新闻 - J & K Investment Consulting

What can I do if there is an error when I pay personal housing property tax?

If there is an error when paying the tax, you can submit the relevant supporting documents to the tax department in the Real Estate Transaction Center in the district where the taxable house is located. This correction procedure can not be handled by other tax departments.

How long after business registration do I need to make a tax registration?

Taxpayers who have completed changes in the business administrative authority shall make tax registration changes within 30 days from the date of change registration by the business administrative authority; those who do not need to handle changes in the business administrative authority shall make tax registration changes within 30 days from the date of actual change in tax registration content, or within 30 days from the date of approval or announcement of the change by the relevant authority, by presenting the relevant certificates to the original tax registration authority.

What should I do if I can't read the VAT e-invoice?

The VAT e-invoice is in OFD format. You can download the VAT e-invoice reader from the National VAT Invoice Verification Platform (https://inv-veri.chinatax.gov.cn) to read the VAT e-invoice.

What is the deadline for payment of stamp tax on the taxable business books?

The taxable books of business are filed and paid annually or quarterly.

How is the basis of stamp tax determined?

A taxable contract is based on the amount stated in the contract, excluding the stated VAT. The taxable transfer document is based on the amount stated in the transfer document, excluding the stated VAT. The basis for taxable business books is the total amount of paid-in capital (share capital) and capital surplus recorded in the books. The taxable basis for securities transactions is the transaction amount.

The Shanghai Municipal Commission of Commerce, in collaboration with three other government departments, has released a comprehensive plan aimed at further optimizing the environment for foreign investment.

The document, titled the “Implementation Plan to Further Optimize the Environment for Foreign Investment and Enhance Efforts to Attract Foreign Investment,” took effect on July 11, 2024, and outlines 15 key measures.

The three other collaborating departments are the Shanghai Municipal Development and Reform Commission, the Shanghai Municipal Commission of Economy and Informatization, and the Shanghai Municipal Commission of Science and Technology.

Highlights of the document include:

1. Increase support for foreign R&D centers

Implement Shanghai's enhancement plan for foreign-funded research and development centers (View graphic of the plan) to attract foreign R&D centers to Shanghai and enhance the capabilities of existing ones. Eligible global R&D centers can enjoy relevant subsidies in accordance with laws and regulations.

Support eligible foreign R&D centers in applying for Shanghai’s locally-funded science and technology programs.

Encourage foreign R&D institutions to collaborate with local universities, research institutions, and enterprises in innovation projects, providing funding support for eligible projects.

Support the establishment of open innovation platforms and high-quality incubators by foreign-invested enterprises in Shanghai, facilitating deep cooperation with professional service agencies to accelerate the commercialization of technological achievements and the cultivation of innovative enterprises.

2. Expand opening-Expand opening-up of the service sector

Seek pilot measures to expand opening-up in key areas, such as financial services, biopharmaceuticals, and fashion.

Under the premise of compliance with relevant laws and regulations, accelerate the implementation of foreign investment projects in the biopharmaceutical sector, and encourage foreign-funded enterprises to conduct clinical trials on overseas-listed cell and gene therapy drugs in Shanghai. In the China (Shanghai) Pilot Free Trade Zone (Shanghai FTZ), select eligible foreign-funded enterprises to pilot the development and application of gene diagnosis and treatment technologies.

Accelerate pilot projects to expand the opening-up of value-added telecom services.

3. Expand channels for attracting foreign investment

Encourage eligible foreign investors to establish investment companies and regional headquarters in Shanghai. Companies established by these investment companies can enjoy the treatment of foreign-funded enterprises in accordance with national regulations, and new investments by regional headquarters of multinational companies can enjoy support policies in accordance with relevant regulations.

Encourage eligible foreign investors to establish equity investment funds, and create a fast-track process for eligible equity investment fund managers to establish these funds.

4. Improve mechanisms for advancing foreign investment projects

Enhance the mechanisms to promote the early signing, early commencement, and early production of foreign investment projects.

