24 novembre 2015
Client Alert | China | Corporate Law
On 28 October 2015, the PRC Ministry of Commerce (“MOFCOM”) issued new rules that remove significant obligations related to companies’ registered capital and annual inspections.
The Decision on Revising Certain Rules and Regulatory Documents follows the State Council’s plan, published in early 2014, to reform company registration and the capital registration system. The objective of the State Council’s Plan (which applies to both domestic and foreign-invested enterprises, “FIEs”) is to (i) replace the “paid-in capital” registration system with a “subscribed capital” registration system and (ii) replace the annual inspection procedure with an annual online reporting procedure.
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