Am a EU citizen working my first year for a Chinese company in China that are listed in the US. I have US, EU, and CN bank accounts and am tax resident in China. I receive my bonus as annual RSU stock grants. So cashed out most of my RSU this year for around $40k USD and it’s in some sort of SAFE account of the broker that handles the RSUs for employees. They have withheld 20% as dividend tax based on Chinese tax I believe. Normally the proceeds would get transferred to my Chinese bank account, but this year I am not registered in their SAFE system yet and they recommend to transfer the proceeds to my foreign account.
This is actually better since I would have transferred the proceeds out of China anyway. I have a multi-currency Wise account so have requested an initial wire transfer to my USD Wise account for just under $10k to avoid getting flagged although I have proof that these are stock proceeds of course. Once that goes through is it fine to just transfer the remaining $30k or better to keep transferring just under $10k at a time?
This is actually better since I would have transferred the proceeds out of China anyway. I have a multi-currency Wise account so have requested an initial wire transfer to my USD Wise account for just under $10k to avoid getting flagged although I have proof that these are stock proceeds of course. Once that goes through is it fine to just transfer the remaining $30k or better to keep transferring just under $10k at a time?