Suzhou has formulated a series of polices to give incentives to talents. A reward of more than RMB250 million yuan will be offered to a variety of talents including foreign talents. Check it out!
High-end Talent Reward
Suzhou High-end Talent Reward Program is oriented towards Suzhou’s forerunner industries and designed to reward high-end talents who have made prominent contributions in forerunner industries and frontier technological industries or who are urgently needed in Suzhou Free Trade Zone.
Eligible high-profile talents will be given a reward ranging from 5% to 20% of their annual salary; each talent can get a reward of as much as RMB400,000 yuan per year.
A total of 1,960 talents were rewarded with over RMB210 million yuan in Suzhou last year (2020).
Among them, 773 are high-end foreign talents, accounting for 39.44%; 363 are core technical backbone, or 18.53%; senior executives in key areas of producer service industry, or 8.83%; 651 are urgently-needed talents in Suzhou Free Trade Zone, or 33.21%.
In the following three years, Suzhou will strive to introduce 10,000 high-profile talents that are urgently-needed for the city’s high-quality development.
Besides, Suzhou’s two county-level cities Taicang and Kunshan as well as Xiangcheng District and Suzhou Industrial Park (SIP) have also formulated their corresponding supporting policies.
Outstanding Contributor Reward
The policy is applicable to the rewards for eligible employees in enterprises or public institutions provided they have worked for one year or longer with an annual salary exceeding RMB300,000 yuan; the enterprises or public institutions they work for should be registered within Suzhou city proper and under the finance and taxation administration of Suzhou. The reward policy is applicable to leading talents, senior executives and core technical backbone from S&T or financial enterprises and locally-recognized talents.
The reward will be no more than RMB1 million yuan per person cumulatively. Besides, the reward will be lower than the receiver’s contribution to local financial resources over the previous year (subject to the assessment by local and Suzhou financial authorities) and also lower than the receiver’s total expenditure in Suzhou including buying or renting cars, houses for personal use, offices, attending professional training, setting up enterprises, etc.
The rewarding policy has been well received by both employers and employees since it was released in June, 2018.
Up to 983 outstanding contributors were selected to share more than RMB36 million yuan in 2020.
A total of 2,674 talents have been rewarded with more than RMB110 million yuan so far, with 69.48% of them being S&T talents.
Jiangsu Province Residence Permit for Overseas High-end Talents Reward
Both overseas high-end talents and their family members can apply for the residence permit.
The amount of the reward will be 40% of the permit holder’s personal income tax paid to local taxation authorities over the previous year and no more than RMB300,000 yuan cumulatively within Suzhou metropolitan areas.
The reward policy was implemented in 2014 and the rewarding process is carried out on a yearly basis.
Up to 95 candidates have been selected to share more than RMB3.79 million yuan in 2020.
A total of 762 talents have been rewarded with more than RMB27.08 million yuan so far.
For more details, please go to www.rcsz.gov.cn or dial 0512-65224600.