Support foreign-funded enterprises in participating in green certificate transactions and green electricity trading.

Support foreign-funded enterprises in participating in the national plan for large-scale equipment renewals.

5. Explore mechanisms for cross-border data flow

Guide foreign-funded enterprises in conducting security assessments on outbound data and filing for record of standard contracts for outbound personal information.

Implement pilot projects for security pre-assessments of outbound data.

Utilize the cross-border data service center in Lin-gang Special Area to provide consulting services and preliminary reviews of materials related to cross-border data flow.

Formulate regulations for cross-border data flow in the Shanghai FTZ, exploring the development of "negative lists" and guidelines for cross-border data flows in various scenarios, such as biopharmaceuticals, intelligent connected vehicles, shipping, retail, finance, and technology export.

6. Enhance convenience for foreigners to live in Shanghai

Upgrade the International Services Shanghai portal (english.shanghai.gov.cn) to provide policy information, news services, and living guides for foreign employees of foreign-invested enterprises in Shanghai.

Encourage foreigners working in foreign-invested enterprises to apply for the Fast Pass on Foreign Talents Remuneration Foreign Exchange[c1] , which allows multiple transactions and cross-bank services without document review, provided by banks in Shanghai.

Implement measures to facilitate the entry of foreign personnel to China, providing convenience for those urgently applying for port visas to come to Shanghai for business cooperation, visits, exchanges, and investment.

Provide convenience for eligible foreign senior management and technical personnel hired and recommended by foreign-invested enterprises to apply for permanent residence.

Promote the application of the Five-Star Card, the new version of the permanent resident card, in more convenient scenarios.

7. Optimize inspections for foreign-invested enterprises

Categorize enterprises according to their levels of risk and credit. For enterprises with low risk and good credit, further reduce the proportion and frequency of random inspections.

Explore new models, such as "comprehensive one-time inspection," in which multiple departments jointly conduct different administrative inspections on the same regulatory object simultaneously.

Deepen inclusive and prudent regulations according to the scope of matters not subject to administrative penalties and the standards for mitigating administrative penalties.

8. Guarantee national treatment for foreign-invested enterprises

Safeguard the rights of foreign-invested enterprises to participate in government procurement activities in Shanghai. Implement the collaborative government procurement for innovative products. Measures such as subscription and first purchase will be adopted to support foreign-invested enterprises in the city in innovating and developing globally leading products. This cooperative procurement involves the government working together with suppliers, sharing the risks of research and development, and purchasing the successfully developed innovative products as agreed in R&D contracts.

Utilize the Shanghai Foreign-Funded Enterprises Standardization Collaboration Platform to provide foreign enterprises with one-stop services, such as information inquiry on standards, policy promotion, and public training.

Encourage foreign-invested enterprises to independently or jointly with other enterprises develop standards.

Encourage foreign-invested enterprises to participate in national and municipal pilot projects on service industry standardization and in activities related to standardization awards.

Include eligible representatives of foreign-invested enterprises in the pool of experts for technical review on standardization.

9. Improve mechanism for protecting rights and interests of foreign enterprises

Support the development of arbitration institutions and commercial mediation organizations registered in Shanghai, as well as the Shanghai outlets of overseas arbitration and mediation organizations. Support them in providing foreign-related arbitration and mediation services.

Utilize the Shanghai International Dispute Resolution Center to meet the needs of foreign-invested enterprises for diverse and convenient dispute resolution services.

Utilize the Shanghai Court’s One-Stop International Commercial Dispute Resolution Platform to fairly and efficiently handle conflicts and disputes in the foreign investment field.

Establish a dedicated section called Complaint & Consultation about Foreign Investment on the Invest Shanghai platform (www.investsh.org.cn) to track and resolve problems raised by foreign-invested enterprises.

If an entrepreneur would like to come to China to set up a company, which visa should they apply for?

