Registration Procedure for FIPE in Nanchang

Registration Procedure for FIPE in Nanchang

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Foreign Invested Partnership Enterprise refers to general partnerships and limited partnerships which may be established within China by individuals, legal persons and other organizations.A partnership in the People's Republic of China is a business entity governed by the Partnership Enterprise Law passed by order of the President of the People's Republic of China to authorize and govern partnership enterprises.A state-funded company, state-owned company, listed company, public welfare-oriented public institution or social organization may not become a general partner of a limited partnership.

Establishing an unlimited liability business entity without minimum requirements on registered capital is a new way for foreign investment in Nanchang, China.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.

Foreign investors are not allowed to directly submit the application documents of incorporate FIPE to the relevant authority in China. They must retain a PRC entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authority on behalf of the foreign investor.

What’s the FIPE Registration-Registration Procedures in Nanchang?

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

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