I want to buy property in Shanghai....the problem is i have not worked or studied here for the previous 1 year, as the policy states i must have before i can purchase property as a foreigner in Shanghai. I have been here for 3 years on an F Visa (left the country a few times during that span....neverl left more than 2 months at a time)

I have gone to see a few real estate agents and they all say that there are loopholes around this foreigner policy. They said they can make up a working contract for me and i pay "back taxes" for the past year. They said i dont even need to get a Z working visa.

They said i have nothing to worry about then.

I dont really trust this way as its not 100% legal (i guess its kind of gray) I dont wanna end up losing a deposit or real estate agent fees.

I know alot of people are untrustworthy here and will do anything to make money. However, they did say i can put a clause in the contract that states for any reason related to government denial, i can get my down payment back from the seller.

I will pay for the property 100% in cash and its intended for my living use only.

Does anyone have any suggestions on whether i should go this illegal route or anyone have experience similar to mine?


Thanks in advance.

Well paying 100% cash makes it easy as you won't need to qualify for loan. The deal with faking employment seems rather dicey if anyone along the way decides to check your visa status, it's pretty obvious that you weren't really legally employed here. What they tell you they would put in the contract, once money changes hands, its extremely possible that you would never see the money again whether it works or not. You need find out the actual criteria for presence in China, does it mean Z visa working permit, does it mean paying taxes, would F visa count?

Some of the real estate pros on the board would probably know more.

It means... "One year of legal residence on a Work Permit and Residence Visa"

OP, so, you want to spend 3 ml (~half million dollars) rmb for buying property without legit papers ?

Hmmm...

In other hand, this money may bring you 3%/year from bank deposit. 90k rmb/12 = 7.5k rmb/m

It's ok for renting good apt. I would await 1 year.

IMHO.

get married.

You will lose 50% of the property value...

Better than lose 100%

dcy2010 wrote:I want to buy property in Shanghai....the problem is i have not worked or studied here for the previous 1 year, as the policy states i must have before i can purchase property as a foreigner in Shanghai. I have been here for 3 years on an F Visa (left the country a few times during that span....neverl left more than 2 months at a time)

I have gone to see a few real estate agents and they all say that there are loopholes around this foreigner policy. They said they can make up a working contract for me and i pay "back taxes" for the past year. They said i dont even need to get a Z working visa.

They said i have nothing to worry about then.

I dont really trust this way as its not 100% legal (i guess its kind of gray) I dont wanna end up losing a deposit or real estate agent fees.

I know alot of people are untrustworthy here and will do anything to make money. However, they did say i can put a clause in the contract that states for any reason related to government denial, i can get my down payment back from the seller.

I will pay for the property 100% in cash and its intended for my living use only.

Does anyone have any suggestions on whether i should go this illegal route or anyone have experience similar to mine?


Thanks in advance.

You are right. I don't trust real estate agent so suggest you look for seller directly. I don't know how large you want buy.

Mr Totomolo wrote:get married.

You will lose 50% of the property value...

Better than lose 100%

hahaha