The Foreign Investment Law took effect January 1st. According to the authorities, to start a foreign-invested enterprise, investors do not need to go through approval procedures or place a file on record with the commercial departments.
The Foreign Investment Law will bring two major changes to foreign investors in Guangdong, as reported by the Yangcheng Evening News. The new law stipulates a "national treatment plus a negative list before entry" system, meaning foreign investors will enjoy more convenience when starting up a business in Guangdong.
At the same time, in addition to registration application documents, it is also necessary to fill in the foreign investment information report. Foreign investors or foreign-funded enterprises shall submit investment information to the relevant commerce department through both the enterprise registration system and the enterprise credit information publicity system.
Statistics shows that by the end of November 2019, Guangdong had 178,500 foreign-invested enterprises, accounting for about a quarter of the country's total, ranking first in the country.
Procedures to start a foreign invested enterprise
To start a foreign invested enterprise, the applicant should log in to the site ‘One Window Acceptance System Of Guangdong Province" (http://qykb.gdzwfw.gov.cn/qcdzhdj/, in Chinese) to apply for registration of establishing a foreign-funded enterprise.
The applicant shall complete registration information and the initial report at the "Start up enterprise" module. During the registration process, the investor shall guarantee it meets the requirements of Special Management Measures for Foreign Investment Access (Negative List), clarify the industry category and code, and check the special management based on the actual situation.
Notably, the procedures for the establishment of foreign-invested enterprises in Guangzhou, Shenzhen and Zhuhai shall be formulated respectively by local governments. Please pay attention to the policies issued by local market regulatory authorities.
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