If a foreigner wants to set up a business or open a company here, of course, it's welcome. They can apply for an F visa or M visa (business visa), or a visa for personal affairs, through the Chinese embassy or consulate. When they arrive in China, we will check the documents provided – for example, if they want to set up a business, they will need to get a business license and show this kind of evidence. We may then give them a six-month visa or even a one-year residence permit, depending on the documents provided.

If you're still in the process of starting a company when you arrive, you can apply for an extension of the original business visa. When you're finished setting up the company, normally you'll then obtain a work permit, and if you've got a work permit, usually we will issue a residence permit for one year.

What are the requirements to apply for a start-up visa or business visa?

If you are already in China and want to change your status, you can provide proof that you're opening a company, and we may change the type of visa relatively – for instance, issue a business visa for several months. If you already have a work permit we will issue a residence permit, providing that the business is legitimate.

Are there ways to change the status of your visa?

Yes! For example, if you're in China for a short stay with a business visa, but later want to open a company, we may change the status. Or, if you were a student and now you have a work permit, we can also change it. It all depends on the situation. We will issue a residence permit based on whether you're qualified and all documents are correct.

We welcome foreigners to study, work, visit or tour in China. If you can provide the relevant documents, we will issue the relevant visa or residence permit. The door is open always, but you need to provide some evidence of your reasons for being here.

If someone needs to apply for a residence permit, but they urgently need their passport to travel, what do they do?

There are a few ways to solve this issue. If you need to travel urgently, you can provide a plane ticket to prove it's urgent, and we will rush the application through. Normally it takes seven working days to issue a visa or residence permit, but in this case, we may rush to issue it in two to three days.

If you want to travel to the Chinese mainland, you can use the application receipt, which can still be used as temporary proof of stay in China, even though we have your passport.

The third way is that if necessary, you can apply to take back your passport during the application period – we will give back your passport, and after seven working days, you can come back and we will add the visa or residence permit to the passport.

When foreigners need to update their address and personal information, where do they go? And if they move, do they have to change their information?

Foreigners who are not staying in a hotel and want to register their address can go to the local police station, or register directly through the website. If you already have a residence permit and need to change your address, you can do it directly through the website.

If you move, you need to update your information – it is required by law. If you're in a hotel, they will do it for you; if you have your own apartment or are staying with a friend, you need to do it yourself.

I have a few questions about the 144-hour visa-free transit policy:

I hold a British passport and plan to fly from London to Hong Kong, then from Hong Kong to Shanghai and afterwards travel in Shanghai for four days, flying back to London. I would like to know:

Does flying from Hong Kong to Shanghai to London comply with the 144-hour visa-free transit policy requirements?
What is a "through ticket"? Does it require both segments to be with the same airline?
Must the airport of arrival in Shanghai be the same as the airport of departure from Shanghai?

Based on your plans, here's how the 144-hour visa-free transit policy applies to you:

If you hold a British passport and have pre-booked flights from Hong Kong to Shanghai and from Shanghai to London four days later, you qualify for the 144-hour visa-free transit in the Jiangsu-Zhejiang-Shanghai area.
Purchasing separate tickets in advance for the Hong Kong to Shanghai and Shanghai to London segments is acceptable. The immigration authorities do not require both segments to be with the same airline.
You can enter or exit through either Shanghai Hongqiao Airport or Shanghai Pudong Airport. For example, you can fly from Hong Kong to Shanghai Hongqiao Airport and depart from Shanghai Pudong Airport to London and still comply with the policy.

Important notes:

Ensure your passport is valid for at least three more months.
If your passport has a Chinese visa rejection stamp, or if you have records of illegal entry, residence, or employment in China within the past five years, you will not be issued a temporary entry permit and cannot use the 144-hour visa-free transit.

(Source: Shanghai General Station of Immigration Inspection)

My daughter and I are Finnish citizens traveling to Shanghai from London on Oct 25 and staying until Oct 30.

Then, we'll go to Japan for five days and transit back through Shanghai to London, staying less than 24 hours.

