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Is it illegal to transfer personal assets abroad?
1. Is it illegal to transfer personal assets abroad?

1. If you transfer assets without permission, it is illegal to transfer a large amount. The total amount of property that immigrants must apply for transfer out of the country at one time shall be remitted step by step. The amount that can be remitted for the first time shall not exceed half of all the property applied for transfer; After the first remittance of 1 year, the remaining property cannot be remitted more than half; After two years from the first remittance, all the remaining property can be remitted. All the property applied for transfer is less than RMB 200,000, including RMB 200,000, which can be remitted in one lump sum after approval.

2. Legal basis: Article 5 of the Interim Measures for the Administration of Sale and Payment of Foreign Exchange of Personal Property.

Applicants need to apply to the foreign exchange administration branch and the foreign exchange administration department (hereinafter referred to as the local foreign exchange bureau) where the immigrants are originally registered; The applicant shall apply to the foreign exchange bureau where the decedent was registered before his death for inheritance and transfer. The central branch of the State Administration of Foreign Exchange where the applicant is located may accept the application materials on his behalf.

Article 7

The application for external transfer of property can be handled by myself or by others.

2. What are the requirements of the transferor of large personal assets and property?

The requirements for large personal assets and property transferers are as follows:

1, must be a citizen of China or a foreigner who has obtained permanent residency abroad;

2. It is necessary to sell the real estate held in China, and other securities and real estate must be sold before applying for asset transfer;

3. The property transferred to the outside world shall be legal property, and there shall be no disputes with others;

4. Successful applicants are not allowed to withdraw foreign currency cash in China, but must directly remit foreign exchange to the applicant's account in the country or region where the immigrant or heir lives;

5. All China citizens who legally immigrate to other countries and regions have one and only one chance to apply to SAFE for the transfer of immigrant property.