Shanghai has launched a new visa for foreigners wanting to start a business in China. According to China Briefing, the “Private Residence Permit (entrepreneurship)”, commonly dubbed the “business startup visa” will allow foreign entrepreneurs and investors to start companies in selected districts of the city.
The selected districts are Changning and Yangpu, where thousands of foreign students and other expats can immediately take advantage of the new scheme. Visa holders can work to recruit staff, conduct market research, search for premises and conduct other auxiliary business activities before the business is founded.
People not traditionally eligible for China work visas, such as inexperienced graduates and those older than 60, can apply for the startup visa. It is valid for one year and can be immediately transferred to a work visa once the company is up and running.
Applicants are required to submit a certificate of entrepreneurship or investment from a government-designated economic development zone, corporate space and high-tech park in order to apply.
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Keywords: tart a business in China
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