There are restrictions on private accounts in China to receive foreign exchange. Users can only get $50,000 a year. A foreign exchange of more than $50,000 cannot be received in a private account. Our country has strict foreign exchange management, and every transaction exceeding $3,000 must be declared with balance of payments statistics. Although you don't need to declare information below $3,000, you need to enter the personal settlement and sale system of the State Administration of Foreign Exchange for online verification.
The best way to receive foreign remittances is to open a bank foreign exchange account. Cardholders can open a current all-in-one account in local and foreign currencies or a fixed all-in-one account in local and foreign currencies in RMB. This kind of account can accept both RMB and foreign currency (all foreign currencies accepted by the opening bank are acceptable).
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Matters needing attention in international remittance and collection:
1, bank wire transfer: the bank remittance counter charges less than 2% of the handling fee and less than 1% of the difference fee, while foreign intermediary banks charge about 15 USD.
2. Each bank's business department shall remit no more than USD 50,000 per person per day, but the amount is large enough to borrow other people's shares. A single cash remittance below $50,000 or a cash remittance below $65,438+$00,000 does not require proof, only a personal ID card is required.
3. The one-time remittance limit for cash remittance is equivalent to USD 654.38+RMB 00,000. If it exceeds the equivalent of $654.38 +0 million, it must apply to the State Administration of Foreign Exchange.
4. In case of remittance by purchasing foreign exchange, it should also be noted that SAFE stipulates that the amount of foreign exchange purchased by individual residents each year shall not exceed the equivalent of 50,000 US dollars, otherwise it will be examined and approved by SAFE.
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