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Registering Property in ChinaThis topic examines the steps, time, and cost involved in registering property in China.STANDARDIZED PROPERTYProperty Value: 100,500.00City: ShanghaiRegistration Requirements:No: Procedure Time to complete Cost to complete1 Parties obtain application and notifications sheet, andpay fees1 day Deed tax: 3% of propertyvalue to be paid by thebuyerStamp duty: 0.05 建 ofproperty value paid eachby buyer and seller (total0.1%)Transaction Fee: 0.5% ofproperty value to be paidby the buyer2 Parties file the application at the House and LandResources Administration Centreup to 20 businessdaysno cost3 Parties pay registration fee 1 day CNY 3004 Parties pick up new title certificate 1 day no cost72
Procedure1Parties obtain application and notifications sheet, and pay feesTime to complete:Cost to complete:Comment:Procedure 2Time to complete:Cost to complete:1 dayDeed tax: 3% of property value to be paid by the buyerStamp duty: 0.05 建 of property value paid each by buyer and seller (total 0.1%)Transaction Fee: 0.5% of property value to be paid by the buyerThe parties visit the House and Land Resources Administration Centre to pick upan application and a notification sheet that gives instructions on how to proceed.The parties fill the application on the spot, impose their company seals on it, andpresent it to pay the applicable taxes at the Finance Window.Parties file the application at the House and Land Resources AdministrationCentreup to 20 business daysno costComment:Private ownership of land is not permitted in China; all land is subject to eitherState ownership or collective ownership. However, a private party is entitled toobtain the right to use the land. Regarding the State-owned land, there are twotypes of land use rights, the “granted land use right” and the “allocated land useright”. The difference is that the granted land use right is limited in time againstpayment, whereas the allocated land use right is usually given for free with no timelimit, but for specific purposes only. A private party also may transfer to anotherprivate party the granted land use right. The allocated land use right cannot becommercially transferable before being converted into granted land use right.In this case, the land is used for commercial purposes. Usually land forcommercial use is owned by the State, and the relevant land use right is theState-owned land use right. As to the term of the land use right in this case thebuyer, who will use the land for commercial purposes, will only get 40 years as theinitial term (as maximum unless it extends the granted land use rights at the end ofthe 40 year period by paying to the State the additional land price) minus theperiod from the granting date from the State to the date of the transfer to ABC.The documentation shall include:The seller and the buyer should submit one original real estate sales and purchasecontract (duly signed) and a writing representation of the seller and buyer regardingthe title transfer. There is no standard form of the contract (except for newlyconstructed commercial residential properties) nor the participation of alawyer/notary is required.The seller should submit the below documents:(i) The original copy of the Property Ownership Certificate ands Land Use RightCertificate (already in possession of the seller);(ii) The original copy of the Business License or Organization Code Certificate;(iii) The original copy of the Board resolution approving the sales of the real estate;(iv) District Branch-dedicated Form for proof of legal representative’s authority, andphotocopy of the identification card (or passport) of the legal representative; and(v) Photocopy of the identification card of the individual authorized to handle theactual procedures, and the original copy of Power of Attorney.The buyer should submit the below documents:(i) Real Estate Ownership Registration Form;(ii) The original copy of the Business License or Organization Code Certificate;(iii) The original copy of the Board resolution approving the purchase of the realestate;(iv) District Branch-dedicated Form for proof of legal representative’s authority, andphotocopy of the identification card (or passport) of the legal representative; And73
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China
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© 2007 The International Bank for
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IntroductionDoing Business 2008 is
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9. In China, a new property law put
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Summary of Indicators - ChinaStarti
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Starting a Business in China: Entry
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3. Steps to Starting a Business in
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The following table shows Starting
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1. Historical data: Dealing with Li
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13. Review of construction drawings
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The following table shows Dealing w
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1. Historical data: Employing Worke
Page 26 and 27: The following table shows Employing
Page 28 and 29: 1. Historical data: Registering Pro
Page 30 and 31: 4. Benchmarking Registering Propert
Page 32 and 33: Getting Credit in China: Legal Righ
Page 34 and 35: 3. Benchmarking Getting Credit Regu
Page 36 and 37: Protecting Investors in ChinaOffici
Page 38 and 39: 3. Benchmarking Protecting Investor
Page 40 and 41: Paying Taxes: Tax Payable and Compl
Page 42 and 43: 3. Benchmarking Paying Taxes Regula
Page 44 and 45: Trading Across Borders: Importing a
Page 46 and 47: 3. Benchmarking Trading Across Bord
Page 48 and 49: Enforcing Contracts: Court Efficien
Page 50 and 51: 3. Benchmarking Enforcing Contracts
Page 52 and 53: Closing Business in China: Bankrupt
Page 54 and 55: 3. Benchmarking Closing Business Re
Page 56 and 57: APPENDICESStarting a Business in Ch
Page 58 and 59: - Appointment documents and identif
Page 60 and 61: Cost to complete:Comment:no chargeA
Page 62 and 63: 14 *Receive review of building draw
Page 64 and 65: Procedure1Request and obtain approv
Page 66 and 67: Comment:Procedure6The Shanghai Hous
Page 68 and 69: Procedure14Receive review of buildi
Page 70 and 71: Comment:No time limits apply for in
Page 72 and 73: 建建建建建建建建建
Page 74 and 75: Employing Workers in ChinaEmploying
Page 78 and 79: Procedure3(v) Photocopy of the iden
Page 80 and 81: Protecting Investors in ChinaThe ta
Page 82 and 83: Paying Taxes in ChinaThe table belo
Page 84 and 85: Trading Across Borders in ChinaThes
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