DetailsAccording to a statement released after a State Council executive meeting presided over by Premier Li Keqiang on May 16, some measures will be taken to reduce the time that foreign-invested enterprises need to register their business. From June 30 2018, it will be easier for foreign-invested enterprises to file and register their business. The procedures will be paperless and free of charge, and will not require a personal appearance. To facilitate the implementation, banks, customs, tax and foreign exchange agencies are requested to share business information and to coordinate with each other.
China has been trying for easier access for foreign investment in China with a series of favorable policies. More than 35,000 foreign-invested enterprises were established on the Chinese mainland last year, with direct investment of 878 billion yuan.
The Chinese government strives continuously for a better investment environment. The measures proposed this time are specific measures to facilitate trade and investment, and are also measures to create a high-quality business environment.
When you are considering establishing a foreign-invested enterprise in China, some requirements shall be met. For example, your foreign-invested enterprises need a qualified name, qualified shareholders, qualified articles of associations and a qualified domicile. If special administrative measures of access of foreign investment are involved, a foreign-invested enterprise needs to obtain the certificate and approval for foreign-invested enterprises. Despite a series of favorable policies, there are also risks to be avoided. When you are considering establishing a foreign-invested enterprise, you¡¯d better engage a lawyer to streamline the process.