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Procedures of Closing a Representative Office in Shanghai

Update Date:2020-7-22 10:21:34     Source:www.3737580.com     Views:47

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As an RO is not a legal personality, the term “deregistration” is used instead of “liquidation”, though the two processes share many similarities. This article compiled relevant info about procedures of closing a representative office in China for your reference.

 

The procedures are as follows:
Step 1: Prior to actual deregistration, the RO must apply to both its local tax bureau and the state tax bureau for tax audit and tax deregistration. To do so, the RO must first undergo an audit by a local Chinese CTA firm for taxes owing from the past three years.

 

Step 2: The RO should then deregister its foreign exchange registration at the local SAFE and customs registration in the local Customs. In case it does not have such registrations, it still needs to get corresponding official statements from the bureaus in charge as proof.

 

Step 3: The enterprise should close its bank account. Unissued checks and deposit slips will need to be returned to the bank and any funds remaining in the account should be transferred out. If the RO intends to transfer the account to its parent company, it will be required to provide reasons for doing so and seek approval from the bank.

 

Step 4: The enterprise can then proceed to deregister with its local AIC where its application will be processed within 10 workdays of receipt. If successful, the enterprise will be issued a “Notice of Deregistration” and all the registration certificates will be cancelled, as well as the chief representative’s working card.

 

Step 5: The enterprise should conduct deregistration in the Quality and Technical Supervision Bureau and Statistics Bureau in case the RO has not received its five-in-one business license.

 

Step 6: Notification of the RO’s deregistration should then be filed with the Public Security Bureau to cancel its chops.

 

Moreover, if the RO business license has expired before this date, the investor will need to pay a fine.

 

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