Q&A on Foreign Exchange Policies and Foreign Direct Investment
01
Q: In accordance with the Law of the People's Republic of China on Foreign Investment and the Rules for the Implementation of the Law of the People's Republic of China on Foreign Investment,government commercial departments will no longer issue the Certificate of Approval for Foreign-invested Enterprises (FIEs) or the Acknowledgement of Filing. What materials are required now for foreign exchange registration?
A: When making a foreign exchange registration,enterprises need to provide their bank with the company's business license,the notice of approval (except for certain cases where regulations specifically state the notice is not required),and the Application for Registration of Basic Information on Domestic Direct Investment. Unless otherwise stipulated,there is no need to submit a foreign direct investment (FDI) approval or filing documents issued by a commercial department.
Banks may refer to the Enterprise Credit Information Publicity System and the articles of association/partnership agreement submitted by the enterprise for verification,if the relevant information from the market regulators fails to meet the information requirement for foreign exchange registration.