(a) according to the laws of the project location or the requirements of the transferor to purchase the equity of overseas enterprises or the rights and interests of overseas assets, the deposit to be paid;
(two) in the process of bidding for overseas projects, the bid bond to be paid;
(3) Expenses for conducting market research, renting office space and equipment, hiring personnel and hiring overseas intermediary agencies to provide services before conducting overseas direct investment.
Article 14 The upfront expenses for domestic institutions to remit abroad shall generally not exceed 15% of the total amount of overseas direct investment that domestic institutions have applied to the competent department of overseas direct investment (hereinafter referred to as the total amount of overseas direct investment), and they shall apply to the local foreign exchange bureau with the following materials:
(1) A written application (including the total amount of overseas direct investment, the amount and method of investment by all parties, the amount, purpose and source of funds required for upfront expenses);
(2) The valid business license or registration certificate and organization code certificate of the domestic institution;
(3) Relevant documents (including letter of intent, memorandum or framework agreement signed by Chinese and foreign parties) of domestic institutions participating in bidding, merger or joint venture cooperation projects; ?
(4) A written application submitted by a domestic institution to the competent department of overseas direct investment;
(5) A written commitment letter on the use of upfront expenses issued by a domestic institution;
(6) Other relevant materials required by the foreign exchange bureau.
If the upfront expenses of overseas direct investment remittance really need to exceed 15% of the total amount of overseas direct investment, the domestic institution shall apply to the local branch of the State Administration of Foreign Exchange (including the foreign exchange management department) with the above materials.
Designated foreign exchange banks shall go through the formalities of purchasing and paying foreign exchange for domestic institutions with the approval documents of the foreign exchange bureau, and feed back relevant information to the foreign exchange bureau in time.
Article 15 The upfront expenses for domestic institutions to remit abroad shall be included in the total overseas direct investment of domestic institutions. Designated foreign exchange banks shall deduct the upfront expenses for the remittance of overseas direct investment funds of domestic institutions.
Article 16 If a domestic institution fails to complete the approval procedures for overseas direct investment projects within 6 months from the date of remittance of the upfront expenses, it shall transfer the remaining funds in the overseas account back to the domestic foreign exchange account where the funds were originally remitted. If the remitted foreign exchange funds are purchased in RMB, they can go to the designated foreign exchange bank for settlement with the original purchase certificate.
The local foreign exchange bureau is responsible for supervising the repatriation of the remaining upfront expenses by domestic institutions. If the preliminary work is really necessary and approved by the original approved foreign exchange bureau, the above six-month period may be appropriately extended, but the longest period shall not exceed 12 months.