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Q: Buying apartment in shanghai - foreigners formalities
Heard its difficult for chinese to buy apartment in shanghai. My wife told me its not possible to buy in her name.. however it might be possible for foreigners... with Residence visa.
My residence visa is at jiangsu for last 6 years....
Anyone have details of govt requirements/formalities?
Also heard some times the tax i paid on my salary could give some relaxation on tax while buying apartment... is that correct with shanghai?
It is difficult for Chinese to buy apartment in Shanhghai? Your wife told you that, of course not.
It is for Chinese much easier than for foreigners. I might think she don't have the requirements to buy (requirements = money)
Why you should buy in Shanghai, extremely expensive, affordability ratio is bad.
For a foreigner, good luck, it will take a while and find a good lawyer/notary otherwise you never will achieve it. So much formalities.
According to your post,it's because of the laws of Shanghai to limit the purchasing of house.If her family already has 2 houses in shanghai then she is not allowed to buy a new one.But I don't know the newest rules of that in Shanghai,maybe you can search 上海限购令 for more information
I bought a house in Huizhou. Yes foreigners can buy houses in China that have a legal working permit or a marriage permits. You cannot do it on the family visiting visa. Resident permit reign supreme and you can buy a house no problem. But the only requirement that will be tricky is a tax certificate that shows that you pay taxes in Shanghai. If you don't pay taxes in Shanghai you will have to get a fake tax receipt. I had to do the same thing. It will cost you about 6,000 RMB. This is a normal thing they do and all agencies or apartment sellers will know how to do this. But if your wife is from Shanghai then you are set no problem
Thakkudu:
neither me or my wife reside at shanghai... and i have paid tax in shanghai like 6 years back... after that always jiangsu :(
however moving to shanghai while continue working at jiangsu seems necessary due to child schooling options....
ironman510:
As long as you start paying taxes in Shanghai for 1 year you will have no problems buying a house, just make sure you get your chinese tax receipt after one year of working in Shanghai.
but I should mentionthat getting a loan in China is nearly impossible right now for foreigners. And my wife has been working for 6 years and she qualifies for a loan and I've been helping her pay her credit card for a long time because we use it all the time anyway and this helps build her credit history and this is what helped us get a loan to buy a house. And you can put your name and your wife's nameon the house title and in the future you can apply for a green card because you own a house and you have been married to your wife for over 5 years.
It might be hard for your wife to get a loan if she doesn't have any work history or recent work history.
