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Are you considering starting your own business in China? Shanghai's Public Security Bureau recently introduced a new 'Private Residence Permit (Entrepreneurship)' also known as the 'startup visa' (创业签证) that has been specifically designed for entrepreneurs in select districts.

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Photo credit: 上观



Holders of the 'startup visa' can enjoy 1-year residence in China as well as the ability to hire, conduct market research, and sign, transfer of extend a lease among other capabilities.

 

In the past, there had been no such channel for foreign students and expat professionals to help facilitate the development of their own startup or to receive an internship in China. Today, thanks to Shanghai’s new startup visa, all that is required is a 'startup stamp' to allow even young graduates with no previous working experience under their belt to gain some experience while in China.

 

Mr.Huang, a Fudan University teacher, told reporters that one of his students from Germany had been planning on starting his own company in Shanghai and is currently working on the registration procedure for his business. 

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Top foreign talent can also be granted a preferential visa, green card policies, and business founding incentives. Shanghai is not the only city to be offering such a visa; expats from other provinces such as Beijing and Yunnan are also granted similar visa incentives. Their main purpose is to attract more high-tech foreign talent. More than 100 measures have been announced, such as the assessment to key industry sector.

Source : SHANGHAIBIZZ,Shanghai Observer

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