Uptake Strong For New Shanghai Visa Opportunity

By Hans Esser, for Expatbriefing.com 19 October, 2016

An increasing number of foreigners have applied for a Chinese "green card" since a change to rules in Shanghai in July 2015.

New rules introduced in July last year allow applications from foreigners who have lived in the city for four years, earn a gross salary of least CNY600,000 (USD97,000), and pay at least CNY120,000 (USD17,805) in tax each year. Previously, only business executives, scientists or academics were entitled to apply for permanent residence permits.

Since then, and up until September 2016, 300 foreigners in Shanghai had applied for a Chinese "green card," and 184 applications had already approved, city authorities said.

The Shanghai Exit-Entry Administration Bureau said half of the current applicants are business owners, high-level executives, and general managers, and 30 percent are managers. The others are "high earners" such as doctors and pilots.

Just under a third of applicants are from companies with registered capital of at least USD10m, with 15 percent from companies with registered capital over USD100m.

Almost 80 percent are from developed countries with 65 percent ethnically Chinese with foreign passports.

The Bureau said it was also processing requests from 218 applicants' relatives.

Meanwhile, 22 foreign housekeepers have also been granted residence permits under the new rules allowing them to work for holders of five-year work permits or permanent residence permits in Shanghai.

Tags: Expatriates | Tax | Business | China | Professionals | Trade | Immigration | Investment | Visas And Passports | Invest | Immigration | Investment |

 





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