SHANGHAI -- China has relaxed rules on property sales to foreigners, in a move seen as aimed at boosting the country’s real estate sector amid a slowing economy. What are the procedures and formalities?? This means foreign companies and individuals can own real estate in China only through a Foreign Invested Enterprise (FIE), such as a Wholly Foreign Owned Entity (WFOE) or through an Equity or Contractual Joint Venture (JV). Renting out their property still falls in a legal gray area. The municipal authorities of Shanghai lifted the restriction on July 2001, Beijing followed on August 2002. From country estates to city apartments, your ideal property is just a click away. Foreigners are not allowed to purchase as many properties as they wish. Expat Restrictions. The legal paperwork involved in buying property in China as a foreigner is far more complex than that of most Western countries. The policy regarding foreign companies and individuals purchasing property in China has gone up and down a lot in the past decade. Property ownership for investment by foreign companies and individuals are prohibited. Properties for sale in Shanghai, China from Savills, world leading estate agents. Moreover, they will be charged a 0.1 to 0.3 percent notary fee. Property investors may only obtain the right for land use through a 70-year term land lease. As an expat, you need to prove that you're legally working in China and have lived in China for more than 12 months. This rule was established after an abundance of foreign home buying and property investment. Foreign companies (wholly foreign owned enterprises) in China are limited to the real estate activities they can engage in, many are operating as housing consultancy companies which means they can legally provide a consultancy service and help you find a apartment to rent in Shanghai. A-shares are traded in renminbi in the Shanghai and Shenzhen stock exchanges, while B-shares are traded in foreign currencies. In 2006, the government imposed a rule that prohibited foreign citizens working and living in China for less than a year from purchasing a home. Arts & Entertainment (1387) Business & Jobs (2162) ... is it easy for a foreigner to buy a house in China?? Chinese living overseas and residents of … Since 2010, foreign buyers have to pay a 7 percent urban maintenance tax as well when buying a property in cities. At long last, you can be your own landlord. Shanghai property transaction centers can make up own rules on trading on the basis of these policies, according to Shanghai Municipal Housing, Land and Resource Administration Bureau. Foreigners cannot be landlords. 9 years 22 weeks ago in Business & Jobs - China. Though there are no detailed rules and standards for measuring how big a house a foreigner can buy, as a general principle, a foreign individual qualified to buy property shall only buy residential property for … Residential property not for personal use is considered commercial real estate and its ownership is similarly restricted. Beijing Shanghai Guangzhou Shenzhen Chengdu Xi'an Hangzhou Qingdao Dalian Suzhou Nanjing More Cities>> Categories. Previously, A-shares were typically only available for Chinese citizens to purchase (though some foreign institutions were given permission to buy them in 2003). Under current laws foreigners are allowed to buy one property for personal use. When buying a property, you must sign a document saying the house’s purpose is for you to live in, but in practice, many people do lease out their properties. Legal gray area 2010, foreign buyers have to pay a 7 percent urban tax! 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