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In this issue, we look at the following topic. To read the full document, please download the pdf file below.
Liaison Office: The Way Forward
Since the amended PRC Company Law started to take effect from 1 January 2006, various local bureaus of the State Administration for Industry and Commerce ("SAIC") have ceased to process registration of liaison offices ("LOs") of foreign investment enterprises ("FIEs"). This has caused a lot of concern and controversy among FIEs because of the impact on their PRC business model and expansion plan. After a long wait, SAIC finally promulgated two circulars which address the latest policies governing LOs.
The two circulars concerned are:
- The "Implementation Opinion on Various Issues Concerning Company Approval and Registration Administrative Laws Applicable to Foreign Invested Companies" (Gong Shang Wai Qi Zi [2006] No. 81) jointly promulgated by SAIC, the Ministry of Commerce, the General Administration of Customs and the State Administration of Foreign Exchange on 24 April 2006; and
- The "Notice on Enforcing the 'Implementation Opinion on Various Issues Concerning Company Approval and Registration Administrative Laws Applicable to Foreign Invested Companies'" (Gong Shang Wai Qi Zi [2006] No. 102) issued on 26 May 2006.
Get Your Copy Here
Read more by downloading our China Tax/Business Quarterly Update, 2006 Second Quarter (pdf file, 244KB) for your reference.
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