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Lunadi
Talker
Joined: Jan 14, 2005
Posts: 79
Status: Offline
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 Posted:
June 22, 2006 - 02:00 PM |
 
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| Post subject: Moving Money |
I'm contemplating selling my home in the US and reinvesting in the Shanghai real estate market. What is the best way to move large amounts of cash into China with minimal fees? My understanding is that there is a limit on the amount per day that can be exchanged. How have others handled the similiar transaction? Many thanks... |
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Magnolia
Board Biatch
Joined: June 01, 2004
Posts: 31071
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June 22, 2006 - 04:36 PM |
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I have a friend who just transferred a considerable sum to his account here but he had to go to the bank every day for a few weeks to get it exchanged into RMB. Fortunately, he found a second branch of the bank that wasn't linked in and he learned that he could do two two maximum transactions per day by using both branches. Someone else has mentioned that if you have certain paperwork showing you are buying property, the maximum is lifted... but he didn't have time to get that paper so did it the old fashioned, time consuming way. |
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BOYCOTT BENSON SALON |
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StMichael
Ranter
Joined: Feb 19, 2005
Posts: 575
Location: Qibao, Shanghai
Status: Offline
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June 22, 2006 - 07:01 PM |
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Actually the problem is not really so much with bringing the money in, but getting the money out! |
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Michael Chan www.senseimichael.com |
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