Shenzhen City, Circular on Regulating the Purchase of Commodity Premises by Foreign Organizations and Individuals

深圳市关于规范境外机构和境外个人购买商品房的通知

July 02, 2007 | BY

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Foreign purchases of real property in Shenzhen restricted.

Clp Reference: 4100/07.07.10 Promulgated: 2007-07-10 Effective: 2007-07-10

Issued: July 10 2007
Effective: As of date of issuance

Main Contents: The conditions for foreign organizations and individuals to purchase commodity premises for their own use and residence in Shenzhen are as follows:

(1) a foreign organization that is a branch or representative office already established in Shenzhen (excluding enterprises that have been approved to engage in real property business) may purchase only commodity premises required for business (business type);

(2) a foreign individual (excluding residents from Hong Kong, Macao and Taiwan region and overseas Chinese) who has worked or studied in China for over one year may purchase only one set of commodity premises for his/her own residence (residential premises type); or

(3) a resident from Hong Kong, Macao or Taiwan or an overseas Chinese may purchase only one set of commodity premises for his/her own residence (residential premises type) unless stipulated otherwise by laws or regulations (Article 1).

Foreign organizations and individuals that invest in or purchase real property in Shenzhen not for their own use shall apply to establish a foreign-invested enterprise and engage in the relevant business according to the approved business scope (Article 2).

Related Legislation: Opinions on Regulating the Entry of Foreign Investment into the Real Property Market and the Administration Thereof, July 11 2006, CLP 2006 No.7 p.35; Circular on Issues Relevant to Regulating Foreign Exchange Control in Relation to the Real Property Market, Sept 1 2006, CLP 2006 No.8 p.6; and Circular on the Issue of the (Version for Banks and Foreign Exchange Bureaux), 2007

clp reference:4100/07.07.10/SZpromulgated:2007-07-10effective:2007-07-10

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