Different levels of foreign exchange (forex) control are imposed by different countries. Places like Hong Kong and some offshore financial centres such as Jersey Island, Guernsey, and the Isle of Man do not have any forex control. One can freely transfer any foreign currency in and out of these countries without any restriction

Taiwan and mainland China, however, still have close control over forex. There are limits on the amounts transferable in or out of the countries, and detailed reports are often required.

Even though banks are the facilitator in fund transfer and allocation, they have different legal bindings on fund transfer against both businesses and individuals, and also against the origin of the business registration.

This short list is by no means exhaustive and our experts are here to guide you through the taxation and legislation system as the need arises.