working in shanghai

reyes SG

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 SG

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

storywolf SG

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 SG

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 SG

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 SG

if they have lic from Mon Authority Singapore MAS

i question them less.

wheather if they have lic from China, i cannot check

reyes SG

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 SG

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

reyes SG

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 SG

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.