The first thing to understand is the conditions for setting up a commercial factoring company. Enterprise investors should have experience in commercial factoring business or related industries. Investors of enterprises should have the corresponding asset scale and financial strength to carry out factoring business, have a sound corporate governance structure and a sound risk internal control system, and have no recent record of violation of regulations. When applying for establishment, an enterprise shall have at least two senior managers with management experience in the financial field and no bad credit record. Enterprises shall be established in the form of companies. The registered capital is not less than 50 million yuan, and all of them are contributed in cash. Have a sound internal control system, including but not limited to risk assessment, business process operation, monitoring and other systems. In addition to meeting the above conditions, a financial leasing company engaged in commercial factoring business must also meet the requirements for the establishment of a financial leasing company.
Then we need to know the business scope of commercial factoring: import and export factoring; Domestic and offshore factoring business; Consulting services related to commercial factoring; Other related businesses with permission.
Enterprises engaged in commercial factoring business shall not engage in the following activities: absorbing deposits; Issue loans or be entrusted to issue loans; Specialized in or entrusted to carry out collection business and debt collection business unrelated to commercial factoring; Entrusted investment; Other activities prohibited by the state.
Finally, let's learn about the establishment procedures of commercial factoring companies:
The establishment procedures of commercial factoring companies are divided into domestic commercial factoring companies and foreign commercial factoring companies.
Procedures for establishing domestic commercial factoring companies. If a domestic factoring company engaged in commercial factoring business or an established domestic financial leasing company applies to concurrently engage in commercial factoring business related to its main business, they shall apply to the FTZ Industrial and Commercial Branch, which shall go through the registration formalities after consulting the opinions of the FTZ Administrative Committee.
2. Procedures for the establishment of foreign-funded commercial factoring companies. A newly established foreign factoring company engaged in commercial factoring shall first apply to the FTZ Administrative Committee, and after obtaining the filing certificate issued by the FTZ Administrative Committee, it shall go through the registration formalities at the FTZ Industrial and Commercial Branch. Newly established and established foreign-funded financial leasing companies applying to run commercial factoring business related to their main business shall apply to the Free Trade Zone Management Committee, which shall issue approval documents, and the enterprise shall go through the registration formalities with the Shanghai Administration for Industry and Commerce with the approval documents and certificates.
Materials to be submitted for the establishment of a commercial factoring company: provisions on risk control system such as risk assessment and monitoring; Proof of experience in commercial factoring business or related industries; Qualification certificates of management personnel and personnel of risk control department; The latest year's audit report of each investor audited by an accounting firm.
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