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  • reyes
    reyes's Avatar
    1,349 posts since Feb '04
    • 30 Jun `08, 2:49AM

      i am being offer a job in shanghai by a china company.

      the pay is in RMB which i dont mind due to the strong RMB.

       

      1.is it easy to remit money from china bank to DBS bank?

      2. can we do a transfer from DBS shanghai to DBS singapore saving account?

       

  • motoway
    motoway's Avatar
    5,667 posts since Dec '05
    • 30 Jun `08, 3:00AM

      hey reyes, ask u a thing, how do u bring $$ over without incurring DBS exchange rate?

  • storywolf
    storywolf's Avatar
    2,127 posts since Mar '04
    • 30 Jun `08, 3:37PM
      Originally posted by reyes:

      i am being offer a job in shanghai by a china company.

      the pay is in RMB which i dont mind due to the strong RMB.

       

      1.is it easy to remit money from china bank to DBS bank?

      2. can we do a transfer from DBS shanghai to DBS singapore saving account?

       

      have you work out your taxation ?

  • zaxis
    zaxis's Avatar
    1,371 posts since Dec '04
    • 30 Jun `08, 3:44PM

      my usual way

      remit through money changer channel

      deposit RMB into singapore money changer desinated account in china bank account,

      scan deposit slip email to my money changer in singapore.

      upon they confirmed received

      i pre-arrange with them deposit into my POSB saving in Singapore

  • Arapahoe
    Arapahoe's Avatar
    2,021 posts since Jan '07
    • 01 Jul `08, 10:48AM
      Originally posted by zaxis:

      my usual way

      remit through money changer channel

      deposit RMB into singapore money changer desinated account in china bank account,

      scan deposit slip email to my money changer in singapore.

      upon they confirmed received

      i pre-arrange with them deposit into my POSB saving in Singapore

      dude is this legit?  there is a thin line draw between money laundry...and remittance.

  • zaxis
    zaxis's Avatar
    1,371 posts since Dec '04
    • 01 Jul `08, 11:12AM

      if they have lic from Mon Authority Singapore MAS

      i question them less.

      wheather if they have lic from China, i cannot check

  • reyes
    reyes's Avatar
    1,349 posts since Feb '04
    • 10 Jul `08, 11:11AM

       

       

      some of my friend advice me to bring RMB back to singapore when i come back every 3 mth.

       

      the local money changer exchange rate here is singapore from RMB to SGD is 5x.

       

      anyone know what is exchange rate in china from RMB to SGD.

       

       

  • reyes
    reyes's Avatar
    1,349 posts since Feb '04
    • 10 Jul `08, 11:15AM

      hey reyes, ask u a thing, how do u bring $$ over without incurring DBS exchange rate?

       this is the china RMB to SGD exchange rate.
      as my family is in aust now, every mth i just go to DBS and do a demand draft which just cost $10.00 ( of coz using DBS SGD to aust exchnage rate). and i mail the check to whom it should received.
      i am not sure whether such a practise can be perform in any of the china bank.
      by the way, anyone know DBS has a shanghai office or not?
  • reyes
    reyes's Avatar
    1,349 posts since Feb '04
    • 10 Jul `08, 11:16AM

      have you work out your taxation ?

      that is another issue i need advice.

      How do you guys work out your tax when you are working for a foreign company in oversea country?

       

      1.Do you declare tax in china or pay tax in singapore?

       

      of coz i dont want the mistake of double tax!

       

      2. what is personal income tax in china for foreigners?

       

  • Arapahoe
    Arapahoe's Avatar
    2,021 posts since Jan '07
    • 11 Jul `08, 1:59AM

      you don't have to pay tax in Sg if you proved to IRAS that you are working oversea. But u still need to do your annual submission thru the net. U just have to comply to your host country tax law.

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