Bank of China implements annual total amount management for personal foreign exchange settlement (equivalent to US$50,000 per person per year). Foreign exchange settlement is within the individual's annual total amount. Personal foreign exchange settlement business that occupies the quota can be handled with the person's valid identity document. In addition to their valid identity documents, customers can also provide materials proving the authenticity of the transaction to handle personal foreign exchange settlement business that does not occupy the quota.
The settlement of large amounts of foreign currency cash for individuals requires verification of the source certificate of the foreign currency cash. If the accumulated value on the day is less than US$5,000 (inclusive), it can be processed directly at the bank; if the amount exceeds the above, additional documentation proving the source of the cash must be provided.
Extended information:
Authentic documents required for excess settlement of foreign exchange:
1. Employee compensation: employment contract and income certificate
2 , Support: proof of immediate family relationship or notarized proof of support relationship; relevant income proof of the overseas payer, such as bank deposit certificate, personal income tax certificate, etc.
3. Overseas donation: must comply with national regulations, and Provide a notarized donation agreement or contract
4. Inheritance: legal documents or notarial certificates of inheritance and other relevant certificates
5. Insurance foreign exchange income: insurance contracts and insurance operating institutions Proof of payment
6. Income from the use of proprietary rights and licenses: Proof of payment, agreement or contract
7. Income from legal, accounting, consulting and public relations services: Proof of payment , agreement or contract
8. Overseas investment income: Overseas investment foreign exchange registration certificate, profit distribution resolution or dividend payment letter or other income proof
Bank of China-Personal foreign exchange settlement