Ministry of Housing and Urban-rural Development and State Administration of Foreign Exchange, Circular on Further Regulating the Administration of Premises Purchases by Overseas Organisations and Individuals

住房和城乡建设部、国家外汇管理局关于进一步规范境外机构和个人购房管理的通知

December 14, 2010 | BY

clpstaff &clp articles &

Overseas organisations and individuals restricted from purchasing property.

Clp Reference: 4110/10.11.04 Promulgated: 2010-11-04

Issued: November 4 2010

Main contents: The Circular states that the purchase of residential premises by foreign organisations and individuals shall be further regulated:

(1) Foreign individuals may purchase only one unit of residential premises for self use in China. Foreign organisations that have set up branches or representative offices in China may purchase only non-residential premises for office purpose in the cities where they are registered.

(2) When handling record filing of pre-sale contracts of commodity premises and premises title registration of foreign individuals, the department in charge of real property shall examine the following documents:

(i) a proof issued by the relevant departments evidencing that the foreign individuals (excluding residents of Hong Kong, Macao and Taiwan, and overseas Chinese) have been working in China for more than one year, or a proof of work, study or residence in mainland China of residents of Hong Kong, Macao and Taiwan, and overseas Chinese; and

(ii) a written undertaking by the foreign individuals that they do not own any other residential premises under their names in China.

(3) When handling the record filing of pre-sale contracts of commodity premises and premises title registration of foreign organisations, the department in charge of real property shall examine the following documents:

(i) approval documents for, and registration certificates of, the establishment of branches or representative offices in China issued by the relevant departments; and

(ii) a written undertaking by the foreign organisations that the purchased premises are for actual office purpose.

Related legislation: State Council, Circular on Determined Suppression of the Exceedingly Rapid Rise of Certain Urban Housing Prices, Apr 17 2010, CLP 2010 No.4 p.45; and Opinions on Regulating the Entry of Foreign Investment into the Real Property Market and the Administration Thereof, Jul 11 2006, CLP 2006 No.7 p.35

clp reference:4110/10.11.04promulgated:2010-11-04

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