If you’re thinking about setting up a new business in China, it’s important to know that you’ll need to move through several different stages before you can legally stay on the ground.
First, you’ll need to incorporate your business as a joint venture with a local partner. Once that’s done, you’ll need to obtain all necessary permits and licenses, including a work permit for yourself.
If you’ve traveled to China and are planning on staying there for an extended period, applying for a work visa may be your first instinct; however, it may not be the best choice. Your company has to be fully incorporated first before applying for a work visa so that it can hire employees who have been approved by the government.
You can apply for a China entrepreneur visa instead. China’s entrepreneur visa offers foreigners a more streamlined and flexible way to legally enter the country and incorporate their business under certain conditions.
However, some requirements need to be met before applying for an entrepreneur visa. The first step is to apply for a China business license and then apply for an individual investor visa if needed. After that, you are free to apply for an entrepreneur visa which will allow you to stay in China while working on your business.
Curious To See What is the Right Option For You While Thinking Of Setting Up A Business In China?
Stay on this blog, here we mention everything you need to know about Entrepreneur Visa.
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What Is a China Entrepreneur Visa?
In the year 2018, China introduced a specific type of visa for foreign entrepreneurs and investors officially named as Private Residence Permit (entrepreneurship) visa, commonly known as entrepreneur visa.
Entrepreneur Visa is the most popular visa plan for foreign entrepreneurs. It is designed to attract and encourage skilled and talented entrepreneurs to set up their new businesses in China. An entrepreneur visa is a non-immigrant visa that is available to individuals who wish to start a business in China. The entrepreneur visa is a visa that allows entrepreneurs to live and work in China while they set up their new businesses here. An entrepreneur visa can be obtained by applying for the visa from inside the country and completing a fairly standard application form; the main difference is that the person applying must have their own business before applying, along with a certificate of incorporation and other required documents. In some cases, foreign entrepreneurs who meet this threshold are also eligible for a refund of their capital investment upon approval of their application.
Who Can Apply For An Entrepreneur Visa?
- Applicants must offer a progressive business strategy/plan and display their rationale to spend money on this plan. And must agree to work in a business incubator upon arrival may also be required.
- Foreign college students reading in a Chinese college who have a revolutionary business plan related to the authorities-designated science and technology parks, incubators, and maker spaces in particular regions along with Changning and Yangpu in Shanghai are eligible.
- In terms of age, the eligibility criteria are slightly different from other Chinese visas, here it applies to people of all age groups, not the usual restriction of being 60 years old.
Process To Apply For Chinese Entrepreneur Visa
The application manner is similar to different visa utility techniques in China, consisting of a present process, a fitness test, supplying a college diploma, and passport records. Apart from the essential documents, applicants should gift a few additional records whilst making use of the fn entrepreneur visa:
Provide funding certification bureaucracy – this would consist of files just like the capital verification file (to reveal evidence of funds) if your goal is to head down the investment course and start a business in China.
Write a utility letter – this would define your business plan in detail and explain why you want to start your business in China.
Other requirements can be subjective, as the immigration team of workers could be searching for your marketing strategy and identifying whether or not it has an advantage. Fundamentally, you want to be visible as someone who will make contributions to China’s economic system and has a legitimate enterprise idea to probably become an achievement.
Is an Entrepreneur Visa Your Requirement?
Applying for an entrepreneur visa is without a doubt a possible choice for those seeking to start an organization in China. Compared to other work visas, an entrepreneur visa may be a great deal simpler and less pricey.
When applying for an Entrepreneur Visa it is only wise to choose a reliable visa consultant like Tourisa. Wondering Why? Because you already have a lot on your plate and are almost covered with documentation of your business set up in a foreign land. Amidst all this, you surely do not want to take the burden of another series of documentation.