To facilitate foreigners to carry out business or trade activities, work and study in China, the Ministry of Public Security of the PRC recently released some measures as follows:
Issuance of Port Visa and Multiple-Entry Business Visa
Foreigners who visit China for activities, such as business negotiations, business and trade exchanges, installation and maintenance, participation of exhibitions and conference, investment and entrepreneurship, can apply for a port visa upon arrival at the port of entry by presenting an invitation letter from a domestic enterprise and proper supporting materials if they do not have time to apply for a visa abroad. Foreigners who need to enter China multiple times for business purposes will be allowed to reissue a multiple-entry business visa (M visa) valid for three years after entering the country.
Port visa authorities will issue corresponding types of visas based on the applicants' reasons for entry. The visas issued by the port visa authorities are only valid for a single entry and the duration of stay shall not exceed 30 days.
Retention of Passport During Residence Permit Application
Foreigners applying for residence permits in China will now be allowed to keep their passports during the processing of their application after verifying their passport as required. It will enable the foreigners to handle other issues with their passport during the residence permit application process.
The above measures are expected to be implemented starting from September 2023. But the specific implementation rules have not yet been announced.
KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
In order to better meet and facilitate the business and capital operation needs of domestic enterprises, the State Administration of Foreign Exchange has unified and standardized the management of the willing settlement and payment of foreign exchange income under capital accounts throughout the country.
Mainland Chinese who need to attend and visit exhibitions in Taiwan, and who meet the following qualifications may be considered by the Taiwan immigration for an Exit & Entry Permit:Applicants who serve as a person in charge or manager of a multinational enterprise, or to engage in specialized or technical service.
Summary of Deduction Items and Standard for CIT in China. Deduction Items: Entertainment expenses; Standard of Deduction/Proportion of Limit: MIN（60%，5‰）; Remark: 60% of the acutal entertainment expense versus 5‰ of the sales revenue, the lower one is allowed to be deducted；The dividend, equity transfer income of equity investment enterprise can be calculated as sales revenue
Business entertainmnet expenses refer to the various entertainment expenses paid by enterprises for the reasonable needs for daily operation, which mainly include expenses incurred in business negotiation, product promotion, external liaison, public relations, conference reception, etc.
