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strategy

Beijing Announces Visa and FDI Incentives to Attract Foreign Talent

Beijing has announced new visa, residency, and foreign investment incentives in ...

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finance

China Slashes VAT Rates in US$64 Billion Tax Cut

China will cut value-added tax (VAT) rates for businesses in ...

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profile

New partnership to grow Chinese tourism in NZ

Christchurch Airport and Auckland Tourism, Events and Economic Development (ATEED) ...

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commentary

Chinese authorities intercept 120 trays of fake Zespri product at...

Chinese government officials have intercepted 120 trays of fake Zespri kiwifruit being ...

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general

Mandarin language assistants welcomed

Forty eight Mandarin Language Assistants were officially welcomed to New Zealand ...

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China Grants Foreign Talents Permanent Residence Permit

Profile

On July 1, the Shanghai Public Security Bureau Entry & Exit Department released a new regulation, relaxing the requirements for eligible foreign talents (experts) to obtain permanent residence permits. These individuals need to meet the following criteria:

Yearly income of over RMB 600,000 (US$97,000)

Yearly income tax of over RMB 120,000

Have worked in Shanghai for more than four consecutive years, and spent no less than six months of each of the four years in China

Besides, foreigners employed by any of the 3,500 firms listed on the official website of the Shanghai Science and Technology Commission will also be allowed to apply for the permanent residence permit. Previously, only foreigners hired as senior executives in high-tech industries and professors at academic institutions were eligible to apply for a permanent residence permit in China. Furthermore, foreign students who have graduated from Chinese universities may apply for a private affair’s residence permit with “entrepreneurship” for two years.

China Briefing