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| Investment - Investment Procedure | |||||||||||||||||
Procedures for Establishing Enterprises with Foreign Investment At present, projects with foreign direct investment, whose total investment is less than 30million US , can be examined and approved in Beihai. The application procedures for establishing an enterprise with foreign investment are shown in the table below:
Note:All procedures for invested projects will be provided with a series of services by the Application for setting up a project The enterprise shall apply for setting up the project before working out a feasibility study. If the project such as a hotel etc, is restricted by the state and is large it must be handled in a comprehensive way by the state, Guangxi Province or Beihai Municipality . Other ordinary projects do not need to go through these procedures. Documents needed for setting up a project: A. Legal status certificate(copy) of the investor and credit report of the foreign partner; B. Application report for the project; C. Project proposal; D. Letter of Intent for joint venture or cooperation; E. Written opinion of the authority of the Chinese side (Item D & E are unnecessary for wholly foreign owned enterprises). The documents above should be submitted in triplicate. Submission of a feasibility study To work out a feasibility study which includes the following items: investment scale, description, nature and land area of the project, number of employees, transportation, energy, sanitation, environment protection, fire control, raw materials supply, technical process, marketing etc. Documents needed for the submission of a feasibility study: A. Applying for the approval of the feasibility study; B. Feasibility study; C. The appendix of the feasibility study ad the blue-line map of land use issued by the City Programming Bureau; D. Approval document of project proposal ( Item A & D are not needed for wholly foreign owned enterprises) The documents above should be submitted in triplicate. Documents needed for name registration: A. Name Registration Form; B. Project proposal; C. Feasibility study and approval documents. One for Sino-Foreign joint ventures. For wholly foreign owned projects it should be submitted in triplicate. Applying for an approval certificate for the enterprise with foreign investment The following documents are needed: For a joint venture: A. Legal status certificate ( copy) and credit reports of both sides ( For foreign partner, within three months); B. Application of the Chinese partner; C. Contract and constitution signed by and between both sides; D. Registration form of the enterprise's name; E. Project proposal feasibility study of the project and the approved document; F. List of members on the board of directors or other leading organs, director's letters of entrustment, ID certificate of foreign partner, resumes of directors of the Chinese side; G. Legal representatives' certificates of both sides; H. Other documents which the examination and approval authority considers necessary. Four copies of the above documents should be submitted. For a wholly foreign owned enterprise: A. Credit certificate of the foreign partner (within three months); B. Submission of application; C. Constitution; D. Project proposal and approved document and feasibility study of the project; E. List of members on the board of directors and director's letter of entrustment, ID certificate of foreign partner; F. Registration form of the enterprise's name; G. Business license; H. Other documents necessary; Four copies of the above documents should be submitted. Industrial & commercial registration The enterprise should proceed with related formalities to BICA ( Bureau of Industrial & Commercial Administration) and receive a business licence within 30 days after it has received and approval certificate. Documents needed are as follows: A. Credit certificate of investor; B. Application form; C. Transcript of approval certificate; D. Copy of contract, constitution and approval documents; E. Project proposal, feasibility study and approval documents; F. Registration form of the enterprise's name; G. List of members on the board of director, letters of entrustment of directors, manager and vice managers, director's ID certificate and resume of Chinese partner and their position ( wholly foreign owned enterprises, need ID certificates and resumes of above-mentioned foreign members) and photos of the enterprise legal person's representative and project contact person; H. Other related documents such as certificates of location, water, electricity, environmental protection and construction conditions. Above-mentioned documents should be submitted in triplicate. Other procedures after registration A. Opening an account in the bank; Documents needed are as follows: a. Registration form of the enterprise's basic situation; b. A copy of the approval documents of examination and approval authorities according to the regulations and approval certificate; c. A copy of the business licence; d. Contract, constitution and approval documents; e. Other related documents; Documents needed for opening a RMB account: a. Application for opening an account b. Original business licence B. Tax registration Documents needed are as follows: a. Application for tax registration b. A copy of approval certificate c. A copy of the business licence C. Customs registration Documents needed are as follows: a. A copy of the business licence b. A copy of the approval certificate c. Contract, constitution and approval documents d. Feasibility study and its approval document D. Receiving land use certificate Documents needed are as follows: a. Application for land use b. Feasibility study and its approval document c. Environmental protection examination and approval form d. Contract, constitution and the approval documents e. A copy of the approval certificate f. A copy of the business licence g. Credit certificate h. Land distribution diagram |
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