The term "houses" as mentioned in these Measures refers to houses of public facilities such as houses, industry and commerce, and tourism. Article 3 These Measures shall apply to Chinese-foreign equity joint ventures, Chinese-foreign contractual joint ventures, foreign-funded enterprises, Hong Kong, Macao and Taiwan enterprises and other economic organizations and individuals (hereinafter referred to as foreign-invested enterprises) engaged in real estate business in this Municipality with the approval of the state and provincial and municipal administrative departments for industry and commerce.
Chinese enterprises engaged in Sino-foreign joint ventures and cooperative operations must be enterprises with real estate development qualifications. Article 4 The Wuhan Municipal Foreign Economic Relations and Trade Commission (hereinafter referred to as the Municipal Foreign Economic and Trade Commission) is responsible for the establishment of foreign-invested real estate enterprises and foreign performance. The industry management of enterprises shall be the responsibility of Wuhan Urban and Rural Construction Management Committee (hereinafter referred to as the Municipal Construction Committee). Article 5 The real estate business activities of foreign-invested enterprises must abide by the laws of China.
Enterprises with foreign investment have the right to operate real estate independently within the scope of China laws and contracts and articles of association approved by the Foreign Economic Commission. Article 6 The legitimate rights and interests of foreign-invested enterprises engaged in real estate business are protected by the laws of China. Chapter II Establishment of Enterprises Article 7 The establishment of foreign-invested enterprises shall go through the application procedures in accordance with the following procedures:
(a) according to the provisions of the examination and approval procedures for the establishment of foreign-invested enterprises, submit a written declaration to the Municipal Foreign Economic Commission, and obtain the approval certificate of foreign-invested enterprises after examination and approval.
(two) to declare the qualification certificate of the development company to the Municipal Construction Committee with the approval certificate of the foreign-invested enterprise.
(3) Apply to the Municipal Administration for Industry and Commerce for registration and obtain a business license with the approval certificate, technical qualification certificate and relevant documents within 30 days from the date of receiving the approval certificate of the foreign-capital enterprise. The date of issuance of the business license is the date of establishment of the enterprise. Article 8 The registered capital of a foreign-invested enterprise shall not be less than10 million yuan (or equivalent in other currencies), and the proportion of foreign registered capital in the total investment shall be implemented in accordance with relevant state regulations. The investment amount shall be invested within the investment period stipulated in the contract. Chapter III Real Estate Management Article 9 Foreign-invested enterprises engaged in real estate business in our city shall use the land in accordance with the Implementation Measures for the Assignment and Transfer of the Right to Use Urban State-owned Land in Wuhan. Article 10 If a foreign-invested enterprise needs land for real estate management, it shall apply to the Municipal Bureau of Planning and Land Management for land use, sign a land transfer or lease contract, and obtain a land use certificate. The land use period is calculated from the date when the land use certificate is issued. Article 11 Foreign-invested enterprises shall prepare real estate production and operation plans on an annual basis and report them to the Wuhan Municipal Planning Commission, the Foreign Economic Commission and the Construction Committee for the record, and fill in real estate production and operation statistics according to relevant regulations and report them to the Municipal Foreign Economic Commission, the Construction Committee and the Statistics Bureau. Twelfth foreign-invested enterprises in land development and housing construction, must be in accordance with the "Wuhan city planning management measures" and the relevant provisions of the architectural design and construction management. Thirteenth houses and land use rights operated by foreign-invested enterprises can be sold, transferred, leased, donated and inherited in China and abroad in accordance with the laws and regulations of China.
The parties to the sale, lease, exchange of houses or transfer of land use rights must sign a contract, and the price shall be determined by the foreign-invested enterprises themselves. Article 14 When buying or selling houses, the following procedures shall be handled:
(1) The Seller holds the Construction Land Planning Permit, the Construction Planning Permit and the Land Use Certificate of the house construction project, and files them with Wuhan Real Estate Administration Bureau (hereinafter referred to as the Municipal Real Estate Bureau);
(2) The buyer and the seller sign a house sale (pre-sale) contract, and the buyer goes to the municipal real estate exchange for signing procedures.
(3) When buying and selling a house, the buyer shall, within 30 days, go to the Municipal Housing Authority to register the property right and land use right with the transaction deed and the house delivery certificate, and obtain the house ownership certificate and land use certificate. Fifteenth rental housing rental parties, should conclude a "real estate lease contract", and to the city real estate bureau for lease procedures. Article 16 Foreign governments and their embassies, consulates and business representative offices in China shall purchase or lease houses or use the land in Wuhan as their offices in accordance with relevant regulations. Seventeenth foreign-invested enterprises in accordance with the law to obtain land use rights, housing property rights, can be used as collateral.
The mortgage contract signed by the mortgagor and the mortgagee shall be registered with the Municipal Real Estate Bureau. An unregistered mortgage contract is invalid.
When the mortgagor establishes the mortgage right on the leased land use right or house, he shall inform the lessee in writing that the original lease contract will continue to be valid.
If the mortgagor fails to repay the loan on schedule, the mortgagee has the right to dispose of the collateral according to the laws and contracts of China. Chapter IV Finance, Taxation and Foreign Exchange Management