Shanghai Pioneers FastPass on Foreign Talents Remuneration FOREX
Why do Foreign Talents Love Shanghai?
Shanghai Pioneers Fast Pass on Foreign Talents Remuneration Foreign Exchange
Since its launch across Shanghai, the Fast Pass on the Foreign Talents Remuneration Foreign Exchange has benefited a total of 798 foreign talents and 275 employers. After the Online Approval for Foreigner’s Work Permit in China (Version 4.0) was released in March 2021, altogether 111,563 applications have been handled, with 237,591 telephone calls for consultations and 36 foreign science and technology talents have been exempted from providing certificates of no criminal record.
As is reported, the Online Approval for Foreigner’s Work Permit in China (Version 4.0) has offered more convenience to attract more foreign science and technology talents for innovation and entrepreneurship in Shanghai. For example, limits in terms of age, academic degree or work experience have been further relaxed, a “Notice + Pledge” System for those with No Criminal Record has been adopted, and application for Confirmation Letter for Foreign High-end Talents by foreign researchers of research teams is supported.
Take a German technical staff in SAP China Co., Ltd., who has benefited from the new policy, as an example. His employer is included in Shanghai sci-tech innovation occupation list, while he, an UI technology enterprise architect, is an urgently needed science and technology talent for the development of the enterprise. Therefore, he enjoys the green channel under the “Notice + Pledge” System, which has brought great convenience for the employer and himself in his application for a work permit.
The Science and Technology Commission of Shanghai Municipality (Shanghai Administration of Foreign Experts Affairs) and the State Administration of Foreign Exchange’s Shanghai Branch have worked together to pioneer the Fast Pass on Foreign Talents Remuneration Foreign Exchange, including the proposed namesake form, to offer foreign talents access to convenient and efficient financial services. Since its launch across Shanghai from March 2021, the Fast Pass on the Foreign Talents Remuneration Foreign Exchange has benefited a total of 798 foreign talents and 275 employers. As many corporate HR departments and foreign talents said, this service has saved them many troubles, simplifying procedures for employers like printing the statements of salary, preparing tax bills, photocopying contracts, and stamping certificates, and greatly reducing the time of foreign talents handling businesses in the bank.
It is also essential to build a good exchange platform for foreign talents. This year, the Foreign Talents in Shanghai Salon attracted 30 high-level foreign experts in Shanghai from 14 countries. The pleasant salon allows experts to join a larger community in Shanghai to break the barriers between disciplines and fields, giving way to cooperation opportunities.
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