French Company Sold Beijing Office Without a China Bank Account and Successfully Repatriated the Sale Proceeds

Background A French company had established its business presence in Beijing more than a decade ago and purchased an office as part of its long-term operations in China. After restructuring its China business, the company decided to dispose of the office property and repatriate the sale proceeds to its headquarters in France. Unlike many foreign-invested enterprises operating in China, the company had no any corporate bank account in mainland China, making the transaction significantly more complex. Challenge Selling commercial property owned by a foreign company involves much more than completing a real estate transaction. This project presented several practical challenges: • The seller was a French company rather than an individual. • The company had no any corporate bank account in China to receive the purchase price. • Corporate documents from France needed to be prepared, translated, notarized, and legalized for use in China. • Corporate resolutions and powers of attorney had to comply with both French corporate governance requirements and Chinese registration procedures. • Tax settlement involved corporate tax compliance before the proceeds could be remitted overseas. • The entire payment and remittance process required coordination between multiple government authorities and banking institutions. Every step had to be carefully planned to avoid delays or compliance issues. Our Solution We coordinated the project from start to finish by: • Reviewing the company's ownership structure and transaction documents. • Assisting with the preparation of overseas corporate documents, board resolutions, and powers of attorney. • Coordinating notarization, legalization, and certified translations. • Designing a compliant payment solution despite the absence of a domestic corporate bank account. • Coordinating tax declarations and settlement. • Working closely with the bank and the relevant authorities to complete the foreign exchange approval and international remittance. • Managing communication among the buyer, government departments, accountants, lawyers, and banking institutions throughout the transaction. Outcome The transaction was successfully completed. ✔ The Beijing office was sold successfully. ✔ The absence of a China corporate bank account did not prevent completion of the transaction. ✔ All corporate tax obligations were properly settled. ✔ The sale proceeds were legally transferred to the company's designated bank account in France. ✔ The client completed its China asset disposal efficiently and in full compliance with applicable regulations. Key Takeaways For foreign companies, selling commercial property in China is fundamentally different from a residential property transaction. Issues such as overseas corporate documentation, tax compliance, payment arrangements, and cross-border fund repatriation require careful planning. Companies without a China bank account should evaluate the transaction structure before signing a sale agreement, as payment collection and overseas remittance often require tailored solutions. Early preparation can significantly reduce risks, delays, and unexpected costs. Client Testimonial "Our biggest concern was completing the transaction without a corporate bank account in China. Every stage—from document preparation to tax coordination and the international transfer—was handled professionally, allowing us to complete the sale and repatriate the proceeds to France smoothly." Read More Related Case Studies

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