Buying a property in China

[anonymoose]

As far as I know, a foreigner is entitled to purchase a property in China if (s)he has resided in China for over one year.

Have any foreigners here purchased a property in China?

My question is, what kind of documentation is needed to prove having been resident in China for a year?

I lost my passport in February, and have had a new one issued since then. At that time, I had already been living in China for over one year, but now the replacement residence permit in my new passport only shows a matter of months. How did you show you had been resident for a year?

[Gary Soup]

I'm not sure there is a one-year residency requirement. Both my wife and her sister have bought property in Shanghai after becoming US citizens, but it might be different for them because they were former Shanghainese residents before immigrating to the US.

If there is such a residency requirement, the place where you got your original residence permit (district police station?) should have a record of it.

[simonlaing]

In January,

I with my Chinese wife bought a house in January.

I think they keep good records and the PSB will know the first time you came to China.

Espicially since most people keep the same passport number.

The bigger issue is that if you don't have a chinese spouse, getting a loan from a bank can be quite difficult if not impossible.

The deposit for most such loans was raised this year from 30 % to 40% for most 2nd hand not new houses.

For recently built it is still 30% I think.

The tax on the house transaction was also slightly more than if it was a chinese person doing the buying. The interest rate was the same though I think. Mortgage ended up being 2100 a month, 20 years, (but no penalty for early pay back, bonus)

Good Luck,

Simon:)

P.S. I bought in Nanjing a second tier city so the land and houses are cheaper here than downtown Shanghai.

[imron]

Espicially since most people keep the same passport number.

Not if you lose your passport. The original one is cancelled. Same goes when your passport expires. You get issued with a new number.

[muyongshi]

Espicially since most people keep the same passport number.

My US passport number changes every time I renew it...

[anonymoose]

Thanks for your info. I realise that the local PSB has a record of these things, but what I really want to know is, what specifically is it that is required to prove you have been resident for a year? Is it just the passport, or what?

[cdn_in_bj]

I've not done it myself, but I read somewhere that in order to prove that you meet the 1-year residency requirement, you need to get some sort of certification issued by your local exit-entry bureau. Also read that in some cases no one will stop you from forking over money for a property even if you can't show proof, but you'll run into problems trying to obtain the title and thus selling the property later as it's not legally in your name. So make sure that you do your homework and not totally rely on the word of the developer/agent. Good luck!

Edit: I found some info about additional things to consider when you buy/sell property here. They don't go into much detail about the proof of residency, but it's worth reading:

http://www.fareastconsulting.co.uk/page.aspx?page=services/investment/investment

[BrandeX]

but what I really want to know is, what specifically is it that is required to prove you have been resident for a year?

You'll most likely need a copy of your resident permit from the local PSB. They should be able to print you up a copy/form.

[anonymoose]

OK, thanks for the info everyone.