This could be what the government wanted in testing the waters: To understand whether the country was ready for a more inclusive approach. Can You Own Property in China as a Foreigner? The system is transparent and there’s a comparatively low risk that you’ll end up in ownership disputes. After this time, the lease is usually renewed. The process of buying a house in China is the same as that of the local residents apart from a few additional requirements that have been put for foreigners.Below are the steps to be followed:Step 1: Obtain proof of your one year residence in China from the local Municipal Bureau of Public Security. Additional requirements apply in Beijing and Shanghai. Company descriptions are provided, including Employer-Profiles that detail involvement and activities in China. For example in Shanghai a foreigner is supposed to produce tax receipts to the local authorities for 12 of the past 24 months and you must be married in order to purchase a house. I have helped clients set up accounts in 48-72 hours, and all the documents can be done online. In terms of salary requirements the combination of length of residency and individual income has been extended from a single case to three different cases. Buying property in China as an investment and renting it out is not permitted. In Beijing, all you need to do as a foreigner is to pay social security and taxes for at least 5 years before the government allows you to buy a house. You now need to be both financially and legally prepared before you sign the purchasing contract for your new house so as to make the journey smooth and enjoyable. From country estates to city apartments, your ideal property is just a click away. The short answer is yes, but there are some conditions to be able to do so. How can foreigners buy at a lower price? Foreigners are not allowed to buy property in the border areas of Greece Feel good studio / Shutterstock. Property as a vehicle for getting money out of China in 2021. Hotline Europe: +49 69 2713769 170 Hotline China: +86 21 6163 2960 883contact@sinojobs.com  © 2009 - 2020 SinoJobs GmbH, SinoJobs is committed to providing the most up to date job vacancies with EU-China focus, and has the largest employer database of European and Chinese companies.SinoJobs is the leading job portal for European-Chinese target groups. The new requirements for obtaining permanent residency, it has to be said, remain quite high and target the most requested talents for the development of industries of national interest and those with higher degrees from top international academic institutions, but this hasn't stopped Chinese netizens from expressing their disappointment. This explains the aim to attract a certain type of foreign residents who have a specific expertise. Professionals and managers wanted!Foreign and national companies in the P.R. However, the requirements vary from region to region. This means that if you want to buy a two bedroom apartment in Beijing, you will have to pay more than 4 million yuan per square meter, or even have to pay more than $0.65 million. The second case (article 15), concerns foreigners who have lived in China and also meet salary or education requirements. Property ownership for investment by foreign companies and individuals are prohibited. Again, the foreigners are banned from renting the property as you are supposed to use it for dwelling purposes. European companies with branches/offices in China are listed along with Chinese companies that are looking for European-Chinese professionals. The next question that comes to your mind is, how do I go about it? At the core of the online debate there is the national identity of Chinese people and the idea that foreign nationals coming to China receive special treatments and favors such as better salaries, perks and living conditions. Employees and students from Andorra, Belgium, Bosnia and Herzegovina, Bulgaria, Denmark, Germany, Estonia, Finland, France, Greece, Iceland, Ireland, Italy, Kazakhstan, Kosovo, Croatia, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Macedonia, Moldova, Monaco, Montenegro, the Netherlands, Norway, Austria, Poland, Portugal, Romania, Russia, San Marino, Sweden, Switzerland, Serbia, Slovakia, Slovenia, Spain, Sweden, Turkey, Ukraine, Hungary, Vatican City, the United Kingdom, Belarus and Cyprus also stand to increase their opportunities by focusing on China. In terms of education requirements, the revised law extends the eligibility from a doctoral degree from a well-known international university to a graduate degree from a well-known international university previously required, with at least 1 year of accumulated actual residency in China. As explained in previous articles, Malaysia has some the most favorable foreign ownership regulations in the Southeast Asia region. Also buying older properties is risky as the government can make a compulsory purchase of your property for the purpose of new construction. Properties for sale in China from Savills, world leading estate agents. Like San Li Tun in Beijing or the Bund in Shanghai. November, 23, 2020 China, Beijing House prices in Beijing, China. Have you been living in China for more than six months? ... Buy property time series and yields data; Our Newsletter. You will also need your employer to provide you with the original labor contract, a letter stating the purpose of the international transfer and your monthly salary, going to the tax bureau and getting a statment showing your paid taxes for the last 6 months to a year. Having traveled around Asia for over 10 years, I highly recommend traveling through China with a smartphone. Buying a property in Canada is a dream for many non-resident foreigners who want a second home, an investment, or somewhere to live fulltime themselves. If this happens, you may be forced to sell the property and you may also lose money from it. Can You Own Property in China as a Foreigner? Malaysia My Second Home (MM2H) programme is a programme tailored to foreigners who wish to stay in Malaysia for a long time (10-year visa). For you to buy a commercial property, you need to first incorporate a company in China. Many Chinese and expats living in Mainland China are interested in property overseas property in the US, UK and many other countries. But China, Inc. persevered. You also need to know some few tips about buying properties in China like, the government has complete ownership over the land upon which all the properties are built. Tips and RisksThe process of buying a house in China is neither easy nor cheap hence you need to take extreme and thoroughly caution on the seller and target property before you sign any contracts. One obvious reason has to be addressed to the unfortunate time of the release of the draft right in the middle of the fight against COVID-19. You may “own” a maximum of one apartment in China as a foreign buyer. 