New busniess startup visa being trialled in Shanghai

New busniess startup visa being trialled in Shanghai

A new “business startup visa” has been piloted across select districts in Shanghai, giving foreign entrepreneurs the ability to live in China as they establish a business.

New busniess startup visa being trialled in Shanghai

In May 2018, the Shanghai Public Security Bureau updated the policies for a new ”Private Residence Permit (entrepreneurship)”, commonly referred to as the “business startup visa” (创业签证) , which offers foreigners a chance to establish a new and innovative startup business within Shanghai.

This visa is valid for one year, but can be extended for a further one year if the foreign entrepreneur is able to demonstrate the successful incorporation of a company within this time. Alternatively, this visa can be transferred to a work permit once the company is set up.

To date, the visa has only been piloted in certain districts in Shanghai, including Changning and Yangpu.

Scope of startup visa:

The business startup visa is unique in that its scope of eligibility is expansive — it includes individuals who have traditionally been excluded from many other visa categories, such as inexperienced graduates and individuals older than 60 years old.

Compared to traditional work permits,the business startup visa also gives investors and key management staff alike flexibility in conducting auxiliary business activities such as market research, business development, staff recruitment, lease searching, initial company setup procedures, etc. before getting the company legally established.New busniess startup visa being trialled in Shanghai

Note:

1.This visa is valid for one year, but can be extended for a further one year if the foreign entrepreneur is able to demonstrate the successful incorporation of a company within this time. Alternatively, this visa can be transferred to a work permit once the company is set up.

2. To date, the visa has only been piloted in certain districts in Shanghai, including Changning and Yangpu.

3. The business startup visa is unique in that its scope of eligibility is expansive — it includes individuals who have traditionally been excluded from many other visa categories, such as inexperienced graduates and individuals older than 60 years old.

4. Compared to traditional work permits, the business startup visa also gives investors and key management staff alike flexibility in conducting auxiliary business activities such as market research, business development, staff recruitment, lease searching, initial company setup procedures, etc. before getting the company legally established.

The following people are eligible to apply for the business startup visa:

Besides current students and professors, graduates with a degree from the world’s top 300 universities ranked by the Center for World-Class Universities at Shanghai Jiao Tong University can get the “entrepreneurship visa” within two years of graduation to live and work in Shanghai.New busniess startup visa being trialled in Shanghai

Foreign students:

Foreign students who have the willingness to innovate and start a business in Shanghai and graduated from a higher education institution in China

Foreign entrepreneurs:

Foreign entrepreneurs with a business plan and documents proving their investment and source of income can also apply.

Excellent overseas graduates:

They are from top Chinese universities or world-renowned universities who have been graduated for no more than two years but have made outstanding achievements in innovation and entrepreneurship in Shanghai.

Besides these special requirements, most of the required documents are similar to that required of other types of visa applications.Earlier this year,Shanghai also rolled out preferential visa and green card policies and business establishment incentives for top foreign talent.

However, Shanghai is far from the only Chinese city to launch visa incentives for foreign talent.Beijing and Yunnan province, for example, are among the regions that have released policies this year to attract high-end foreign talent.

Keywords: China Expat,expat in china,learn Chinese ,Chinese culture ,China jobs ,China travel, 外国人在中国

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