Recently, the People's Bank of China issued the Interim Measures for the Administration of Foreign Exchange Sale and Payment of Personal Property, allowing personal property to be transferred to other countries. So, who can apply for property transfer? What property can be transferred to other countries? How to handle the external transfer of property? How to realize the property and remit it abroad? On these readers' concerns, the reporter interviewed the relevant person in charge of the People's Bank of China.
The external transfer of personal property includes the transfer of immigrant property and inherited property.
The person in charge said that the outward transfer of personal property referred to in the Interim Measures includes two types: first, the transfer of immigrant property, that is, the legal property owned in China before obtaining immigration status, which is realized, purchased and remitted abroad by natural persons who moved from the mainland of China or settled in Hong Kong and Macao Special Administrative Regions; The second is the transfer of inherited property, that is, foreign citizens and residents of Hong Kong and Macao Special Administrative Regions will realize the legally inherited domestic heritage and purchase foreign exchange and remit it abroad. The Interim Measures can be applied mutatis mutandis to the transfer of personal property to Taiwan Province Province. Other forms of personal property transfer do not fall within the scope of these Interim Measures.
According to reports, the property that the applicant applies for foreign transfer should be his own legal property, and there should be no dispute over rights and interests with others. The foreign exchange bureau does not accept applications for foreign transfer of property restricted by judicial and regulatory authorities according to law. Before the case is concluded, the foreign exchange bureau will not accept the application for foreign transfer of property involving domestic criminal and civil litigation cases. If a close relative of a person involved in a domestic criminal or civil case applies for transferring property abroad, he shall provide a certificate issued by the case jurisdiction authority that the property has nothing to do with the case. For the property that is not allowed to be transferred according to the law, or the property whose legal source cannot be proved, the foreign exchange bureau will not accept its application for foreign transfer.
The application for external transfer of property can be handled by myself or by others.
The person in charge said that the applicant needs to apply to the foreign exchange administration branch and the foreign exchange administration department where the immigrant's original household registration is located; The applicant shall apply to the foreign exchange bureau where the decedent was registered before his death for inheritance and transfer.
If the application amount is less than the equivalent of 500,000 yuan, it shall be examined and handled by the branches and sub-bureaus of the State Administration of Foreign Exchange (Foreign Exchange Management Department); If the equivalent amount is more than 500,000 yuan (including 500,000 yuan), all branches (foreign exchange management departments) shall report to the State Administration of Foreign Exchange for examination and approval after preliminary examination. It is reported that the application for foreign transfer of property can be handled by myself or by others. The applicant shall submit the materials specified in the Interim Measures, and ensure the authenticity and integrity of the materials. If it is entrusted to others, it is also necessary to provide an agency agreement and the identity certificate of the agent. If the agency agreement, relevant property rights certificates, documents proving that the heir has acquired the inherited property and documents proving the property rights of the decedent have not been notarized, they shall be notarized.
One-time application for immigration transfer and step-by-step remittance. The transferred property below 200,000 yuan can be remitted in one lump sum.
It is understood that the total amount of property transferred out of the country must be applied for in one lump sum and 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; One year after the first remittance, no more than half of the remaining property can be remitted; After two years from the first remittance, all the remaining property can be remitted. If all the properties applied for transfer are less than RMB 200,000 (including RMB 200,000), they can be remitted once approved.
If all the property inherited from the same decedent is transferred out of the country after being realized, it must be applied for once, remitted in one time or by stages. Property inherited by heirs from different decedents shall be separately applied for and remitted.
The person in charge said that after handling the sale of foreign exchange, the designated foreign exchange bank should directly remit foreign exchange to the applicant's account in the country or region where the immigrant or heir lives, and may not withdraw foreign currency cash in China.