Posted by
luisparis
18 yrs ago
Hi!
As I'm thinking of investing some money in Shenzhen real estate where my inlaws see their own properties' values increasing significantly, what are the possibilities to keep this under my name as a nonresident foreigner?
If not land, are foreigners allowed to own ( or lease on decently long term) condos and apartments? Than are there any limitations upon selling it?
Many thanks for all info
Luis
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A foreigner can only buy one residential property and that is after having already lived in China at least one year on a residence permit.
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" A recent regulation allows overseas residents who have worked or studied in China for more than a year to buy one housing unit for their own use"
http://english.gov.cn/2006-09/05/content_377506.htm
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WoDer has some intellectual issues. About a year and a half ago regulations were enacted that prohibit expats from buying anything other than one residential property -- which must be their primary place of abode in China -- and then only after having already resided at least one year in China on a residence permit (granted for work or study purposes). FunchallPP has provided the link.
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seal
18 yrs ago
Hong Kong Residents are excluded from this restriction.
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Maybe WodDer is local as his reply is not relevent to expats.
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ceeh
18 yrs ago
A couple of years ago a friend of mine bought an apartment 'off the plan' in Shenzhen. This property was an investment property so he rented it out once completed. He is French but a resident of Hong Kong.
Two weeks ago he sold that aparmtent and made heaps of $$$'s. Think he said he sold it for four times the price he initially paid for it.
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No, HK residents are not excluded. Neither are Taiwanese.
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