The shareholder’s right of first refusal is established based on the attribute of combination of people of the limited liability companies, and the purpose is to maintain the trust relationship between the shareholders. The direct legal basis is Article 71 and Article 72 of the Company Law of the People’s Republic of China.
When the conditions for the dissolution of foreign invested enterprises are met, an application for termination shall be submitted on its own and reported to the examination and approval authority for approval. A liquidation group shall be established within 15 days from the day when the cause of dissolution arises, and liquidation shall begin.
What is dormancy of enterprise? Dormancy of enterprise means that an enterprise is allowed to suspend its operation while still retaining its registration status with the registry office. Dormant companies are quite common in overseas countries or regions. For example, in Hong Kong, a private company may pass and deliver to the Registrar of Companies for registration a special resolution declaring
According to the Company Law of the PRC, if a company voluntarily suspends operations for more than 6 consecutive months after opening, its business license will 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. In this regard
High-tech enterprise refers to resident enpterprises registered in China (Hongkong, Taiwan and Macau are excluded), who consistently engages in research & development and transfers technological achievements to form the core independent intellectual property rights within the high-tech fields supported by the state.
According to Article 2 of the PRC Regulations on Administration of Registration of Representative Office of Foreign Enterprise, representative offices of foreign enterprise (hereinafter referred to as “representative office / RO” refers to the offices established by foreign (region) enterprises in accordance with the Regulations within China engaging in non-profit activities that are related to their business. A representative office / RO is not a separate legal entity.
A Permanent Representative office of a foreign enterprise is a non-legal entity operating in China representing its parent company. A representative office is not allowed to engage itself in business activities, issue invoices on its own, signing sales or purchase contracts, or receiving income from services performed but may act as a liaison and promotion office for its parent company.
The business scope of a Permanent Representative Office (RO, also known as Resident Representative Office) should be clearly stated in the application document prepared by the applying foreign enterprise. After approval by the relevant authority and registration with the AIC, the business scope will be stated in the Registration Certificate of the Permanent Representative Office (RO).
Limited Liability Company (LLC), a Company type generally referred to as a Wholly Foreign Owned Enterprise (WFOE). The Wholly Foreign Owned Enterprise (WFOE, also known as Wholly Owned Foreign Enterprises, WOFEs) is a Limited liability company wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for encouraged manufacturing activities that were either export orientated or introduced advanced technology.
Name of the company to be registered,Particulars of the Shareholder,Legalised identification documents of the shareholder,Organisational Chart and Beneficiary Owner.Legal Representative,A photocopy of the identification document (i.e. passport for foreigner or identity card for Chinese national) and full residential address of the legal representative.