What procedures must be considered for before repatriating profits in China?

The remitting of profits does not need prior approval from the State Administrative of Foreign Exchange (SAFE). However it must show that all income taxes have been paid. The investor must present the following documents to the bank in order to prove payment:

• Valid Foreign Exchange Registration Certificate
• Board resolution authorizing the distribution of dividends
• Voucher issued by the tax authorities stating that all expenses have been paid
• Capital Verification Report
• Audit Report stating the company’s profits and dividends