Do not sell Jamaica lands to China

By Michael Spence

Michael Spence

Jamaica seems to have, or be about to have, a no-holds-barred foreign investment arrangement with China and other countries. Jamaicans must become aware that nobody can buy land in China, not even Chinese citizens. All land in China belongs to the state, cities, or rural collectives in villages.

What you buy is the building and a land use right for a fixed term  for 70 years residential, 40 years commercial, 50 years industrial. Jamaica should adapt this procedure.

What can foreigners do in China:

1. As an individual: You can buy one completed residential unit for self-living, not for investment/speculation. 

Conditions:

If you have worked or studied in China for at least 12 months on a residence permit. 

Provide tax/social security proof (Beijing/Shanghai enforces this strictly) only in the city where you work.

2. As a business:

A foreign-investment enterprise can acquire land use rights for business operations, but only after Ministry of Commerce and local land bureau approval. It's not freehold. You lease the rights from the government.

The law states residential use rights renew automatically at expiry, but renewal fees have not been finalized.

So if any Jamaicans are thinking of buying acreage like you would in Jamaica, USA, Guyana , Barbados, Canada or Cayman, Faget it".

In China, you cannot buy land. You are allowed to lease use rights from the state. Likewise, China should not be sold or given land anywhere; they should only be allowed to lease for a specific time and usage.

What is good for the goose is good for the gander.

Michael Spence

Michael Spence is a graduate of Cornwall College and the University of the West Indies. He is a trained teacher, a sociologist, and a writer for Bark Di Trute.

Micspen2@hotmail.com 

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For more details on these wanted persons, please click on the link below:

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