|Population||About 1,340 million|
|Language||Official language: Chinese (Mandarin)|
|Time Zone||GMT +8|
|Currency||1 Yuan (CNY) = 10 jiao = 100 fen|
* Click here for the latest rate of exchange.
No Entry Visa for foreign nationals from Brunei, Japan and Singapore for stays of up to 15 days for business, sightseeing, visiting relatives and friends or transit.
Entry Visa for all other nationals before entering China.
Public Security Bureau (PSB) registration for all foreign nationals within three days from arrival. This is done by hotels if residing there, or in person at a police station if in private accommodation.Click here for latest IATA travel requirements for China.
Work Permit: obligatory for all foreign nationals to take up employment in China.
Alien Residence Permit: obligatory for employed foreign nationals within 15 days from arrival.
Health Certificate: obligatory to obtain the Work and Alien Residence permits.
Non Residents, working in the country for less than 365 days in a calendar year, are liable only for their Chinese income.
Residents, working in the country for more than 365 days in a calendar year, are liable for their income worldwide.
Progressive up to 45%, withheld at source.
Where no withholding is required, a taxpayer must pay the tax and file a monthly return within the first week after the month of income.
Taxpayers with annual income in excess of CNY 120,000 must file an individual self-assessment tax return by 31 March.
Mandatory. Variable from city to city. Aggregate rates for foreign nationals in Shanghai: employers, 37%; employees, 11%.
The income retention depends amongst others on the duration of the assignment, contract rate, marital status and taxation and social security agreements between China and the foreign nationals' country.
Please contact Access Financial for more information.