Shenzhen offers up to ¥6M in subsidies to outstanding talents

Shenzhen has revised its rules for the payment of subsidies to high-level talents, which became effective recently, Shenzhen Special Zone Daily reported yesterday.

According to the revised rules, high-level talents refer to outstanding talents, national and local leading talents, reserve talents and overseas talents recognized by Shenzhen after March 23, 2016.

The amount of subsidies provided for high-level talents remains unchanged. Outstanding talents are eligible for a subsidy of 6 million yuan (US$942,600).

National leading talents and overseas talents in Category A, local leading talents and overseas talents in Category B, and reserve talents and overseas talents in Category C can receive a subsidy of 3 million yuan, 2 million yuan, and 1.6 million yuan, respectively.

For outstanding talents recognized by the city after March 23, 2016, their employers can apply for work funds dedicated to them. The 1-million-yuan funds are given to the employer at one time, and one outstanding talent can apply for the funds only once.

Although the amount of subsidies for high-level talents is unchanged, there are more specific requirements for subsidy applicants, according to the rules.

The applicant must have a full-time job in Shenzhen, and neither the applicant nor his/her spouse has purchased any government-subsidized housing in the city. Meanwhile, the applicant and his/her spouse should have not enjoyed the rent-free housing policy for 10 years with an area of about 200 square meters.

If the applicant is a local leading talent or a reserve talent, he/she should also have permanent residence status in Shenzhen.

According to the rules, the subsidies for high-level talents are granted over a period of five years. A talent is paid once in each tenure year, and each payment is calculated according to the actual number of months that meet the conditions.

The subsidies should be applied for within 12 months after the expiration of each tenure year.

The work funds should be applied for by the applicant within 24 months after being recognized as an outstanding talent. At the time of application, the outstanding talent should have worked full-time in Shenzhen, paid social insurance premiums and declared personal income tax for nine months.