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How do I transfer money out of China?

To obtain an EB-5, the investment must be $1 million or more, but there are capital outflow restrictions for sending money out of China. How does a Chinese investor get $1 million out of China and into the United States to make the investment?

Answers

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    Robert Abedi

    Immigration Attorney
    Answered on

    You will need to retain an attorney with experience with China. Our law firm is willing to assist you, as we have familiarity with this process.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    I recommend contacting transfer agents in China or your bank locally.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    First, check with your banker(s) to determine how much you and your spouse can take out. Then, consider if it is legally permissible in China to use family members and friends to take out the remaining balance. Take precaution to ensure you are not violating Chinese law, particularly anything relating to money laundering. Otherwise, using friends and other relatives are fine. Advisably, get in touch with an EB-5 attorney so that you can sort out all the necessary steps on remittance. Also, both you and your attorney should do the math on how much you will actually need once you and your spouse have sent the allowable remittances.

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    Ed Beshara

    Immigration Attorney
    Answered on

    An experienced EB-5 attorney will be able to advise you of the Chinese and U.S. legally accepted ways of transferring funds out of China.

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    Philip H Teplen

    Immigration Attorney
    Answered on

    There are several methods to legally invest funds. Further, the investment can often be $500,000. You need to directly consult with counsel.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    First, EB-5 investments can be $500,000 if the project is located within a Targeted Employment Area. Either way, many Chinese investors enlist family and friends to transfer portions of the full investment amount to a U.S. account held by the EB-5 investor. There is a proper way to do this, and it is best done with the assistance of EB-5 counsel.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    This will depend on an individual investor''s situation. Some investors have business, accounts and assets outside of China that they use; some will ask their relatives and friends to accept and wire for them. The exchange limitation is $50,000 per person per year, so a husband and wife could wire up to $200,000 to another couple, and have them wire to the ultimate investment vehicle, for example. Please note, however, that each wire coming out, and then going out from original sender to intermediary to the final account, must be tracked dollar for dollar.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You should consult directly with an experienced EB-5 immigration attorney on this matter. There is not a "one-size fits all" answer to your question.

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