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Can provident fund only buy a house locally?

yes. You can't use local provident fund loans to buy a house in a foreign country, but you can withdraw local provident fund after buying a house in a foreign country. ? The housing accumulation fund stipulated in the policy can only be used for employees to purchase, build, renovate and overhaul their own houses, and no unit or individual may use it for other purposes.

Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

In p>211, the Ministry of Housing and Urban-Rural Development, in conjunction with various departments, is studying the revision of the provident fund regulations, and releasing the provision that individuals withdraw provident fund to pay housing rent. In 213, some cities introduced measures to allow employees with major diseases or their immediate family members to withdraw provident fund for emergency.

in p>214, the three departments issued a document to cancel the housing provident fund, personal housing loan insurance, notarization, new house evaluation and compulsory institutional guarantee, so as to reduce the burden on loan workers.

In p>215, the Regulations on the Management of Housing Provident Fund (Revised for Draft) intends to stipulate that the contribution ratio of employees and units' housing provident fund shall not be lower than 5% and not higher than 12%.

from July 1, 217, all housing provident fund management centers in China will handle the transfer and connection of housing provident fund in different places through the platform in accordance with the requirements of the National Operating Rules for the Transfer and Connection of Housing Provident Fund in Different Places issued by the Ministry of Housing and Urban-Rural Development.