Chinese Foreign Direct Investment Regime abolishes capital requirements
In order to implement the amended PRC Company Law as promulgated by the National People’s Congress on 28 December 2013, the State Council made a Decision on Abolishment or Amendment of Certain Regulations on 19 February 2014 and subsequently published on 28 February 2014. The State Council Decision, together with the Company Law Amendments, have been in effect since 1 March 2014.
According to the State Council Decision, the foreign-invested enterprises (FIEs) are covered in the company registration system reform as rolled out by the Company Law Amendments, which include, inter alia, (i) phasing out the paid-in registered capital system by launching the subscribed registered capital system and (ii) changing the annual inspection system into an annual reporting system…
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