Business-starting Investment Enterprises
BIZCHINA / Company laws
Provisions Concerning the Administration of Foreign-funded
Business-starting Investment Enterprises
Updated: 2006-04-17 10:37
Article41 Where an FBIE invests in any of the restricted enterprises, it
shall file an application to the provincial authorities of foreign trade
and economic cooperation where the restricted enterprise is located, and
it shall offer the following materials:
(1) its statement on having sufficient investment funds;
(2) its approval certificate and business license (copies);
(3) the contract and the articles of association of the invested
enterprise signed by the FBIE (and the other investors of the invested
enterprise).
Within 45 days as of the acceptance of the above-mentioned materials, the
provincial authorities of foreign trade and economic cooperation shall
make a written reply of approval or disapproval to the applicant, to whom
it shall issue a Certificate of Approval for Foreign-invested Enterprise.
The invested enterprise shall file an application to the registration
organ for registration upon the approving documents and the Certificate.
The registration organ shall decide whether to approve the registration
or not. It shall issue a Business License of Foreign Invested Corporate
Enterprise to the approved enterprises.
Article42 Where an FBIE invests into the projects in the area of service
trade that is open to the foreign investors gradually, it shall be
subject to the examination and approval in compliance with pertinent
regulations of the state.
Article43 To increase or transfer any of its investment into the invested
enterprise, an FIBE shall go through the procedures in accordance with
Articles 40, 41 and 42.
Article44 An FBIE shall report to the examination and approval organ for
archival purposes as of the completeness of the procedures of Articles 40
through 43.
Article45 Moreover, in March every year, an FBIE shall report the
information of fund collection and utilization in the previous year to
the examination and approval organ for archival purposes.
Within 5 days as of the acceptance of the archival materials, the
examination and approval organ shall issue a certification of archival
registration, which shall be one of the requisite materials for an FBIE
to accept annual joint examination. Where an enterprise that fails to
follow the above-mentioned procedures, it shall be subject to the
relevant punishment by the examination organ after discussing with the
pertinent department of the State Council.
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