A business start-up visa has been piloted across a number of districts of Shanghai to enable foreign entrepreneurs to live in China as they establish a new business.
The new Private Residence Permit (entrepreneurship) is valid for one year but can be extended for a further 12 months if the foreign entrepreneur can demonstrate that their company has incorporated successfully within this timeframe. Alternatively, the visa, which has been piloted in certain Shanghai districts such as Changning and Yangpu, can be swapped for a work permit once the company has been set up.
It is the first time this kind of visa has included individuals traditionally excluded from other visa categories, such as inexperienced graduates and individuals who are older than 60. The visa also gives investors and key managers flexibility when conducting auxiliary business activities such as market research, business development, staff recruitment, lease searching and initial company set-up procedures before establishing it legally.
According to Dezan Shira's China Briefing, the following people are eligible to apply for the business start-up visa:
- Foreign students who graduated from a higher education institution in China and are willing to start an innovative business in Shanghai;
- Foreigners planning to invest in Shanghai or introduce business innovation;
- Excellent overseas graduates from top Chinese or world-renowned universities who obtained their degree no more than two years ago but have demonstrated outstanding achievements in terms of innovation and entrepreneurship in Shanghai.
To obtain the business start-up visa, applicants are required to submit an entrepreneurship- or investment-related certificate from a range of economic development zones, high-tech parks or corporate incubator spaces designated by the government.
Earlier this year, Shanghai also rolled out preferential visa and green card policies and business establishment incentives to attract top foreign talent.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
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A business start-up visa has been piloted across a number of districts of Shanghai to enable foreign entrepreneurs to live in China as they establish a new business.
The new Private Residence Permit (entrepreneurship) is valid for one year but can be extended for a further 12 months if the foreign entrepreneur can demonstrate that their company has incorporated successfully within this timeframe. Alternatively, the visa, which has been piloted in certain Shanghai districts such as Changning and Yangpu, can be swapped for a work permit once the company has been set up.
It is the first time this kind of visa has included individuals traditionally excluded from other visa categories, such as inexperienced graduates and individuals who are older than 60. The visa also gives investors and key managers flexibility when conducting auxiliary business activities such as market research, business development, staff recruitment, lease searching and initial company set-up procedures before establishing it legally.
According to Dezan Shira's China Briefing, the following people are eligible to apply for the business start-up visa:
- Foreign students who graduated from a higher education institution in China and are willing to start an innovative business in Shanghai;
- Foreigners planning to invest in Shanghai or introduce business innovation;
- Excellent overseas graduates from top Chinese or world-renowned universities who obtained their degree no more than two years ago but have demonstrated outstanding achievements in terms of innovation and entrepreneurship in Shanghai.
To obtain the business start-up visa, applicants are required to submit an entrepreneurship- or investment-related certificate from a range of economic development zones, high-tech parks or corporate incubator spaces designated by the government.
Earlier this year, Shanghai also rolled out preferential visa and green card policies and business establishment incentives to attract top foreign talent.
Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.
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Taiwan, Hong Kong and Macau residents no longer require Chinese work permits
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Hiring disabled workers in China: Incentives and challenges