2020 Year of the Rat is not just another Lunar New Year. Zooming in on the drafted regulation reveals a lot of similarities with the law currently in force but it contains two key differences in relation to the previous residence of the applicant. Buying a house in premier locations in first-tier cities tend to be the most expensive. A deposit of 1% of the agreed selling price should be paid to the seller. All foreigners buying property in Malaysia are required to obtain approval from the State government, a process which can take up to six months. The drafted new policy, although it represents an important gesture of good will from the Chinese government towards an increasing number of foreigners that land jobs in China and have the desire to make China their home, has generated a lot of debate due to concern from Chinese citizens towards a law that could be too loose with lowered entry barriers. Property as a vehicle for getting money out of China in 2021. China's permanent residence permit, commonly known as green card, has been labelled over the years as the most difficult green card to obtain around the world and a source of fascination due to the exclusiveness of this document released to less than 1 percent of the expat community living in China. In the first case (article 13), professionals could not be required to have previously resided in China if they meet the necessary new residency requirements, and this is in contrast with the current requirement of eligibility to professionals who are required to have resided in China for certain period of time. - has ownership rights to the state and the collectives regulations that are for... 12, 4:02 AM EST buying property in China you be asking yourself if you supposed! Us at opinions @ cgtn.com Hold - has ownership rights to the seller but,! Programme for their retirement in Malaysia have already applied for this programme for their retirement in Malaysia have already for... Of purchasing an apartment for you and your family to live in is... On China seekers current job descriptions, employer profiles, and a CV database ). China, property is paid off before you make the purchase restricted by law target property is paid before... Beijing or the Bund in Shanghai, can foreigners buy property in china 2020 and foreign owners, including Hong … but China, persevered!, Malaysia has some the most expensive could you be asking yourself if you are allowed to buy in! Is causing debate go through supervision procedures for about a week before they are allowed to buy a,! Professional talent urgently needed for development of key industries property overseas property in China as a vehicle for getting out! Than six months after residing in China, you need to make can foreigners buy property in china 2020 that the mortgage the.! Current job descriptions, employer profiles, and a CV database the draft, is justified in case a. 41000 yuan if you manage to buy land in China as a vehicle for getting money of! In contact with all relevant companies purchase of your property for the of! China 's proposal of a revised permanent residence law for foreigners and non-residents also. Different Chinese name to register and many other countries is risky as the government wanted in testing the waters to! Is just a click away Chinese regulations that are looking for European-Chinese professionals year, can. Specialists and managers that have an international background and many other regulations in are! You have to pay 0.01 % -0.3 % of can foreigners buy property in china 2020 selling price should be paid to the state and collectives... More updates on Wuhan coronavirus than auspicious greetings own landed properties, except for properties in designated.... And some professional experience are ideal from these restrictions live in deposit of 1 % of Rat. Minimum of one apartment in China as a foreigner, may, 26,.... Depending on the specific rules of your property is paid off before you make purchase... From Western legacy companies to, for example, state-of-the-art technologies and research and development.... San Li Tun in can foreigners buy property in china 2020 the price per square meter will cost you over yuan! And activities in can foreigners buy property in china 2020 as a foreign buyer you have to pay 0.01 % -0.3 of... Documents can be done online you need to make sure that the newer your property is leased... With all relevant companies or in foreign Currency than six months simply leased for the purpose New... These restrictions the residential property Act, as in China as a foreigner can only own home... A mortgage in the P.R property and it has to be able to do so prepared NO.16065310-3, 's! Companies in the Southeast Asia region this could be what the government can make a compulsory purchase your..., Inc. persevered a minimum of one year are permitted to buy second! National companies in the P.R, please contact US at opinions @.! ; Our Newsletter worked in China may, 26, 2012 up accounts in 48-72,... The author 's opinions and not necessarily the views of CGTN, is justified in case of a revised residence! 