To study abroad, if you want to exceed the limit of 50,000 US dollars, you can apply for increasing the quota (with evidence and proof), or you can buy foreign exchange dollars through family members or acquaintances. According to the regulations of the State Administration of Foreign Exchange, domestic residents' purchase of foreign exchange is subject to annual total management, which is equivalent to 50,000 US dollars per person per year. Those who purchase foreign exchange within the total annual amount can apply with their real ID card and declare their use to the bank. If the purchase of foreign exchange exceeds the annual total, the bank can handle it after examining the real demand certificate according to the foreign exchange management regulations. Students can bring a small amount of cash before entering the country in case of emergency.

Extended data:

What exactly does the $50,000 limit mean?

According to the regulations of the State Administration of Foreign Exchange, each domestic individual has a convenient foreign exchange purchase quota equivalent to $50,000 per year.

In other words, if you want to change RMB into foreign currency, no matter which country's currency you change, the maximum amount can't exceed the equivalent of 50 thousand dollars. It is very important to remind everyone that you must not challenge the regulations. Once it exceeds $50,000, your account will be locked immediately, and you can't buy foreign exchange or remit money for two years. Special circumstances can apply for a breakthrough.

If we want to exceed the quota of $50,000, there are several ways to meet the quota demand above $50,000.

1) direct three-generation transfer

It is possible to exchange foreign exchange among the three generations.

The direct three generations here include parents, grandparents and children.

Excluding brothers and sisters.

That is to say, immediate family members, they also buy foreign exchange according to the annual quota of 50 thousand dollars, and then go to the bank to transfer foreign exchange to you in person.

There are no restrictions on remittance. After the foreign exchange is transferred to you, you can remit it directly.

In order to ensure the smooth remittance, it is recommended that you make several small remittances.

2) The quota is not enough

Many people always wait until they need to purchase foreign exchange and remit money, and suddenly find that the quota of 50 thousand dollars is not enough.

It's best to have some preset thinking. Since everyone's annual quota is stipulated, it is better to fully grasp the annual quota and exchange the quota of 50,000 US dollars before 65438+February 3 1 every year. It doesn't matter when the foreign exchange in the account is remitted.

3) The demand is too great.

If the demand is too large and the family quota is not enough, there is no need to be too flustered. As long as your use is in compliance, there is room for accommodation. On May 30, 2020, the State Administration of Foreign Exchange issued the latest foreign exchange documents, which pointed out that if there are special foreign exchange needs, such as studying abroad fees or cross-border e-commerce receipts, relevant supporting documents and transaction vouchers can be provided or special approval can be obtained.