Frequently Asked Questions

What is the project and construction timeline for Sino Swiss Inno Park?

Sino Swiss Inno Park is in its final construction stage and is targeting to open for tenant move-ins starting in April 2025, with viewings available starting in October 2024.

What are the leasing and payment terms for Sino Swiss Inno Park?

Normal leasing terms are from 2 to 5 years. Payment terms are as stipulated in our leasing contract, which is based on Hong Kong jurisdiction. We accept payments by cheque or bank transfer.

How is the existing regulatory environment in China?

China’s regulatory environment has become increasingly favorable for foreign investment through several key measures. The reduction of sectors on the “Negative List,” implementation of the Foreign Investment Law (FIL), and the establishment of Free Trade Zones (FTZs) provide more opportunities and protections for foreign investors. The opening up of financial markets, improved intellectual property protection, and streamlined business processes further enhance the appeal. Additionally, China’s participation in bilateral and multilateral agreements and its focus on high-tech and innovative industries underscore its commitment to attracting foreign capital.

What are the existing tax policies for businesses and individuals?

In China, businesses are subject to a flat corporate income tax rate of 25%. It’s important to note that Inno Swiss is categorized in the top tier of the hi-tech development sector, and as a result, all tenants in Inno Swiss receive a preferential rate of 15%.

Value-added tax (VAT) applies at rates of 13%, 9%, or 6% depending on the goods or services. Social security contributions are mandatory for employers and employees. Individual income tax ranges from 3% to 45%, with progressive rates and various deductions. Social security contributions for individuals are also required. Property taxes are being piloted in certain areas. Other taxes include customs duties, stamp duty, and vehicle taxes.

What are the legal frameworks supportive of foreign investments?

China has enacted various legal frameworks to support foreign investment, including the Foreign Investment Law, which ensures equal treatment and protects intellectual property rights. Free Trade Zones offer preferential policies to facilitate investment and trade, while bilateral investment treaties safeguard investors’ rights. The Catalogue for the Guidance of Foreign Investment Industries clarifies investment policies, and a national security review mechanism assesses investments in sensitive sectors. Additionally, China has strengthened intellectual property protection laws to enhance investor confidence. These measures collectively aim to create a transparent and conducive environment for foreign investment, fostering economic growth and international cooperation.

What are the conditions for talent and labor recruitment, and what labor laws are related to them?

In China, talent and labor recruitment operate under strict adherence to labor laws, which mandate written contracts outlining terms such as job responsibilities, working hours, and wages. Minimum wage levels are set by provinces and municipalities, while standard working hours are capped at 8 hours per day and 40 hours per week. Employers and employees must contribute to various social insurance schemes, and foreign nationals seeking employment require work permits and residence permits. Discrimination is prohibited, and termination procedures must follow specific criteria, including providing severance payments. Compliance with these regulations ensures fair employment practices and protects the rights of workers in China.

What are the societal, commercial, and cultural conditions for foreign expats and their families in China and Inno Swiss?

Living in China as a foreign expat and their family involves navigating various societal, commercial, and cultural conditions. Societally, expats encounter a blend of traditional values and modern urban lifestyles. Inno Swiss, with its international communities and amenities including schools and entertainment facilities, provides a favorable base for them. Commercially, China’s dynamic economy offers ample job opportunities, particularly in sectors like technology, finance, and manufacturing. Culturally, while adapting to Chinese customs and etiquette is essential, Inno Swiss presents an intriguing mix of tenants, vendors, and customers from diverse nationalities, enriching the cultural experience. Despite some challenges, China offers rich cultural immersion, career advancement prospects, and the opportunity to engage with one of the world’s oldest civilizations.

What are the fitting-out and contracting support and requirements in Inno Swiss?

Sino Swiss Inno Park provides full interior fitting-out design and contracting services to our tenants. However, tenants are also free to appoint their own designers and contractors for their interior fitting-out work. A fitting-out guide will be provided. Before any fitting-out work is carried out, submission to our management company is necessary.