Can we use the 144-hour visa-free transit in Shanghai for our initial stay and the 24-hour visa-free transit on our return from Japan? Or should we get a double-entry visa before our trip?

My husband, an Irish citizen, can stay in China visa-free for up to 15 days. Does he need to do anything else?

Lastly, we have Turkish stamps in our passports from a recent trip. Will they cause any issues for visa-free entry?

Based on your letter, if you have a valid Finnish passport and have pre-booked direct flights from London to Shanghai and then from Shanghai to Japan six days later, you can apply for a 144-hour visa-free transit in the Jiangsu-Zhejiang-Shanghai area with the border inspection authorities.

With regards to you and your daughter, given that you both hold valid Finnish travel documents and have confirmed connecting flights from Japan to Shanghai and then to London within 24 hours, you have two options:

If you don't need to leave the airport's restricted area, you can transit directly without going through immigration.
If you wish to exit the restricted area, you can apply for a 24-hour visa-free transit at the immigration desk. After a successful border check, you'll be granted temporary entry.

With regards to your husband:

As an Irish passport holder, your husband may be eligible for a 15-day visa-free stay if:

His visit purpose aligns with current policy
He can provide supporting documents for his entry purpose
He receives approval from border inspection authorities

Regarding your question about the Turkish visa, the impact of a Turkish visa on visa-free entry will be determined by the border inspection authorities at the time of entry.

(Source: Shanghai General Station of Immigration Inspection)

As I have reached retirement age and will be leaving China, how can I withdraw my social security contributions (pension, medical)?

Under Article 5 of the Interim Measures for Social Insurance System Coverage of Foreigners Working within the Territory of China:

Foreigners covered by the social insurance system shall be entitled to social insurance benefits in accordance with the law, once the qualifying conditions are met.

For those who leave the country before reaching the stipulated pension age, their individual social insurance accounts will be retained. If they return to China for employment, their contribution years will be accumulated. Alternatively, upon a written application to terminate the social insurance relationship, the balance in their individual social insurance account can be paid out to them in a lump sum.

Individuals can go to the nearest community affairs service center for processing.

According to the relevant regulations on the basic medical insurance for employees, employees who terminate their pension insurance – due to a one-time pension payment, death, or emigration and the cancellation of their basic pension insurance account – can bring documents to the nearest district medical insurance center to settle their personal medical account funds.

Before settling the personal account funds, any unpaid or unreimbursed medical expenses for outpatient, emergency, hospitalization, or home care must first be settled, reimbursed, or reduced.

If the settlement amount exceeds 10,000 yuan ($1,378), an appointment is required and the settlement can be processed within 10 working days after making the appointment.

(Sources: Shanghai Municipal Bureau of Human Resources and Social Security, Shanghai Municipal Medical Insurance Bureau)

I have been living and working in Shanghai for three years and am enrolled in the social security system, including the Housing Provident Fund. Is there a way I can check the amount I have accumulated?

Foreign employees need to bring their insurance documents to the nearest district social security center, in order to check their pension insurance payment status.

Applicants who are not citizens of the Chinese mainland can inquire about the details of their accounts for the past three years at the business outlets of the Shanghai Provident Fund Management Center or those of the China Construction Bank's housing provident fund, with any of the following valid identification – passport, residence permit, exit and entry permit, or other valid ID, according to the fund management center.

(Sources: Shanghai Municipal Bureau of Human Resources and Social Security, Shanghai Provident Fund Management Center)

I have been accepted into a university in Shanghai and will start my studies in September. Once I receive the JW202/201 Form and the admission letter from the university, can I apply directly for a new residence permit?

You can apply for a residence permit for foreign students in Shanghai with the following documents: the application forms and admission notice from the university, the Confirmation Form for Study in China (JW202/201 Form) and other relevant documents, according to the Shanghai Municipal Bureau of Public Security.

(Source: Shanghai Municipal Bureau of Public Security)

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