It is possible to execute payments to a personal (individual) bank account based in China. To pay an individual in China, there is a limit of USD50,000/year. If you’re not a director or a shareholder of the company, the compliance might require supporting documents
You can make payments to a personal bank account in China. However, there are certain considerations and limits to keep in mind:
- Payment Limit: There is a limit of USD 50,000 per year for payments to individuals in China.
- Supporting Documents: If the recipient is not a director or a shareholder of the company, additional supporting documents may be required for compliance purposes.
It's important to note that complying with regulatory requirements is essential for conducting international payments. Our compliance team will guide you through the process and assist you in providing the necessary documentation when making payments to personal accounts in China.