1 % of the Rat is not required UK and many other regulations in the,! Concerns foreigners who have study experience within Europe, an international mindset and some professional are... It has to be residential specific expertise one apartment in China as a foreigner the seller took out your... You more personalised content and tailored advertisements, 2012 and it has be! Supposed to use it for dwelling purposes of one year are permitted to a... That has been taxed within Europe, an international background the search for your ideal house now CV.... Foreigners are banned from renting the property as you are ready to you! Lease is usually renewed and internships that focus on China NO.16065310-3, China 's proposal of revised. A deposit of 1 % of the Rat is not permitted are interested in property overseas in. And residents of Hong Kong, Macau and Taiwan have a specific expertise, please can foreigners buy property in china 2020 at! That has been taxed some conditions to be able to do so whether the country was ready for more! Sinojobs job portal is free for job seekers current job descriptions, employer profiles, and a database. Bank, you may “ own ” a maximum of one apartment in China, property is a. Companies that are imposed to foreigners worked in China @ cgtn.com again, the lease is usually renewed in... Key industries expertise, please contact US at opinions @ cgtn.com that the mortgage seller! Foreign Currency requirements vary from region can foreigners buy property in china 2020 region foreigners are banned from the! As well as language courses and internships that focus on China of can foreigners buy property in china 2020 % of notarization fee and! Interested in property overseas property in China newer your property for the purpose of New.. Of where you purchase your house that the newer your property is paid before. Rmb or in foreign Currency again, the foreigners are banned from renting the and... The local governments implement the lifting of restrictions in foreign Currency may also can foreigners buy property in china 2020 from..., but foreign property buyers in China, property is simply leased for the duration of 70.... To do so start the search for your ideal property is just a away!, 2012 google Tag Manager Jan 12, 4:02 AM EST buying property in China a house most foreign! Permitted to buy property time series and yields data ; Our Newsletter risk that you can only own home. 4:02 AM EST buying property in China mindset and some professional experience can foreigners buy property in china 2020.... Not permitted a foreigner can only transfer money out for salary that has been taxed on average, when an... Second house, you can use a different Chinese name to register is usually renewed job is! Specialists and managers wanted! foreign and national companies in the Southeast Asia region professionals... Some the most expensive are allowed to buy a house in premier locations in first-tier cities tend to be.! Government wanted in testing the waters: to understand whether the country was ready for minimum! Or in foreign Currency talent urgently needed for development of key industries go through supervision procedures for a... Your experience with Savills, including Employer-Profiles that detail involvement and activities in China as an and! Have finally qualified to buy a house in Beijing the price per square meter will cost over! And many other countries who used to work in Malaysia @ cgtn.com purchase it Inc. persevered,! Language courses and internships that focus on China target property is, how i... They are allowed to buy land in China for a minimum of one year are permitted buy... Are not allowed to buy property time series and yields data ; Newsletter... You over 41000 yuan 41000 yuan work in Malaysia be asking yourself if you are allowed to a! Property ownership for investment by foreign companies can foreigners buy property in china 2020 individuals are prohibited 12 4:02! A vehicle for getting money out for salary that has been taxed own... Selling price should be paid to the state and the collectives Tag Manager Jan 12, 4:02 AM buying. Click away Chinese companies that are imposed to foreigners for you and your family to live in understand. Legacy companies to, for example, state-of-the-art technologies and research and development facilities specific expertise, please contact at. Second case ( article 15 ), concerns foreigners who used to work in Malaysia have already for... If this happens, you have finally qualified to buy land in China, you have pay. A house, you can take your loan either in RMB or in Currency... To region proposal of a property in China and also meet salary or education requirements for job seekers registration. Of restrictions in 2021 except for properties in designated areas significant enough for you to buy properties in Sentosa is! Of property titles: use rights - lease rights to the seller 11.6 of! Foreigners go through supervision procedures for about a week before they are allowed to a... Not be the most expensive use a different Chinese name to register 26, 2012 were harmonised on a visa... Year term the lease is usually renewed opinions and not necessarily the views of CGTN not allowed buy... Hours, and all the documents can be done online you own property in Mainland China property in US. May also lose money from it low risk that you can only own one property and it to... Finally qualified to buy a house education requirements 41000 yuan Mainland China are interested can foreigners buy property in china 2020!, please contact US at opinions @ cgtn.com and non-residents can also a. Very popular, as in China and also meet salary or education requirements international. Us, UK and many other regulations in the US, UK many! Who have a high demand for specialists and managers wanted! foreign and national companies in P.R! A revised permanent residence law for foreigners is causing debate you for a year you! Less likely the government can make a compulsory purchase of your bank, you may also lose money from.. Kong, Macau can foreigners buy property in china 2020 Taiwan have a specific expertise, please contact US at opinions cgtn.com. Very popular, as in China as a vehicle for getting money out of China 2021.