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Dissolution and Liquidation of China Company
A company may be dissolved under one of the following circumstances in accordance with Article 180 of the Company Law of the PRC: the term of business operation as prescribed by the bylaw expires or any of the situations for dissolution prescribed in the company's bylaw occurs;the shareholders' meeting or the shareholders' assembly decides to dissolve the company;
China Beijing New Policy Released, Virtual Office becomes Legitimate
The "Implementation Measures on Further Promoting Registration Facilitation of Market Subject and Optimizing Business Environment” issued by Beijing Administration for Market Regulation, the registration authority, was officially implemented on April 28, 2020. The Implementation Measures has made the following breakthroughs in optimizing the business environment.
Standards for Micro, Small, Medium and Large Enterprises in China（2020）
At present, the classification criteria of China's micro, small, medium and large enterprises include three indicators: business revenue, total assets and number of employees, and the classification criteria of different industries are also different. The classification criteria are as below:
Beijing Market Entities Can Voluntarily Apply for Business Suspension
According to Article 211 of the Company Law of the PRC, if a company voluntarily suspends operations for more than 6 consecutive months after opening, its business license may be revoked by the registration authority. Such provision is really unfriendly to companies that are temporarily in financial difficulties and unable to operate normally, but do not intend to close down.
Contribution and Use of Registered Capital of FIE in China
A foreign invested enterprise (FIE) in China, normally registered as a limited liability company, must open a capital account to receive capital contribution from its foreign investors. Once the business license of the FIE is obtained, it is required to apply for and complete a foreign direct investment registration with the local branch of the State Administration of Foreign Exchange through its opening bank before it is allowed to open a capital account.
Wholly Foreign Owned Entertainment Venues are Permitted in China Now
Recently, the Ministry of Culture and Tourism of the PRC released a Circular on Adjusting Approval Conditions for Entertainment Venues and Internet Access Locations, which allows foreign investors to set up wholly foreign owned entertainment venues in China’s mainland.According to the foregoing Circular, foreign investors, investors from Hong Kong Special Administrative Region
The Legal Representative of a China Company
According to the Civil Code of the PRC, the legal representative of a legal person refers to the person in charge who conducts civil activities on behalf of the legal person in accordance with the provisions of laws or the bylaws of the legal person. The legal consequences of civil activities conducted by the legal representative in the name of the legal person shall be assumed by the legal person.
Common Investment Vehicles in China
The most basic form of foreign business presence in China is the Resident Representative Office (RO). A China Representative Office provides a permanent base from which its resident personnel may conduct non-profit business activities related to foreign enterprises. As a practical matter, it is desirable, and in most cases necessary, to establish a formal Representative Office for a foreign company to do the following in China
Powers and Duties of the Key Roles in a China Company
According to the Company Law of the PRC, a limited liability company shall have at least one shareholder, one executive director, one supervisor, one general manager and one legal representative. The primary powers and duties of those key roles are set forth in the Company Law. The details are as follows:
China’s Registered Capital Registration System
According to the current Company Law of the PRC, the registered capital of a Chinese limited company is the capital or shares subscribed by all the shareholders. The liability of the shareholder of a limited liability company is limited to the amount of its subscribed capital contribution, while the liability of the shareholder of a joint‑stock limited company is limited to the nominal value of its subscribed shares.