2024 Annual Recap: Major Changes in Green Card, Work Visa, Business Regulations, and MORE
As we wave goodbye to 2024, a year marked by remarkable changes and new opportunities, we're thrilled to present a comprehensive review of the latest updates in visa policies for foreigners coming to China!
Just as we did last year, we aim to highlight the key modifications and their implications. Join us as we delve into these significant developments and understand how they shape the future landscape for international visitors and expatriates.
If you have questions about China visa or need assistance, feel free to consult our visa advisor, Maggie!
Part
1
Green Card Permanent Residence Policy
1
Permanent Residence for Employment in Shanghai
Shanghai has refined its permanent residence policy for employment. Applicants need an annual salary of at least 880,000 RMB and an annual tax payment of at least 178,000 RMB. Additionally, they must work in China for four consecutive years, with each year including at least six months of residence in the country.
2
Magnolia Award Recipients
Foreigners who receive the Magnolia Award can apply for a recommendation letter, allowing them to enjoy a more streamlined permanent residence application process through the talent-based permanent residence application channel.
3
Permanent Residence for PhDs
The policy continues to facilitate permanent residence applications for foreign talents with a doctoral degree, following the relevant provisions from the previous year.
Click for more details:
Part
2
Integration of Work Permit and Social Security Card
Starting December 1, 2024, the work permit for foreigners and the social security card have been integrated. Foreigners' work permit information will be added to the social security card, providing convenience in the following ways:
Integrated Processing: No need to issue a physical work permit; all related procedures can be completed with the social security card.
Online Applications: Applications for work permits, extensions, changes, and cancellations will be handled entirely online, simplifying the process significantly.
Electronic Social Security Card: Foreigners can download an app to obtain their electronic social security card, register with their name, work permit number, or social security number, and verify their identity to access the card with loaded work permit information.
Read related:
If you have questions about China visa or need assistance, feel free to consult our visa advisor, Maggie!
Part
3
Foreign Investment Enterprise Registration Policy
1
Real Capital Payment Requirements for Foreign Enterprises
The new company law requires foreign enterprises to pay their registered capital within five years. This aims to ensure the authenticity and stability of corporate capital. For companies registered before June 30, 2024, the deadline to adjust the capital payment period is June 30, 2027.
2
Abolishment of the Supervisor Role
The policy abolishes the supervisor role to simplify corporate governance structures, allowing enterprises to choose suitable supervision mechanisms based on their size and needs, such as establishing an audit committee.
Part
4
Visa-Free Policy
1
New Visa-Free Countries
Starting November 30, 2024, citizens of 38 visa-free countries can travel to China without a visa for business, tourism, family visits, exchange programs, or transits of up to 30 days.
Read Related:
2
Relaxed Border Visa Conditions
Foreigners urgently needing to engage in business cooperation, visits, investment, family visits, or personal affairs in China can apply for a border visa at entry ports with an invitation letter or related documents if unable to secure a visa abroad in time.
3
Transit Visa-Free Convenience
Effective immediately, foreign nationals from 54 eligible countries can now transit through China without a visa for up to 240 hours (10 days), a notable extension from the previous 72 and 144-hour visa-free stay options.
Read Related:
And that wraps up our review of 2024's pivotal changes affecting expats and businesses in China. As we step into 2025, we're eager to hear your thoughts and expectations. What policy changes and new opportunities do you hope to see in the coming year? Tell us in the comments!
Happy New Year! 🎉
If you have any questions about China visa applications(work visa, company registration and more), please contact our visa consultant Maggie.
You might be interested in the below topics:
No Experience or Degree for Work Visa? Try Point-Based System!
No Experience Required: Who Can Apply for Category C Work Visa?
Official Websites You Must Know for China Visa Application.
Follow our Official WeChat to get the latest policy of China Visa.
No comments:
Post a Comment