If an individual, resident within China, receives foreign exchange funds from outside China on account of patent or copyright royalties and that individual wishes to withdraw the foreign exchange funds in cash or convert it into RMB, are there requirements as to the documents that must be produced in such a case ?
The individual must produce:
1) personal identification;
2) evidence of ownership of the relevant patent or copyright;
3) the relevant license or transfer agreement; and
4) evidence that the relevant taxes have been paid offshore in relation to those funds.
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