency conversion of US$50k per year unless you can prove it is for what I mentioned above.

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3 years 24 weeks ago
 
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I think the problems might be at the senders side. Money laundering and all that.

 

It might also be awkward if the student broker is on a student visa.

 

I had similar issues after the CEO of the winkNigerian bank sent me an email saying I had inherited $20m (TWENTY MILLION $ ). He sent it to me by Western Union.

 

Whatever you do, beware of scams. Especially 419s.

 

 

 

 

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3 years 24 weeks ago
 
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Answer of the DayMORE >>
A: I'm prepared to give the guy some slack. He asked a few shifty questio
A:I'm prepared to give the guy some slack. He asked a few shifty questions in 2012 then went dormant for 5 years and suddenly appears asking newbie questions. A bit suss but who knows, he could just be a moron. Benefit of the doubt given.

This link should answer your questions: http://lawandborder.com/faq-new-china-visa-law/ -- iWolf