The Definition and Relevant Policies and Laws
Definition: Foreign companies, enterprises and economic organizations or individuals (hereinafter referred to as “foreign investors”) establish within China foreign-funded commercial enterprises and engage in such business activities like commission agency, wholesale, retail, franchising, import and export of commodities.
Relevant policies: Measures for the Administration on Foreign Investment in Commercial Fields promulgated in 2004 by the Ministry of Commerce.
Application Procedures
To get the contact sheet for the prior approval of the company’s name at the service desk of Foreign Trade and Economic Cooperation Bureau of the county----- Prior approval of the company’s name at the service desk of the county and the municipal Administration for Industry and Commerce----- Preliminary examination at the service desk of the Foreign Trade and Economic Cooperation Bureau of the county----- Approval by the Foreign Trade and Economic Cooperation Bureau of the province----- To obtain the Certificate of Approval at the service desk of the Foreign Trade and Economic Cooperation Bureau of the province----- To obtain the business license at the service desk of the municipal Administration for Industry and Commerce
Documents Required
1. Application
2. Feasibility study report signed by the investor
3. Articles of Association and the attachment
4. Notice of prior approval of the company’s name issued by the Administration for Industry and Commerce
5. Name list of members of the Board of Directors of the commercial company and letters of appointment for directors issued by the investor
6. List of commodities to be imported and exported by the company
7. Photocopy of house lease agreement and the certificate of the property right for the planned store
8. Photocopy of the certificate of the right to use the land for the planned store and (or) photocopy of house lease agreement except when the business area of the store to be opened is less than 3,000 square meters
9. Document provided by local commercial authorities explaining that the project corresponds to the city development and urban commercial needs
Documents required from foreign investor
(Ⅰ) Invested by personal
(1) Photocopy of the identity certificate of the foreign investor (the original of notarization by notary offices overseas and the original of attestation by the Chinese embassies or consulates)
(2) banker's reference(please indicate the account opening date, account number, deposit digit, credit standing)
(Ⅱ) Invested by enterprise
(1) Photocopy of the business license (the original of notarization by notary offices overseas and the original of attestation by the Chinese embassies or consulates)
(2) Banker's reference(please indicate the account opening date, account number, deposit digit, credit standing)
(3) Audit reports of the investor in the previous year prepared by accounting firms
(Ⅳ)Other formalities including
1. To apply at the municipal Quality Supervision Bureau for the Corporate Legal Person Organization Code Certificate
2. Taxation registration at the State Tax Bureau and Local Tax Bureau of the county
3. Foreign exchange registration and to apply for the opening of capital account at the municipal branch of Administration of Foreign Exchange
4. Registration on file at Shaoxing Customs
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