How to Entrust a Lawyer to Handle Asset Transfer after Immigration

EXCERPT:

After Chinese residents obtain foreign permanent residency or foreign citizenship, they may transfer their assets to their country of naturalization in accordance with international treaties China has acceded to and relevant bilateral agreements. If personal handling is inconvenient or unfamiliar, lawyers based in Chinese mainland may be entrusted for assistance.


Chinese residents who have obtained foreign permanent residency or foreign citizenship may transfer their property to their country of naturalization pursuant to international treaties concluded by China and relevant bilateral agreements. Where individuals are unable or unfamiliar with the procedures, they may retain lawyers in Chinese mainland to assist with formalities.

Prerequisites

The following conditions shall be satisfied for property‑transfer procedures:
  1. Chinese citizens holding foreign permanent residency;
  2. Persons who have obtained citizenship of another country, residents of the Hong Kong or Macao Special Administrative Regions, or residents of Taiwan Region;
  3. Completion of domestic household‑cancellation formalities at the public‑security authority of the household‑registration locality;
  4. Proofs of income sources and property ownership;
  5. Tax clearance certificates, among other documents.

How to Entrust a Lawyer

For overseas clients retaining our services, entrustment formalities shall be completed, a power‑of‑attorney document shall be signed, and the document shall be notarized by an accredited notarial institution.

Handling Procedures

Lawyers will guide clients to obtain relevant supporting documents overseas and complete notarization and authentication (embassy authentication or Hague‑Apostille certification). Armed with the client‑issued power of attorney, the lawyer will liaise with notary offices, banks, the State Administration of Foreign Exchange, public‑security bureaus and other authorities to apply for property‑transfer documentation.
Examples of documents proving applicants’ income sources and property ownership are listed below:
  1. Personal compensation income (wages, salaries, author’s remuneration, service remuneration, etc.): submit proof of income sources.
  2. Business income (earnings from private‑business owners, corporate individual shareholders, individual‑industrial‑commercial‑household operators; income from contracting or leasing enterprises and public institutions): submit individual‑business‑household income tax returns, equity certificates, contracting or leasing contracts / agreements, plus supporting materials such as corporate financial statements and corporate‑board distribution resolutions.
  3. Capital gains and proceeds from asset realization

    ① Interest, dividends and bonus income: submit deposit certificates, stock and bond account‑opening and transaction records.

    ② Income from property leasing, property transfer and royalty use:

    a. Leasing, transfer or royalty‑licensing contracts / agreements plus capital‑transfer records;

    b. Real‑estate title certificates;

    c. Real‑estate sales contracts or resettlement‑compensation agreements plus capital‑transfer records.

  4. Occasional income (including lawful proceeds from welfare‑lottery and sports‑lottery winnings): submit authentic transaction records.
If the client owns domestic real‑estate properties for sale, lawyers may be fully authorized to conduct the sales. Lawyers may also process the transfer of proceeds from such property sales following the above‑mentioned procedures. Our firm has successfully handled numerous such cases.

|Catogary:Chinese law