I cosigned my wife's mortgage with CCB. Her name is on the property deed, as it's seriously complicated to transfer title deeds for foreigners. There's some paperwork showing the paper trail of income and bank account cashflow but nothing spectacularly difficult or complicated to overcome. My name on the mortgage, but wife's name ONLY is on the property deed, so technically I legally own NO overseas property for home country taxation purposes.
There'll be a plethora of taxes and fees associated with either property transfer or a purchase. Your real estate agent should be able to provide a list. If they can't - you're using the wrong agent. The gov real estate office also has a list of fees and taxes - but they probably won't give you the time of day for casual requests for information.
If you buy a new property - expect to spend upwards of CNY 200-300k for renovation from bare concrete walls to a move-in livable space. We used a reasonably reputable interior design and decoration firm to manage the entire process. Infinitely less stressful. You should do your own research so you know prices of labor and materials, so you'll understand ballpark numbers BEFORE you go shopping. Also beware the bait & switch - which is why we used a reasonably reputable interior designer. We also aired out our apartment for a couple of months, stuffed the closets with large shopping bags full of tea to instill the tea aroma as opposed to the smells of glue and paint. Tea also functions as a desiccant (sucks humidity out of the air), so there's that. I would NOT advise using the tea downstream for drinking. Seems it's a well known rural practice amongst tea farmers (who probably resell the tea once its served its purpose).
On that note - generally, property or other major assets acquired AFTER marriage are considered community property in China - regardless of how one tries to hide or manipulate the assets.
Good luck and best wishes.
Metro Line 5 connects Kunming's top attractions
发布者This was and still is an excellent and timely article. The comments also fantastic and helpful. Thank you.
COVID-19 vaccinations for expats in Kunming available until July 18
发布者Yereth & gokm
Thanks much for timely and potentially important information.
Yunnan's capital scrambles as 'Civilized Kunming' audit looms
发布者It's been a long haul - but seems Kunming finally made it to the list of "civilized cities".
Congrats!
REFERENCE
www.kunming.cn/en/c/2020-11-10/13086919.shtml
Kunming Metro Line 4 and Line 6 (phase 2) officially in operation
发布者Yereth
I was thinking that gokm could maybe get the Kunming Tourism Dept and the KM Metro et al to pay for a professionally illustrated bilingual PDF map and maybe start a series of web articles and videos on things to do and see (and eat) at each station - aside from the major tourism venues.
NHK (Japan) did this about 20 years ago - very popular and interesting series - inspires people to get out, socialize (when it's safe) and support local businesses...or not.
Kunming Metro Line 4 and Line 6 (phase 2) officially in operation
发布者Grace
The referenced map was an ANCIENT planning map...hence the hint hint hint hint to the gokm staff - when they have budget and absolutely nothing better to do with their time...
Yereth's map is great as a geographic index - but most high density subway maps (Beijing, Tokyo) go for the symbolic stations shown in the ancient picture I referenced. These things are great as either screensavers, desktop wallpapers, or mobile phone pictures (screensavers, wallpapers) for those who commute within the bellies of these steel dragons.
I used to carry around subway maps on small plastic cards (doubled as my prepaid card) when exploring these cities. Each station had uniquely popular venues for both tourists and long-term locals alike (popular eateries, shopping boutiques, etc).