Notice on Regulating the Purchase of Commodity Premises by Foreign Entities and Individuals

Notice on Regulating the Purchase of Commodity Premises by Foreign Entities and Individuals
Jan 21, 2008 00:30
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	Construction Committees (House Administration Bureaus), Foreign Affairs Offices, Public Security Bureaus, Local Administrations for Industry and Commerce, Commerce Bureaus of all Districts and Counties: According to the Decision on Regulating the Entry into and Administration of Foreign Investment in the Real Estate Market (JianZhuFang [2006] No.171) issued by Ministry of Construction, Ministry of Commerce, National Development and Reform Committee, People's Bank of China, State Administration for Industry and Commerce and State Administration of Foreign Exchange, we hereby issue the detailed procedures on processing the presale registration and title transfer registration for commodity premises by the foreign entities and individuals as follows: 1. Foreign Individuals' Purchase of Commodity Premises for Self Residential Purpose If any foreign individual (including Hong Kong, Macau and Taiwan residents and overseas Chinese) intends to purchase commodity premises, besides the documents required by the real estate title administration authorities, he/she shall also provide one original and one copy of the following documents when carrying out presale registration and title registration procedures: 1)Hong Kong and Macau residents shall provide the Hong Kong Permanent Resident Card or Macau Resident Card, and the Mainland Travel Pass for Hong Kong and Macau Residents. Overseas Chinese shall provide valid Chinese Passport and the residence paper of his/her country of residence. Taiwan resident shall provide effective Mainland Travel Pass for Taiwan Residents. Any Hong Kong and Macau residents and overseas Chinese shall also provide the Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau. 2) Foreign Individuals shall provide valid passport and the Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau. 3) Any people from other country's embassies in China or representative offices of international organizations in China with diplomatic privilege and immunity shall provide the Note from Ministry of Foreign Affairs that allows him/her to purchase the commodity premises. Except as otherwise specified in laws and regulations elsewhere, a foreign individual can buy one commodity premises in Beijing only for self residential purpose. Real estate title administration authorities will check and verify the foreign individual's purchase status through the municipal unified information sharing database.

Jan 21, 2008 00:30

JIMMYB
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Join Date: Feb 7, 2007
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Construction Committees (House Administration Bureaus), Foreign Affairs Offices, Public Security Bureaus, Local Administrations for Industry and Commerce, Commerce Bureaus of all Districts and Counties:
According to the Decision on Regulating the Entry into and Administration of Foreign Investment in the Real Estate Market (JianZhuFang [2006] No.171) issued by Ministry of Construction, Ministry of Commerce, National Development and Reform Committee, People's Bank of China, State Administration for Industry and Commerce and State Administration of Foreign Exchange, we hereby issue the detailed procedures on processing the presale registration and title transfer registration for commodity premises by the foreign entities and individuals as follows:
1. Foreign Individuals' Purchase of Commodity Premises for Self Residential Purpose If any foreign individual (including Hong Kong, Macau and Taiwan residents and overseas Chinese) intends to purchase commodity premises, besides the documents required by the real estate title administration authorities, he/she shall also provide one original and one copy of the following documents when carrying out presale registration and title registration procedures:
1)Hong Kong and Macau residents shall provide the Hong Kong Permanent Resident Card or Macau Resident Card, and the Mainland Travel Pass for Hong Kong and Macau Residents. Overseas Chinese shall provide valid Chinese Passport and the residence paper of his/her country of residence. Taiwan resident shall provide effective Mainland Travel Pass for Taiwan Residents. Any Hong Kong and Macau residents and overseas Chinese shall also provide the Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau.
2) Foreign Individuals shall provide valid passport and the Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau.
3) Any people from other country's embassies in China or representative offices of international organizations in China with diplomatic privilege and immunity shall provide the Note from Ministry of Foreign Affairs that allows him/her to purchase the commodity premises. Except as otherwise specified in laws and regulations elsewhere, a foreign individual can buy one commodity premises in Beijing only for self residential purpose. Real estate title administration authorities will check and verify the foreign individual's purchase status through the municipal unified information sharing database.

Jan 21, 2008 00:30

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: Offline

2. When carrying out the presale registration and title registration, foreign entities that purchase commodity premises for self use purpose shall provide, in addition to the documents required by the real estate title administration authorities, the Business Licenses or Registration Certificates of their Beijing branches or representative offices. Other country's embassies in China or representative offices of international organizations in China shall provide the Note from Ministry of Foreign Affairs that allows it to purchase the commodity premises.
3. When foreign entities or individuals purchase commodity premises for self use or residential purpose and during the presale registration and title registration process, the entities or individuals shall present a commitment letter representing and warranting that the proposed purchase is for self use or residential purpose. Such premises shall not be leased or sold after purchase. However, if the Beijing branches or representative offices of foreign entities are cancelled, the premises of the branches or representative offices can be sold and the title can be transferred.
4. If a foreign entity or individual intends to purchase commodity premises for uses other than self use or residential purpose, it shall apply to set up a foreign invested enterprise in China in accordance with relevant regulations on foreign investment in real estate market and in line with the commercial presence principle. Such a foreign entity or individual, when carrying out the presale registration and title registration, shall provide, besides the documents required by the real estate title administration authorities, the Foreign Invested Enterprise Approval Certificate issued by the Commerce Bureaus and Business License issued by the Administrations for Industry and Commerce. If any foreign entity or individual wants to lease or sell the commodity premise that is originally purchased for self use or residential purpose, the above mentioned principles shall apply.

Notice: The contact information of Elite (Beijing) Realty Co., Ltd. is, Elena Lou General Manager

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