I was told by a white American woman living in Hong Kong a few years ago that she could by houses, even in mainland China. The profits had to stay in the country though, which was the only restriction she mentioned. I don’t know if she had to be legally able to work in the country, or an out of country foreigner could also buy. If she had done that when we were talking about it, it would have been a very good investment for her. But today, it would be a terrible investment. This is why Chinese are looking elsewhere.
OK I’d be interested to hear more.
My information is not current, so things could have changed, but my information is that no foreigners could own land in China.
Not non-Chinese.
Any additional information on this? Mine isn’t current, so it could have changed.
Would be interested to know the current situation.
Not being able to repatriate money is a huge drawback.
I think there is a lot of that, working in the commercial aspect also.
So all the “American” companies working there, cannot currently bring their money home.
Like I said though, there are huge differences.
RE: I was told by a white American woman living in Hong Kong a few years ago that she could by houses, even in mainland China. The profits had to stay in the country though, which was the only restriction she mentioned.
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Well in which case the profits have to stay in a bank IN CHINA.
Next thing -— Did she ever consider one thing -— ACCORDING TO AMERICAN LAW, her profits in China are TAXABLE HERE IN THE USA?
It’s a crime NOT TO DECLARE her profits in China.
And if she keeps the money in a Chinese bank, any interest is earns in that bank HAS TO BE DECLARED AS INCOME IN THE USA.
We are one of two countries which does not recognize a territorial system. You are taxed as an American FROM ALL SOURCES OF INCOME IN THE WORLD.
There was a time when you could keep your money in Switzerland and it will be a secret account which the IRS does not know about. All that has changed when the Swiss capitulated to American political muscle.
China is so far, one of the few countries that can stand up to the USA and tell our government to stuff it.