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NEW -> Contingent Buyer Assistance Program
honestly that's probably an extreme/edge case and as far as I can tell, most FCB owners are happily buying homes in THEIR NAME (that's the point after all, having owning/land properties that aren't simply just a lease from the government for 90 years or whatever).

i've already repeat this before - but for most people, beyond finding multitude of people to do transaction per 50k each (which gets a bit tough when you reach the 1 mil+ level, and now that that's being tightening up even more)

here are two common method that I've seen:

1) most have business and have long since setup a USD account in a hong kong bank or equivalent: simple wire to escrow
2) find a friend/family with business/bank account in USD: friend/family wire to escrow, buyer transfer RMB equivalent to friend/family
 
Buy very expensive jewelries from SCP such as VCA's expensive collections well known through out the world on credit cards. Go back to China and pay off credit card bills through a bank based in China. Sell the expensive jewelries among the rich wives in high society. 10 pieces of jewelries = $1m cash
 
YellowFever said:
I found this on IHB.  Okay, maybe I was half-wrong on a facetious level. They don't get off the plane with suitcases of cash.  Well, maybe in their carry-on.  ;D

BTW, a sales lady at Eastwood did mention to me and was well aware that Chinese buyers are slowly drying a little due to China's government tightening up the outflow of cash. 


2lapor9.jpg
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That's the usual route for Latin-American narco-dollars. Ends up in home purchases in places like Biscayne, FL and Palms Beach, FL.
 
capboba said:
honestly that's probably an extreme/edge case and as far as I can tell, most FCB owners are happily buying homes in THEIR NAME (that's the point after all, having owning/land properties that aren't simply just a lease from the government for 90 years or whatever).

i've already repeat this before - but for most people, beyond finding multitude of people to do transaction per 50k each (which gets a bit tough when you reach the 1 mil+ level, and now that that's being tightening up even more)

here are two common method that I've seen:

1) most have business and have long since setup a USD account in a hong kong bank or equivalent: simple wire to escrow
2) find a friend/family with business/bank account in USD: friend/family wire to escrow, buyer transfer RMB equivalent to friend/family
Click to expand...

This changed starting 2017. From what I hear HK is on the strict lockdown, nothing is coming out of there. The regulations also changed to where it is now $10k per transaction per person max. The Chinese govt is keeping an eye on the money itself now, they don't care where it's heading or for what reason, they just want it to stay in China.
 
I buy stuff from China.
Instead of sending US$ to China, I put it into a US bank account that is owned by the Chinese plant owner.
Chinese plant owner sends me goods.

2 legit 2 quit.
 
Chinese set an export business here in America. China does not limit export of Chinese made goods. Things like Chinese granite counter to stone flooring to furniture to shoes. Chinese shop owners are not into making a huge profit rather they are interested in converting the goods to US cash fast. Unloading the goods at the cheapest price forced out a lot of mom and pop shops.

This is why granite counter top is so cheap and cheaper than plastic laminate.
 
Now this might make some difference.

Not only  they restrict the amount of money people can take out, now they prohibit people from using the money toward real estate.
https://www.bloomberg.com/news/arti...real-estate-buyers-are-suddenly-short-on-cash
China?s Army of Global Homebuyers Is Suddenly Short on Cash

China?s escalating crackdown on capital outflows is sending shudders through property markets around the world.

In London, Chinese citizens who clamored to purchase flats at the city?s tallest apartment tower three months ago are now struggling to transfer their down payments. In Silicon Valley, Keller Williams Realty says inquiries from China have slumped since the start of the year. And in Sydney, developers are facing ?big problems? as Chinese buyers pull back, according to consultancy firm Basis Point.

Less than a month after China announced fresh curbs on overseas payments, anecdotal reports from realtors, homeowners and developers suggest the restrictions are already weighing on the world?s biggest real estate buying spree. While no one expects Chinese demand to disappear anytime soon, the clampdown is deterring first-time buyers who lack offshore assets and the expertise to skirt tighter capital controls.

In a statement from the State Administration of Foreign Exchange on Dec. 31, hours before the reset of Chinese citizens? annual foreign currency quotas. Among other requirements, SAFE said all buyers of foreign exchange must now sign a pledge that they won?t use their $50,000 quotas for offshore property investment. Violators will be added to a government watch list, denied access to foreign currency for three years and subjected to money-laundering investigations, SAFE said.
Click to expand...
 
YellowFever said:
Quick, all the lawyers that we crank out of law school should now consider doing real estate, money laundering law.  There's going to be big, big business to help these Chinese move their cash out of the mainland in a "legal" or 'grey-area' manner.  There's only one problem.  The lawyers better learn how to speak Pu Tong hua fast.
Click to expand...

You are encouraging lawyers to break laws or help game the system?
 
lnc said:
Now this might make some difference.

Not only  they restrict the amount of money people can take out, now they prohibit people from using the money toward real estate.
https://www.bloomberg.com/news/arti...real-estate-buyers-are-suddenly-short-on-cash
China?s Army of Global Homebuyers Is Suddenly Short on Cash

China?s escalating crackdown on capital outflows is sending shudders through property markets around the world.

In London, Chinese citizens who clamored to purchase flats at the city?s tallest apartment tower three months ago are now struggling to transfer their down payments. In Silicon Valley, Keller Williams Realty says inquiries from China have slumped since the start of the year. And in Sydney, developers are facing ?big problems? as Chinese buyers pull back, according to consultancy firm Basis Point.

Less than a month after China announced fresh curbs on overseas payments, anecdotal reports from realtors, homeowners and developers suggest the restrictions are already weighing on the world?s biggest real estate buying spree. While no one expects Chinese demand to disappear anytime soon, the clampdown is deterring first-time buyers who lack offshore assets and the expertise to skirt tighter capital controls.

In a statement from the State Administration of Foreign Exchange on Dec. 31, hours before the reset of Chinese citizens? annual foreign currency quotas. Among other requirements, SAFE said all buyers of foreign exchange must now sign a pledge that they won?t use their $50,000 quotas for offshore property investment. Violators will be added to a government watch list, denied access to foreign currency for three years and subjected to money-laundering investigations, SAFE said.
Click to expand...
Click to expand...

The consistent increase in effort to curb money from leaving China appears to be having an effect...
 
It is getting harder by the day here in China to get money out. The most difficult thing lately is converting Chinese currency to other currencies.

They were using bitcoin for awhile but the gov noticed and cracking down on that now. You can see the bitcoin price fluctuation as a result.
 
B2FiNiTY said:
It is getting harder by the day here in China to get money out. The most difficult thing lately is converting Chinese currency to other currencies.

They were using bitcoin for awhile but the gov noticed and cracking down on that now. You can see the bitcoin price fluctuation as a result.
Click to expand...

Buy Pokemon or Yugioh cards!
 
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