New business startup visa being trialled in Shanghai
Photograph: Danielle MacInnes via Unsplash
Want to start a business in Shanghai? Well, the new 'Private Residence Permit (entrepreneurship)' also known as a business startup visa (essentially, a one-year private residence permit for entrepreneurship for foreigners in Shanghai), may be for you. Great news for your organic, environmentally friendly, online, avocado-themed co-working space idea...
According to China Briefing, the new visa, valid for a year, is being trialled in districts such as Yangpu and Changning and offers foreigners the chance to start an innovative new business in Shanghai.
Of course, you can't just apply for it all laissez-faire. As with many visas, there are a fair few eligibility clauses. In this case, you either need to be a foreign student who's graduated from a university in China and is willing to innovate and start a business in China, someone planning to invest in Shanghai and be innovative in business, or a top overseas graduate from a good Chinese uni or a renowned foreign institution who has graduated less than two years ago – but in that time has made highly notable achievements in entrepreneurship and innovation in Shanghai.
The new visa allows flexibility with business development, market research, recruitment and other company setup procedures before getting the company established legally. It also has an expansive scope of eligibility in comparison with other visas, not excluding inexperienced graduates and over 60s like many others do.
So, whether you really want to start that artisanal coffee brewing Chinese language school with a strong focus on saving the whales, or a gym that's also a VR vegan brunch café, it's probably worth checking out this visa.