How to move Money Out of China
How to move your onshore RMB in China into an investment account overseas. How to move Money Out of China
While opening a domestic investment account in China is possible, there are limitations on what you can invest in as a foreign national. Opening an overseas brokerage gives you access to the global markets, and depending on your brokerage, you may have access to the domestic Chinese A-shares market as well. Therefore, we’re going to focus on the process of moving your earned income into an overseas account.
There are two parts to the process:
1. Opening an Overseas Investment Account
2. Sending your RMB overseas
- Converting your money out of RMB
- Sending the money overseas
Opening an overseas investment account
Choosing a brokerage while living abroad isn’t easy. In the past year, many brokerages have begun closing accounts once they find out the account holder has a foreign residence.

Other notable brokerages were Saxo Bank, Barclays, and Firsttrade. O&G Capital Management uses Charles Schwab and Interactive Brokers to custodian client assets. They cover all the bases needed for expats living abroad.
Transferring Your Money Out of China
China has very strict currency controls, and you must be very careful to stay compliant. There are a few different ways to move your money out of China (Cash, Paypal, Western Union to name a few), but when it comes to funding an investment account, a bank wire will be recommended. This is the least expensive and fastest option in our experience, especially if you’re dealing with a large sum of money. How to move Money Out of China
The first step is to convert your RMB into the currency of choice. From there you can wire the money into your investment account. Some banks allow sending RMB overseas, in which case you may be able to save on the currency conversion fee with your brokerage.
Full document checklist to bring to the bank:1. Passport with a valid resident visa and work permit
2. Bank Card
3. Original Employment Contract
4. Monthly tax receipts (depends on the amount of transfer)
5. Salary Certificate/Payroll slips, stamped with your company chop
6. Full wiring details from your brokerage
Once provided to the bank, they will apply on your behalf with SAFE. If everything checks out, your funds will be released for transfer. There will be service charges for the transfer ranging from RMB150-200 (depending on your bank).
In some cases, you may be required to wire the money from the bank your company pays your salary into, and you will most likely have to go to the bank in person. If the wire amount greatly exceeds your salary, additional proof of funds may be required. The documents required from each bank may differ, so please calling your bank beforehand.
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