Nanchang FIPE Registration
Hotline: 86-755-82143348 Email: anitayao@citilinkia.com
Foreign-invested partnership enterprise (FIPE) is an unlimited liability business entity at least one of whose partners is a foreign investor. Both foreign individuals and legal entities can be partners of a FIPE. The term partnership enterprise refers to general partnerships and limited partnerships.
Nanchang FIPE Registration – Registration Steps
FIPE can apply for business license directly to local State Administration for Industry and Commerce (SAIC) without application for Certificate of Approval by local Ministry Of Commerce. However, if a FIPE’s business scope falls into some special category, for instance, manufacturing, finance, it needs to obtain a pre-approval as well.
1. Name Registration with local State Administration for Industry and Commerce (SAIC)
2. Pre-approval from local government authorities concerned if business scope entails such pre-approval.
3. Apply for temporary Business License with local SAIC
4. Chops made by Public Security Bureau (PSB)
5. Organization Code License by local Bureau of Quality and Technical Supervision (BQTS)
6. Tax Certificate by Taxation Bureau
7. Registration and Approval with State Administration of Foreign Exchange (SAFE)
8. Open Foreign Currency and RMB bank account
9. Inject Capital from investor’s overseas bank account
10. Capital Verification Report by Certified Public Accountant (CPA)
11. Applying for Permanent Business License with SAIC
12. Financial certificate Registration with Ministry of Finance
13. Statistics license Registration with local National Bureau of Statistics
Nanchang FIPE Registration – Advantages of Nanchang FIPE Registration
The advantages of establishing a FIPE, compared with other types of enterprises, include, but not limited to:
1. No corporate income tax for partnership enterprise;
2. No requirements on minimum registered capital;
3. Less procedures comparing with Wholly Foreign Owned Enterprise or Joint Venture;
4. Capability of converting RMB profits to US dollars for remittance to its parent company outside of China;
5. Foreign Enterprise or Individual is allowed to establish a Partnership Enterprise with Chinese individual (While Chinese individual is not allowed to have Joint Venture with foreign investor);
6. The profit distribution of a PE could follow an informal negotiated agreement or abide by scheme adopted in the partnership agreement (While for LLC, profit distributions are according the percentage of investment of shareholders)
Nanchang FIPE Registration – Conditions of Nanchang FIPE Registration
A partnership enterprise must meet the following requirements:
1. At lease 2 or more partners
2. A written partnership agreement;
3. Capital contribution subscribed to or actually paid by the partners;
4. A business name and an office in an office building for the partnership enterprise;
Nanchang FIPE Registration – Documents Required
1. Corporate investor as partner: Certificate of Incorporation, or Articles of formation or equivalent document certified by Chinese embassy or Chinese consulate overseas For individual investor as partner: Passport copy be certified by Chinese embassy or consulate
2. Residential Address Proof (e.g. utility bill issued within 3 months, valid driving licenses with address, National Identity card with address, etc.) be certified by Chinese embassy or consulate
3. Bank Reference letter be certified by Chinese embassy or consulate (Managing partner only)
4. Passport copy of:
(i) Parent company's director
(ii) China Partner Enterprise's general partner and
(iii) China Partner Enterprise's partners
China general partner and partners provides: 6 photos (2 inches size), brief resume. Registered capital; Business Scope; 8 proposed Chinese names of China business Office address in China, leasing contracts, certificate of real estate ownership, and landlord identification.
Contact Us
For further queries, you are welcome to visit ATAHK website www.3737580.net or email to susiehu@citilinkia.com or contact any of the following branches, thank you.
HONGKONG TEL: 852-27837818 NANCHANG TEL: 86-791-88188098