Can Foreigners Purchase Property in China？
KEY TAKEAWAYS:
- To purchase property in Shanghai, Guangzhou and Shenzhen, foreign buyers must have worked in the city for at least one year, while Beijing, Hangzhou, Wuhan only requires the foreign buyer to work in the city without a time limit.
- The Nanjing, Suzhou governments have lifted restrictions on foreigners buying property in their city.
- Additionally, most cities require that the foreign buyers and his/her families do not own any other property in China.
- The property must meet certain requirements before it can be sold to a foreign buyer.
1. Qualifications of Shanghai
- The foreign buyer shall have signed the labor contract with a Shanghai company for a period of more than one year;
- Shall have continuously paid individual income tax or social security in Shanghai for at least one year (the foreigners with permanent resident ID card are exempt from this requirement)
- Possess a work visa or resident permit for work;
- The foreign buyer and his/her family must not own any other houses in China.
- The purchased house must be only for self-occupation.
- The foreigner buyer is limited to purchasing one house at most.
- For further information, please contact 021-962269.
2.Qualifications of Beijing
- Possession of work visa, journalist visa, or permanent resident ID card (regardless of the duration);
- Temporary accommodation registration form issued by the police station;
- Only one house can be purchased.
- Check whether your eligibility to buy a house in Beijing on the website of Beijing House Qualification Verification Platform(http://gfzg.zjw.beijing.gov.cn/login.aspx)
3. Qualifications of Guangzhou
- Employment contract or certificate from Guangzhou company that confirms your employment for at least one year;
- Resident Permit that is valid for at least one year;
- Work visa or work permit；
- The buyer and his/her family do not own any other houses in China.
- The purchased property is only for self-occupation.
4. Qualifications of Shenzhen
- Work permit which has been valid for more than one year, unless the foreigner holds a permanent resident ID card.
- The buyer and his/her family do not own any other houses in China.
- The purchased property is only for self-occupation.
- Only one house can be purchased.
5. Qualifications of Suzhou
- Suzhou government has lifted restrictions on foreigners buying houses in Suzhou starting in 2023. There are no other qualification requirements, such as work visa or social security, for foreigners to buy a house in Suzhou.
- However, foreigners are limited to purchasing a maximum of three houses, each less than 120㎡. There are no restrictions of quantity on houses larger than 120㎡.
6. Qualifications of Hangzhou
- Work or study in Hangzhou (no requirements for the period)
- Hold a resident permit in Hangzhou
- The buyer and his/her family do not own any other houses in China.
- Only one house can be purchased.
(2) For other districts
- No restrictions
7. Qualifications of Nanjing
Nanjing government has lifted restrictions on foreigners purchasing houses in Nanjing starting in 2023. There are no additional qualifications, such as work visa, purpose, amount.
8. Qualifications of Chengdu
- If the house is less than 144㎡ and located in the district of Tian fu, High-tech Zone South Park, Jinjiang, Qingyang, Jinniu, Wuhou, Chenghua
The buyer must have continuously paid social security for at least six months
- If the house is more than 144㎡ or located in districts other than those mentioned above.
No restrictions
9. Qualifications of Wuhan
- Work or study in Wuhan (no requirements for the period)
- Individuals are limited to purchasing only one house for self-occupation.
10. Requirements of the Property
Foreigners purchasing a new property must confirm that it has a valid permit to be sold to foreigners. If purchasing a secondary property, they must check if the transaction can be approved by the local National Security Bureau.
If you need any legal advice or legal service of purchasing real estate in China, please feel free to contact us.
Saway Wang
Email: sawaywang@billionslawyer.com
Tel/Whatsapp: +86 18017682422
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