Chaoyang District in Beijing continues subsidizing foreign talents who invest in China through “Phoenix Plan”, including financial aids and other support.
There are four industries that could apply for the Phoenix Plan: Culture, High-tech, Finance and Modern Service. The basic requirements are:
- Independent legal person company that is registered and pays tax in Chaoyang District. So the applicant company must be one that is already registered in Chaoyang District.
- The talent applicant can be foreign or Chinese individual
- The new round of application in 2015 starts in April, and the enterprises registered after 1st January 2014 can apply.
- Applicant company’s registered capital should be at least RMB 500,000.
Please refer to the official website of Chaoyang Overseas Talent Center http://www.tocbd.gov.cn for latest application procedures (The website is only in Chinese. If you need English support, please contact us).
The application period in 2015 is from April to November. The fund will be put in place in April next year. For now, Phoenix Plan application is once a year, and the funding doesn’t take any shares of the company, but needs to pay corresponding tax. The Finance Department of Chaoyang District allocates RMB 30 million to support the Phoenix Plan.
