Are there any restrictions for remitting foreign currency abroad from Chinese operations?

In case of remittances with an amount higher than USD 30,000 to be sent abroad, banks will request a tax clearance certificate to obtain approval from the State Administration of Foreign Exchange, the department responsible for foreign exchange transactions, to remit the funds, or some further support in some case. If the remittance comes from a technology import contract (e.g.: technological consulting contract, cooperative designing/ research/ development/ production contract, etc.), the remitting Chinese subsidiary must register with the Ministry of Commerce.

Even in case of remittances to be sent overseas, exceeding USD 30,000, for the payment of salaries, banks will request a tax clearance certificate from an authorized tax bureau, where the following documents will be needed:

• Project contract/ secondment contract
• Employment contract
• Copy of passport of expatriate with entry exit records
• Tax payment slips
• Others