Shanghai Municipality, Tentative Provisions for Regulating the Purchase of Commercially Developed Residential Premises by Enterprises
上海市关于规范企业购买商品住房的暂行规定
October 03, 2018 | BY
Susan MokEnterprises are restricted from purchasing housing in Shanghai
Issued: July 2 2018
Effective: July 3 2018
Main contents: An enterprise that proposes to purchase commercially developed residential premises in Shanghai shall satisfy all of the following conditions, the date of purchase being determined by the date of online execution and record filing of the contract:
- the enterprise has been established for at least five years;
- the cumulative amount of tax paid by the enterprise in Shanghai has reached Rmb1 million; and
- the enterprise has at least 10 staff members and workers and, in accordance with provisions, they have paid social insurance premiums and contributed to the housing reserve with the enterprise for at least five years.
If the amount of tax paid by the enterprise in recent years is at least Rmb5 million, it shall not be subject to the foregoing conditions on the number of years since establishment or the number of employees when purchasing housing (Article 1).
The number of years before which the commercially developed housing purchased by an enterprise is again placed on the market for sale is increased from “at least three years” to “at least five years” (Article 2).
clp reference:4100/18.07.02 issued:2018-07-02 effective:2018-07-03
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