Foreign Professionals Can Now Apply for Residency Permits
As of Thursday any foreign professionals who are working for institutions and enterprises in Qianhai can now apply for permanent residency in Shenzhen. Qianhai is a 15 kilometer coastal strip next to Nanshan District that is being developed into a modern service industry hub by Shenzhen and Hong Kong and construction of a massive infrastructure is already on its way.
To gather more information on eligibility and for applications foreign professional can contact the Qianhai management bureau. Foreign professional can apply for residency permits that will be valid two years up to five years. Spouses and children under the age of 18 can also apply for residency permits. All application submitted will undergo a preliminary review 30 days upon submission. As of January the Qianhai management bureau signed contracts with 52 managements with 20 of these are Fortune 500 enterprises. Shenzhen is home to around 189 Fortune 500 companies.
The local government has also approved a development plan for the Qianhai area and the said experimental financial zone will take form in the next seven years.