III. Administration of Foreign Exchange Purchase by Overseas Institutions and Individuals
(10) Branches and representative offices established by overseas institutions in China (except enterprises approved to engage in real estate business) and overseas individuals who have worked and studied in China for more than one year may purchase self-occupied and self-occupied commercial houses that meet the actual needs, and may not purchase self-occupied and self-occupied commercial houses. Overseas institutions that have not established branches or representative offices in China and overseas individuals who have worked and studied in China for less than one year are not allowed to buy commercial housing. Hong Kong, Macao and Taiwan residents and overseas Chinese can buy a certain area of self-occupied commercial housing in China because of their living needs.
(11) According to regulations, overseas institutions and individuals must adopt a real-name registration system when purchasing self-occupied and self-occupied commercial houses. And with valid documents (overseas institutions should hold the certificate of approval of the relevant departments of the Chinese government to set up domestic institutions, and overseas individuals should hold the certificate of approval of China to work and study abroad, the same below), go through the corresponding land use right and housing property registration procedures with the land and real estate departments. The real estate property registration department must handle the property registration of overseas institutions and individuals in strict accordance with the principle of self-use and self-occupation, and refuse to register those who do not meet the conditions.
(12) The foreign exchange administration department shall, in strict accordance with the relevant provisions and the requirements of this opinion, review the remittance and settlement of funds purchased by foreign-invested enterprises, overseas institutions and individuals, and allow them to meet the conditions; The RMB funds obtained from the transfer of related real estate can only be purchased after being examined and confirmed by economic and trade regulations and tax payment procedures.