Jenny Zhang, Attorney at Law, Lawyer, Law firm in Dalian, China

If you want to set up a WFOE, you should offer the following documents:

1. the application paper and the resolution by the Board of the foreign investor
2. Feasibility Study report
3. Copies of the business licenses or certificates of incorporation of the foreign investor (with local notarization and verification of Chinese Embassy).
4. A copy of leasing agreement and the certificate of the real estate
5. A copy of Notice of enterprise’s name confirmation appraised by the Industry & Commerce Administrative Bureau.
6. Letter of Appointment of Directors, Directors name list and copies of their passports
7. Articles of Association
8. Credit Certificate issued by bank
9. Power of Attorney for delivery of documents

Recently,  a lot of my foreigner friends just consult how to get a “green card” in China. So here I just extract some details about Measures for Administration of Examination and Approval of Foreigners’ Permanent Residence in China.

 In accordance with Article 6 of the above Measures, those who want to apply Chinese green card shall abide by Chinese laws, be in good health and without criminal record, and also shall meet at leat one of the following requirements:

1. having made direct investment in China with stable operation and a good tax paying record for three successive years;

2. having been holding the post of deputy general manager, deputy factory director or above or of associate professor, associate research fellow and other associate senior titles of professional post or above or enjoying an equal treatment, for at least four successive years, with a minimum period of residence in China for three cumulative years within four years and with a good tax paying record;

3. having made a great deal and outstanding contribution to and being specially needed by China;

4. Being the spouse or unmarried child under 18 years old of a person with reference to the item (1),(2)or (3) of this paragraph.

5. Being the spouse of a Chinese citizen or of a foreigner with permanent residence status in China, in a marriage relationship for at least five years, with at least five successive years of  residence in China and at least nine months of stay in China each year, and having stable source of subsistence and a dwelling place.

6. Being unmarried minors who are dependent on their parents; or

7. Being over sixty years old, have no direct relations abroad, are dependent on direct relations inside China and they have lived in China for five years during which they have spent at least 9 months per year in China and they have a stable income and residence.

In order to qualif paragraph 1 above, the minimum investment requirements, which the investor must satisfy, are investment of:

• US$500,000 in the encouraged category of industries;

• US$500,000 in China’s western region or in poor counties that the state has singled out for development;

• US$1 million in China’s central region; or

• US$2 million in China;

The Notarization Law of the PRC provides a basic legal frameword for notarization in China. According to the Law, all notarization must be conducted by licensed notaries public, which are definced under the Law as non-profit, independent institutes established in accordance with law and subject to the approval of provincial justice administrations. A notary public is permitted to notarize contracts, company articles of association, and documents relating to inheritance, trust, declaration, gift, property division, bidding and tendering, auction, marriage and family relationship, conservation of evidence, etc.

In most countries public notaries are also practising solicitors. In China, the notary has not expanded into other areas of legal work and is a separate profession. Therefore, if you need a official notary service, please go to local notary office, not the law firm.

In Dalian, you can choose Dalian Notary Office, which located in 263, Huanghe Road, Xigang District, or other notary office in each district. The charges and fees sometimes differ.

Hello, I am an American working in Dalian. I have been here for two years, and I intend to buy a new or resold apartment for my own use or for rent. Is there any special regulation for foreigners and what materials should be prepared in advance? Moreover, can I pay the price on installment

Replies

In accordance with laws and regulations of PRC, foreign individuals who purchase housing in China have to meet four requirements:

1. The real property title registration department must carry out the title registration procedures for foreign individuals.

2. Foreign individuals have worked or studied in China for more than one year.

3. Foreign individuals must use their true names

4. Commodity premises are for their own use or for their own residence.

The documents that need to be prepared include:

1.  Valid passport and the Certification Letter of Foreign Individual’s Stay Status in China issued by the Entry and Exit Administration Office of Dalian Public Security Bureau.

2.   A written commitment that the purchase is in line with actual needs, for his own use or his own residence.

Therefore, in your case, your conditions can meet those requirements. But the apartment can only for your own use, not for rent.

Besides, banks like East Asia Bank and HSBC have run relevant mortgage businesses to provide credit for foreigners. But the rate mortgage varies from different banks. For more information, please consult the departments concerned in the banks.