What are the restrictions for buying properties in China?

Before considering investing in the purchase of properties in China you should know that there is no private ownership of land and it can be owned only by the state or by collectivities. People obtain a right to use the land from the government directly at a state level or by the municipal authorities and these grants are from 40 to 70 years depending on the purpose to use the land – with residential purposes being granted the longest period. Foreigners are allowed to purchase a home in China only if they have worked or studied in the country for at least one year and of course they also cannot buy the land but just use it. And before being allowed to buy anything all non-Chinese undergo a supervision procedure that takes about a week.
 

China is one of the leading countries in economic terms and naturally seems like the right place for investments. This however is not such a good idea when it comes to buying property with the idea to make money out of it. Foreigners are not allowed to rent out houses or apartments. Even more, neither foreign companies nor individuals can own property for investment because this is prohibited by law. Only the citizens of Hong Kong and Macau and Chinese people living abroad are exempt from this restriction.
 

The requirements for buying a house in Beijing are not less than anywhere in China, so in this sense choosing the capital does not make things easier. As a foreigner who is purchasing property in China, you need to obtain a special certificate that is issued by the Beijing Municipal Public Security Bureau, which states that you have been studying or working in the country for at least one year. The law strictly requires that you use your real name and allows the property to be used as a place for living only by the person who buys it. If you are a legal entity – a foreign organization that opens a branch in Beijing and needs offices – then you should prove your legal status by a certificate and also guarantee in writing that the property is used only for your organization’s needs.
 

There are no restrictions when it comes to the type of property that you want to buy in China. It is also possible to use the services of an agent or buy directly from the owner or the developer. It is advisable to choose newly-built apartments or houses, because older property may be bought by the government or by developers if they need the land for new construction, from example.

To facilitate your choice, we recommend you visiting our website https://www.domaza.co.uk/properties_in_china/