Bravo festival condos. How to buy a house in Canada legally?

Bravo festival condos. How to buy a house in Canada legally? Inadvertently, Chinese people may go to prison if they buy a house abroad? This doesn’t sound like a factual message.Please Visit: Bravo festival condos to Get Your VVIP Registration Today!

Many people have seen the strict control of foreign exchange controls and interpreted that “the era of private exchange in moments is over!”

This is indeed one aspect, but what is even more important behind this policy is that if your money is remitted to buy a house overseas through an underground bank, you may really go to prison!

It is forbidden to buy a house overseas through legal channels. Underground banks are the only way to bring a large amount of domestic funds out of the country. This road has always been illegal, but the punishment is generally lighter when caught before.

But there are also cases in which Chen, a Hong Kong Chinese, was fined 1.53 million yuan when he put 17 million yuan into a domestic account controlled by an underground bank to buy overseas property in 2015.

If a fine of 1.5 million is not a big deal.

It’s not that simple now.

According to this latest “explanation”, from February 1, 2019, more than 5 million yuan may be convicted of illegal business operation.

In addition to a fine, he may also be sentenced to fixed-term imprisonment of not more than five years or criminal detention.

Whoever exceeds 25 million yuan may be sentenced to fixed-term imprisonment of not less than five years.

(1) whoever illegally buys and sells foreign exchange, such as “buying and selling foreign exchange” or “buying and selling foreign exchange in disguise”, if the circumstances are serious, he shall be convicted of the crime of illegal business operation in accordance with the provisions of item 4 of Article 225 of the Criminal Law.

Second, it is clear about the “serious circumstances” of “illegal trading of foreign exchange”, such as “those whose illegal business amount is more than 5 million yuan” and “those whose illegal income is more than 100,000 yuan”. According to the Criminal Law, it is possible to “be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and concurrently or independently be sentenced to a fine of not less than one time and not more than five times the illegal gains.”

Third, it is clear that the “circumstances of illegal foreign exchange trading” are particularly serious, such as “those whose illegal business amount is more than 25 million yuan” and “those whose illegal income is more than 500000 yuan”. According to the criminal law, it is possible to “be sentenced to fixed-term imprisonment of not less than five years, and concurrently be sentenced to a fine of not less than one time and not more than five times the illegal gains or confiscation of property”.

Note that the “yuan” stated in the maximum document refers to RMB, which is calculated at the current exchange rate of 5.09. if you resell foreign exchange of more than 982000 Canadian dollars (5 million yuan), you will meet the conditions of “fixed-term imprisonment of not more than five years or criminal detention”. If you resell foreign exchange of more than 4.912 million Canadian dollars, you will be sentenced to fixed-term imprisonment of more than five years.

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