As a non-resident, you can purchase foreign exchange and remit the proceeds from the sale of your house that is located on the Chinese mainland. Here are the steps involved in the process:

Step 1. Familiarize themselves with the information on house selling and fund transferring. After reaching an agreement with the buyer, both parties will undergo property ownership review, qualification review, and other necessary procedures, culminating in the signing of the house property trading contract.

Step 2. The two parties will proceed with the property ownership transfer procedures at the local real estate authority before the payment is made.

Step 3. Visit the local tax authority to settle the tax on the proceeds from the sale of the house property and obtain the proof of tax payment.

Step 4. Approach the local tax authority to obtain the Tax Filing Form for External Payments for Trade in Services and Other Accounts, before utilizing RMB funds to purchase foreign exchange and make outward remittance, if required.

Step 5. Purchase foreign exchange with the proceeds from the sale of the house property and make outward remittance (if necessary) at our outlets by providing the required credentials.

Materials to be presented:

1. Passport or other valid ID documents.

2. Commodity house transfer contract and registration certificate.

3. Tax voucher issued by the competent local authority (Tax Filing Form for External Payments for Trade in Services and Other Account is also required if the transaction amount exceeds $50,000).

4. If someone else is commissioned to handle the transaction on your behalf, a notarized power of attorney and the valid ID documents of the agent should also be provided.

Source: Bank of China