This is actually an issue regarding the use of funds in accounts. Funds can be transferred to domestic personal accounts through online banking and then settled. This is the most commonly used method. Currently, an individual in China can settle up to 50,000 US dollars in a year. If the amount exceeds this limit, multiple people such as parents and relatives can help you handle it.

Now, many friends are very concerned about how to use the funds in offshore accounts. The concerns mainly focus on two issues: 1. Withdrawal; 2. Foreign exchange settlement. Now, let's explain these two issues.

1. Withdrawal

This is a concern for many SOHOs. The main purpose is to take this sum of money back to their own accounts. Keeping money in overseas accounts always makes people feel uneasy. But in fact, for offshore accounts, withdrawal is not possible. However, actions such as transfer, T/T, and L/C can all be completed. Therefore, if you want to withdraw cash and use it in your own account, it is recommended to achieve this through transfer. Firstly, there is no need to worry about the daily withdrawal limit. Secondly, profits can be placed in your own account for use. Register a Hong Kong company and call the 24-hour toll-free hotline 400-021-0052. Of course, the transfer is made to an individual's foreign currency account.

2. Foreign exchange settlement

For companies, foreign exchange settlement may not be a big problem. They may remit funds back to domestic companies or entrust other foreign trade companies to settle foreign exchange. These are all available methods. However, for SOHOs, it is not realistic to use their own domestic companies. And using foreign trade companies to settle foreign exchange may also raise issues such as trust problems and time lags in intermediate transfers. Therefore, SOHOs do not want to remit large sums of money through foreign trade companies for foreign exchange settlement. In this case, it seems that there is only one way to settle through the 50,000 US dollars foreign exchange settlement limit. After all, this is a new policy introduced by the country today. However, SOHOs usually hope to settle this sum of funds for two considerations: one is for personal use, and the other is to pay for the goods of domestic factories. Now, let's analyze these two situations separately:

1. For personal use: For personal use, it is usually recommended to open several more foreign currency accounts under the names of relatives and friends, and then settle through the 50,000 US dollars foreign exchange settlement limit. Generally speaking, personal expenditures are still okay.

2. For paying for goods: For paying for goods, the amount is usually relatively large. So settling through the 50,000 US dollars foreign exchange settlement limit is obviously not realistic. Therefore, many friends handle it through the following methods:

a. Directly pay the factory from the offshore account in foreign currency. Generally speaking, it is a relatively strong currency, such as Hong Kong dollar, euro, etc. Then the factory will solve the problem of foreign exchange settlement.

b. If some factories hope not to receive payments to corporate accounts, then payments can be made to the personal foreign currency accounts of the factory owners.

c. Open an account in Hong Kong and then solve the problem through a local financial company in Hong Kong. Financial companies are illegal in China but legal in Hong Kong. (Financial companies will charge handling fees.)

d. Set up an office in China. Settling foreign exchange through office expenditures has no limit of 50,000 US dollars foreign exchange settlement. (This is suitable for SOHOs who hope to set up an office in China to contact customers, but operating costs will increase.)