Guangzhou relaxes property purchase restrictions on HK, Macao, Taiwan, foreign nationals

Starting from July 5, Hong Kong, Macao, Taiwan, and foreign nationals are subject to new regulations when purchasing residential properties in Guangzhou, according to the Guangzhou 12345 Government Service Hotline.

They are limited to purchasing one residential unit under 120 square meters, while there are no restrictions on residential units over 120 square meters. Non-residential properties (offices and commercial spaces) are not subject to purchase restrictions.

Previously, foreign entities and individuals investing in non-self-use real estate within China were required to follow the principle of commercial presence. They had to apply to establish a foreign-invested enterprise according to relevant foreign investment real estate regulations, obtain approval from the appropriate departments, and complete the necessary registrations before engaging in related business activities within the approved business scope. This meant that foreign entities and individuals purchasing non-self-use commercial properties had to obtain the foreign investment enterprise approval certificate, and the business license must include real estate investment within its business scope.