Procedures
for Establishing the Foreign Funded Company
1. Conditions for establishment
In accordance with the laws and regulations of
the People's Republic of China foreign traders, manufactures, shipping
agents, economic organizations and groups willing to establish a foreign
funded company shall apply to Beijing Municipal Foreign Economic and Trade
Commission (BMFETC) or Foreign Economic and Trade Commission for examination
and approval. Beijing Foreign Investment Service Center (hereinafter referred
to as "the Center") has received the authorization of BMFETC
and the Foreign Economic and Trade Commission to act as an agent for the
above-mentioned companies in undergoing the examination and approval procedures.
2. Required documents and procedures:
- The copies of legal documents sanctioning
operations of the businesses run by the Chinese and the foreign party
the country or region in which they operate. Foreign private investors
shall submit the copies of passports, compatriots from Hong Kong SAR,
Macao SAR and Taiwan shall present related identity document.
- The letters of reference for the investors,
issued by the banks of foreign country or a region. Reference letter
shall among other information, state clearly the reputation of the
flexing capitals of the investor after the opening of the account.
The bank letter of reference shall be signed by the person in charge
or business manager of the bank. (original document shall be submitted)
- Application for establishing the foreign
funded company. Application shall include: the purpose of the company,
scope of business, location, time of operation, etc. Application shall
be signed by the legal representative of the company and bear its
official chop (the Center can assist in drafting the document)
- Foreign funded company articles of
association (the Center can assist in drafting the document)
- Foreign funded company feasibility
study report (including the company's backgrounds, market analysis,
economic study and forecast etc.)
- The originals of the appointment letters
for the members of the board of the foreign funded company signed
by the chairman of the board or the general manager of the investor
company. The originals of the appointment letters for the general
manager and vice general manager of the foreign funded company signed
by the chairman of the board or the general manager of the investor
company.
- The resumes and identity documents
of members of the board of directors or of general manager and the
deputy general manager. In addition, the personnel of foreign nationality
shall submit the copies of passports, the compatriots from Hong Kong
SAR and Macao SAR shall submit the copies of returning home certificate.
- The copy of the lease agreement for
the company's location. Leasing period for the office shall be at
least one year.
3. Other procedures
After receiving the business license the foreign
invested enterprise shall undergo the following procedures (the cost of
each of the procedures is 850 RMB not including the fees collected by
the government authorities concerned).
- Register in the Public Security Bureau
- Apply to the Public Security Bureau for the official
chops (legal representative chop, enterprise chop, chop for use in
financial matters, contract chop, chop for use in contacts with customs
office, etc.)
- Register for the code certificate in the Technological
Supervision Bureau
- Register in the foreign exchange administration bureau.
- Open an account in the bank
- Register in the State Taxation Bureau
- Register in the local Taxation Bureau
- Register in Statistical Bureau
- Verification of the enterprise's capital (there is
a separate fee for that service)
- Register in customs authorities
- Register in Financial Bureau
- Register in local Industry and Commerce Bureau
- Register in local Labor Bureau
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