Transfers to/from countries with regulatory requirements

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Certain countries/regions impose additional regulatory requirements for cross-border transfers due to capital control or tax.

We offer an integrated experience to help you comply with such regulation requirements while maintaining the same core experience of paying out funds into/out of these countries/regions, with a few additional API endpoints to consider.

China

According to local regulations, transfers to Mainland China using LOCAL transfer method must be supported by declarant information and relevant order information.

Currently, Airwallex supports transfers to your own business account, UBO or third-party suppliers for the following use cases:

B2C e-commerce goods trade: Supports cross-border e-commerce sellers repatriating overseas sales proceeds into Mainland China for paying into their own accounts or to third-party suppliers. The corresponding goods sold need to be exported from China.
B2B e-commerce: Supports B2B sellers repatriating small ticket size sales proceeds (sold online via platforms like alibaba.com) or transfer to third-party suppliers within China. The corresponding goods sold need to be exported from China.

See China for a step-by-step guide to fulfil the regulatory requirements and create local CNY transfers.

As an alternative, Airwallex can also support SWIFT transfers into China without any additional requirements, but the beneficiary will be responsible for providing its own declaration materials to their local banks in order to settle the funds in onshore CNY.

Israel

International transfers from customers registered in Israel are subject to withholding tax (WHT) at source by the Israel Tax Authority. In accordance with Israeli regulations, Airwallex applies the applicable WHT rate depending on the transfer reason. Some transfer reasons are only available for transfers to beneficiaries with a bank account located in a country that has a tax treaty with Israel.

See Israel for the full list of supported transfer reasons and countries with a tax treaty with Israel.

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