Good news for everyone over 60 years old, you can now legally work in Shanghai… just so long as you’re a senior executive at a large transnational corporation.
In order to draw in more skilled foreign workers, China has begun to relax some of its visa policies (while also cracking down on illegal foreigners). The latest move comes in Shanghai where those big time execs who were formerly aged out can now apply for “foreign expert certificates” in their sixties to get legal residence. The retirement age for men in China is 60 years old.
CRI reports that these foreign experts may also benefit from loosened home-purchase restrictions and household registration requirements. This goes along with plans last year to expand the social security system to cover foreigners, affording them the same retirement, unemployment, medical and maternity benefits enjoyed by Chinese citizens.
Of course, this would just apply to so-called “foreign experts,” skilled workers at valuable sectors who hold professional titles and have worked in China for at least four years, who are eligible for a rare Chinese green card. Since the current system was launched in 2004, only 5,000 foreigners have been granted a permanent residence permit, out of the hundreds of thousands that have lived in China. If someone is not an investor, executive or tech expert, the law requires that an applicant has made “outstanding contributions” to China. For instance, last year, Stephon Marbury got one.
Better start working on that resume.