Foreigners need to provide more documents when buying a house in China, such as their temporary residence permit in China, visa, work certificate, labor contract and so on. In addition, when foreigners buy a house in China, they must pay the whole house price in one lump sum, because they can't apply for a mortgage.
Requirements of foreigners to buy a house in China
The Notice on Further Standardizing the Management of Purchasing Houses by Overseas Institutions and Individuals applies to foreigners purchasing houses in China. The specific policies are as follows:
1. Overseas individuals can only buy 1 house for self-occupation in China. Overseas institutions that set up branches and representative offices in China can only purchase non-residential houses required for office work in registered cities (unless otherwise specified).
2. When foreigners handle the registration of house property rights, they need to check the relevant materials and verify the ownership of the houses purchased by the buyers. In addition, they need to have the following materials:
A certificate issued by the relevant department that overseas individuals (excluding Hong Kong, Macao and Taiwan residents and overseas Chinese) have worked in China for more than 1 year; Certificates of Hong Kong, Macao and Taiwan residents and overseas Chinese working, studying and staying in China;
(2) There is no written commitment to have other housing in China under the name of an overseas individual.
3. Settlement of house purchase shall be implemented in accordance with the Notice on Regulating Foreign Exchange Management in the Real Estate Market: the submitted application materials shall be reviewed, and those that meet the requirements shall be immediately filed and registered in the foreign exchange management information system of the foreign exchange bureau for direct investment.