Since 2018, China has been trialing the Entrepreneur Visa (创业签证), officially known as the 'Private Residence Permit (Entrepreneurship) Visa'. By 2021, this visa became available in Shenzhen. Its purpose is to attract and encourage skilled entrepreneurs to start new businesses in China. This visa allows foreigners to live in China while legally conducting business activities such as market research, securing office space, hiring staff, and handling various administrative tasks necessary for establishing a business, often a Wholly Foreign-Owned Enterprise (WFOE).
Unlike a traditional work permit, which requires sponsorship from an existing company before entering China, the entrepreneur visa allows individuals to establish their own company. Once the company is incorporated, it can then sponsor the applicant for a work permit.
Who Can Apply for an Entrepreneur Visa in China?
One notable difference between the entrepreneurship visa and other Chinese visas is the age requirement. While most Chinese visas are available only to individuals under 60, the entrepreneurship visa is open to all age groups.
To be eligible for this visa, applicants must meet the following criteria:
Innovative Business Plan: Applicants must present a unique business plan and show their intent to invest in it. Some regions may also require applicants to work in a business incubator upon arrival.
Foreign Students in China: Foreign students enrolled at Chinese universities with innovative business plans related to government-designated science and technology parks, incubators, or maker spaces in specific areas like Changning and Yangpu in Shanghai.
Recent Graduates: High-calibre foreign graduates from top universities in China or abroad, who have demonstrated significant achievements in innovation and entrepreneurship, can apply within two years of graduation.
How to Apply for an Entrepreneur Visa in China?
The application process for an entrepreneur visa is similar to other visa processes in China, including a health check, providing a university diploma, and passport information. However, there are additional requirements specific to the entrepreneur visa:
Investment Certification: Applicants aiming to start a business must provide documents such as a capital verification report to show proof of funds.
Application Letter: This letter should detail the business plan and explain why you wish to establish your business in China.
The approval process can be subjective, as immigration officials will assess the merit of your business plan. Essentially, you need to demonstrate that your business will contribute to China's economy and has a strong chance of success.
Woodburn Accountants & Advisors is one of China’s most trusted business setup advisory firms.
Woodburn Accountants & Advisors is specialized in inbound investment to China and Hong Kong. We focus on eliminating the complexities of corporate services and compliance administration. We help clients with services ranging from trademark registration and company incorporation to the full outsourcing solution for accounting, tax, and human resource services. Our advisory services can be tailor-made based on the companies’ objectives, goals and needs which vary depending on the stage they are at on their journey.
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