China

China

Shanghai allows expatriates working for foreign-invested companies to transfer their income abroad without restrictions

01 Sep 2023

On 1 September 2023, the Government of Shanghai released the Regulations 2023 No.19, which allowed expatriates working for foreign-invested enterprises operating in the Shanghai Pilot Free Trade Zone and Lingang New Area to transfer their income abroad without restrictions. The funds are required to be “real and legally compliant” and associated with their investments in China.