According to the current relevant laws and regulations, enterprises and other economic organizations in China ("domestic investors") must abide by the following provisions and perform the following procedures when investing and establishing non-financial enterprises (institutions) abroad:
Domestic investors applying for overseas investment shall meet the following conditions:
(a) registered in the administrative department for Industry and commerce;
(two) good credit, no record of illegal acts;
(three) have the corresponding talent, capital and technology, and have certain research and development, production, operation and management capabilities.
Two, the county bureau of commerce to apply to the Beijing Municipal Bureau of Commerce, and submit the following application materials:
(1) Application (including introduction of domestic and foreign investors, name of overseas enterprise (or institution), registered capital, investment amount, business scope, business term, organizational form, shareholding structure, etc.);
(two) the opinions of the competent commercial department of the county or its subordinate bureau (head office) in the place of registration;
(3) Articles of association of the overseas enterprise, relevant agreements and articles of association, working systems of overseas institutions (offices and representative offices) and resumes of the principal responsible persons;
(4) A copy of the business license of the domestic investor and relevant qualifications or qualification certificates required by laws and regulations;
(5) resolutions of the board of directors.
(six) other materials that need to be submitted according to the relevant provisions of the state.
Three. If a domestic investor wants to remit foreign exchange from China when setting up an enterprise abroad, it shall submit the following materials to the foreign exchange administration department at the same time as submitting the above-mentioned application for examining the source of foreign exchange funds to the Shanghai Municipal Bureau of Commerce:
1. Fill in the application form for examining the sources of foreign exchange funds for overseas investment;
2, the feasibility study report of overseas investment projects;
3. Business license (copy) that has passed the annual inspection by the administrative department for industry and commerce;
4. The balance sheet and income statement of the previous year audited by a certified public accountant;
5. Proof of the source of foreign exchange funds, including: if self-owned foreign exchange funds are used, the approval document for opening a foreign exchange account and the latest balance sheet shall be provided; Where domestic commercial foreign exchange loans are used, the letter of intent for loans signed by the investor and the lending bank, the financial business license and business license of the lending bank shall be provided; Where domestic policy foreign exchange loans such as foreign aid joint venture fund foreign exchange loans and foreign trade development fund foreign exchange loans are used, the approval documents of the relevant competent departments for approving the use of policy funds shall be provided;
6. Other required materials.
Four. The following documents shall be submitted for foreign exchange registration of overseas investment:
1, approval document;
2. Review opinions on sources of foreign exchange funds;
3. Investment project contracts or other documents that can prove the amount of foreign exchange funds that domestic investors should remit.
Five, the Shanghai Municipal Bureau of Commerce on behalf of the approved overseas enterprises (or institutions) issued by the Ministry of Commerce unified printing "People's Republic of China (PRC) * * * and overseas investment approval certificate".
Six, the main person in charge of the Chinese side of foreign enterprises or institutions, should immediately hold a copy of the approval certificate to the business office of our embassy (consulate) abroad for registration.
Seven, approved overseas enterprises and institutions in the local registration 15 days, the copy of the registration documents submitted to the Shanghai Municipal Bureau of Commerce.
Eight, overseas investment enterprises in the local registration and account opening, should be within 30 days of the local registration certificate and enterprise bank, bank account number and other related materials, by its domestic investors submitted to the foreign exchange management department for the record.
Nine, domestic investors must submit the approved statistical statements and annual reports of overseas enterprises in accordance with the provisions, and participate in the comprehensive performance evaluation and annual inspection of overseas enterprises.
Ten, domestic investors from overseas investment profits or other foreign exchange income, must be repatriated within six months after the end of the local fiscal year, in accordance with the provisions of the state for foreign exchange settlement or cash retention. Without the approval of the foreign exchange administration department, it shall not be used for other purposes or stored abroad without authorization. The profits or other foreign exchange gains shared by domestic investors from overseas investment enterprises shall be fully retained within five years from the date of establishment of overseas investment enterprises, and the retention shall be calculated according to relevant state regulations after five years. (eleven) the annual accounting statements of overseas investment enterprises, including balance sheets and profit and loss statements, shall be submitted to the foreign exchange bureau by their domestic investors within 6 months after the end of the local accounting year.
Twelve, overseas investment enterprises in accordance with the laws of the host country (region) after the closure or dissolution, its domestic investors shall repatriate their foreign exchange assets, and shall not be used for other purposes or stored abroad.
Thirteen, domestic investors to use foreign exchange funds for overseas investment profits or other foreign exchange gains, must be repatriated to the territory on schedule and go through the formalities of foreign exchange settlement. The foreign exchange quota after settlement of foreign exchange shall be reserved for domestic investors within five years from the date of local registration of the enterprise; After five years, 20% will be turned over to the state and 80% will be left to domestic investors; Without the approval of the foreign exchange administration department, it shall not be used for other purposes or stored abroad without authorization.