Going back to basics — the establishment of a foreign-invested enterprise in mainland China

Establishing a foreign-invested enterprise (FIE) requires prior approval from the Ministry of Commerce (MOFCOM) and its local branches and registration with the Administration of Industry and Commerce (AIC). This is before meeting any licensing requirements for foreign direct investment (FDI) in special industries. Once the initial business licence has been obtained, an FIE also has to register with various other authorities including tax, customs, foreign exchange, finance, statistics and organisational code. Preparation for all of this is time consuming and the whole process usually takes two to three months, but sometimes longer. This has frustrated many foreign investors.

Since 1 March 2013, Shenzhen and Zhuhai in Guangdong Province have started a pilot reform scheme on the AIC registration system, easing the situation for reluctant investors. On 10 March 2013, the General Office of the State Council issued the Circular on the Division of Responsibilities for Implementing the Plan on Reform of the State Council Organs and Changes to the Functions thereof (State Council Scheme), stressing implementing measures on administration reform, including a special section on nationwide reform of the AIC registration mechanism. The State Council Scheme requires that the State Administration for Industry and Commerce (SAIC) formulate detailed rules by the end of June 2013…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • merger deal

    Corporate crunch time: who will triumph at The Lawyer Awards 2014?

    As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014. 

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

View more analysis from The Lawyer

Overview

5 New Street Square
London
EC4A 3TW
UK
http://www.taylorwessing.com

Turnover (£m): 241.20
No. of lawyers: 860 (UK 200)
Jurisdiction: UK
No. of offices: 4
No. of qualified lawyers: 67 (International 50)

Jobs