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#personal issues
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From time to time, we got inquiries from our subscribers: “Is it true that there is a cap for the salary I earned to be sent to my home country?” Or “Can I only send 50K USD each year out of China?”Well, I assume there is some misunderstanding here.The so-called cap of “50K USD a year” is only applied to Chinese citizens. It means the total amount for each Chinese individual purchasing/selling foreign exchange is 50K USD each year.For foreigners working in China, there is no cap for them to send their salary overseas, as long as they have paid the individual income tax in line with related taxation law，the transfer is treated as Non-business foreign exchange under the current account, such as outbound tourism, study abroad, overseas trip for business purpose, non-investment insurance, consulting services, medical care, settlement, family support.
What documents you need to provide to transfer the money? There are no unified rules. It’s highly recommended to contact the local bank for details.Anyway, the list of documents provided by the Bank of China can be used as reference. 1. Employment contract between you and your employer.2. Bank slip of your salary.3. Tax certification from the tax office.4. Revenue statement from your employer.5. Copy of your work permit.
第十三条 境外个人在境内取得的经常项目项下合法人民币收入，可以凭本人有效身份证件及相关证明材料在银行办理购汇及汇出。（三）经常项目项下非经营性外汇是指除贸易外汇之外的其他经常项目外汇。Administrative Rules on Individual’s Foreign ExchangeArticle 13: A non-domestic individual can convertlegitimate renminbi income obtained in Chinaunder the current account into foreign exchange and remit abroad at a bank byshowing valid identity documents and relevant documents.(3) Non-business foreign exchange under the current account refers to foreign exchange under currentaccount items other than trade.