Do foreigners have to pay social security when buying a house in Shanghai?

Do foreigners have to pay social security when buying a house in Shanghai?

According to the regulations of Shanghai Housing and Urban-Rural Construction Management Committee, foreigners need to meet certain conditions when buying a house in Shanghai, one of which is to require the purchaser or his family members to pay social security or individual tax in Shanghai for a certain number of years. Therefore, when foreign couples buy a house in Shanghai, they generally need at least one party to pay social security or individual tax in Shanghai in order to reach the specified number of years. The specific payment period requirements may vary according to the policy changes in Shanghai, so it is recommended that buyers consult with relevant departments or lawyers for confirmation before buying a house.

In addition, it is worth noting that the purchase restrictions in different regions of Shanghai are different. For example, in some popular areas, buyers need to meet higher social security or individual tax payment requirements, or they need to meet other conditions at the same time to buy a house.

Specifically, foreigners need to meet the following conditions when buying a house in Shanghai:

1. Buy a house in the name of a family, but at least one family member is eligible to buy a house in Shanghai;

2. Continuous payment of social security or individual tax in Shanghai for five years;

3. There is no space in the name. If there are minor children, it is necessary to provide relevant identity certificates and household registration materials for minor children;

4. Have purchasing funds and repayment ability.

It should be noted that Shanghai's purchase restriction policy may change due to time and policy adjustment, so it is best to consult relevant institutions or departments to understand the latest policies and regulations before buying a house.

To sum up:

Foreigners need to meet certain conditions when buying a house in Shanghai, including the fact that the buyers or their family members have paid social security or paid taxes in Shanghai for a certain number of years. Therefore, when foreign couples buy a house in Shanghai, they generally need at least one party to pay social security or individual tax in Shanghai in order to reach the specified number of years. Property buyers should consult relevant departments or lawyers for confirmation before buying a house to understand the purchase restriction in different regions.

Legal basis:

The "Implementation Opinions of Shanghai Housing and Urban-Rural Construction Management Committee on Further Improving the Housing Market System and Housing Security System of this Municipality" (hereinafter referred to as "Implementation Opinions") stipulates: "Families who are not registered in this Municipality need to pay personal income tax or social insurance for five years or more before the date of purchase, and are restricted from buying houses." This regulation clarifies that foreigners need to meet the requirements of social security or individual tax payment period when buying a house in Shanghai.