Entrust a real estate lawyer to manage your houses/apartments in Shanghai

With the financial crisis biting, we see many expats go back home, leaving their houses in Shanghai empty or ill-managed by unprofessional people.

It is a great waste to leave it empty and it is a great risk to have your home managed by unprofessional people.

Now, you have a better choice, hiring a lawyer to manage your properties during your absence. We are real…

foreigners have right to own property by way of gifting, inheritance in China

Many foreigners are aware that China has enacted rules restricting their purchase of real estate/houses/apartments. Foreigners are not allowed to buy more than one residential property (for self-using purpose only).

Very often foreigners asked me about whether they are allowed to own property in China as a result of gifting, inheritance from their family…

Sell your properties in China

Well, I don’t want to be sounding like an alarmist by claiming that it is time to sell your properties in China because the real estate market in China is going to collapse soon. But it will be not inappropriate to remind people that China property market is really at a point where it may turn out against your interests eventually if you don’t back out timely.…

taxation measure to curb real estate market

Though there is plenty of moaning and groaning in the real estate market in China, due to the central government’s tight monetary policy, it seems the tether is going to be further tightened. In a new effort stepped up by the central tax ministry, a new circular was issued on April 7, 2008 regarding the prepayment of income tax by property developers.

The new …

Shifts in real estate taxation affecting your investment

Recently this year saw a string of shifts in tax policies that affect businesses in China, in particular, foreign invested enterprises.

â…  City and Township Land Use Tax

At the end of the year of 2006, the state cabinet revised the Interim Regulation of the People’s Republic of China on the City and Township Land Use Tax and the revised version came into force…

Pre-registration system in Chinese property law

1. Provision in the law

On October 1, 2007, the Property Law of China comes into effect, a landmark event in China’s legislation history and in the cause of establishing rule of law in China.

Among those shining points in this new law, I single out and introduce the pre-registration system for your reference.

Article 20 of the Property Law provides:

“the parties…

Lease contract registration

Recently one of our clients complained to us that the real estate exchange center (an authority in charge of real estate registration, “Exchange Centre”) refused to accept their lender-approved lease contract designed for their service apartment project simply because their lease had not adopted the Shanghai model lease contract form. Without such…

Land Regulation Framework in China

1. types of land
According to the Land Law of the People’s Republic of China, effective as from January 1, 1999 (the “1999 Land Law”), land in China is basically categorized into three kinds, namely, agricultural land, construction land and unutilized land. The agriculture land refers to those directly used for agricultural production, including …

Heavy maze over house prices

News in the media has been divided in guesstimating where the house prices are going. Very often, good news and bad news appear on the same webpage, leaving readers in sway.

Confusion is thick especially in the residential property markets with transaction volume being reported to go down sharply in May which used to be a “red month” meaning golden time for…

Deed tax exemption clarified

The China State Administration of Taxation issued on May 26, 2008 the Circular on Deed Policy relating to Assignment of Assets to Wholly Owned Subsidiary from Parent Company, clarifying a situation where deed tax is exempted.

The circular is to the effect that, where a company increases the registered capital of its wholly owned subsidiary through contributing…

Supreme court seeking comments to judicial interpretation draft relating to condominium ownership

On June 16, 2008, the People’s Supreme Court of China published the Interpretation on Several Issues regarding Application of Law in Trial of Cases Involving Condominium Ownership (the “Condo Interpretation”) and asked for public comments thereof. The original Chinese text of the draft Condo Interpretation is on the following website:

Central government stepped up measures to boost property market

Yesterday, China state cabinet issued the Several Opinions on Boosting Healthy Development of the Property Market (the “Opinions”), in a bid to boost the bearish property market which had been the engine industry for the Chinese economy.

The key point in the Opinions that grabs common homeowners’ attention is the change in policy regarding the time…

SDRC new circular aiming to rein in fake investment

On July 8, 2008 the State Development and Reform Commission issued a circular, namely, Circular on Further Strengthening and Regulating Foreign Invested Project Management (“Circular”), in a bid to rein in the flood of speculative hot money into China by means of fake joint venture, submission of false total investment amount or setting up shell companies…