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Results: 1-10 of 386

Operating procedures clarifying equity finance and return investments by domestic residents through offshore special purpose vehicles
  • Hogan Lovells
  • China
  • July 11 2007

On May 29, 2007, the General Affairs Department of the State Administration of Foreign Exchange (SAFE) published an operating procedure for the Circular on Foreign Exchange Issues Related to Equity Finance and Return Investments by Domestic Residents through Offshore Special Purpose Vehicles (“Hui Zong Fa 2007 No. 106”) which effectively stopped the implementation of Schedules 6 and 7 of Hui Zong Fa 2005 No. 124 and clarified the relevant issues in the implementation and application of Circular No. 75


New PRC tax treatment for disposal of offshore intermediate holding companies
  • Squire Patton Boggs
  • China
  • January 12 2009

Offshore holding companies have been widely used by investors from outside the PRC to structure their investments in China, especially if the investor intends to dispose of its China interests in the near future


Offshore equity transactions: implications of recent changes to corporate tax law in China
  • Ogier
  • China
  • April 9 2010

The Chinese State Administration of Taxation (“SAT”) issued Circular 2009 No. 698 (“Circular 698”) on 10 December 2009


New regulation of China Tax Bureau on collection of taxes due to offshore equity interest transfers by non-resident enterprises
  • Dorsey & Whitney LLP
  • China
  • February 12 2010

In 2009, income taxes collected from non-resident enterprises (defined in the Enterprise Income Tax Law of China as “an enterprise incorporated in a foreign country or region with its actual management organization located outside China”) reached Renminbi 41.611 billion, a 55 increase in comparison with 2008


Ministry of Finance announces increased scrutiny of offshore indirect transfers
  • Winston & Strawn LLP
  • China
  • March 12 2010

On December 10, 2009, the Chinese Ministry of Finance ("MOF") Tax Policy Department announced a new international tax enforcement initiative targeting offshore indirect transfers of Chinese equity interests


Safe Circular 19 provides new operating instructions on foreign exchange administration for round-trip investment in China
  • Morgan Lewis & Bockius LLP
  • China, USA
  • July 18 2011

On May 20, China's State Administration of Foreign Exchange issued the "Operating Instructions on Foreign Exchange Administration for Domestic Residents Engaging in Financing and Round-tripping Investment via Overseas Special Purpose Vehicles" (Circular 19), which came into effect on July 1


Cross-border Renminbi financing how are funds raised offshore remitted into China?
  • Clifford Chance LLP
  • China
  • July 18 2011

Accelerated by the increasing use of Renminbi (RMB) in the settlement of cross-border trade, offshore RMB markets, in particular Hong Kong, have developed speedily


New SAFE Rule Circular 19 reigniting round-trip investment in PRC
  • Morrison & Foerster LLP
  • China
  • June 14 2011

On May 27, 2011, the State Administration of Foreign Exchange of PRC (“SAFE”) issued Operating Instructions on Foreign Exchange Administration for Domestic Residents Engaging in Financing and Round-tripping Investment via Overseas Special Purpose Vehicles (“Circular 19”), which goes into effect on July 1, 2011


Circular on ratifying balance quotas for granting security or guarantee by domestic banks in favour of offshore entities
  • White & Case LLP
  • China
  • September 21 2011

On August 16, 2011, the State Administration of Foreign Exchange of the People’s Republic of China (“SAFE”) issued the Circular on Relevant Issues Concerning the Ratification of the Quotas Balance for Granting Foreign Security by Domestic Banks in 2011 (the “ Circular”


Using offshore RMB funds to invest in real estate and other assets in China: further legal rules announced
  • Baker & McKenzie
  • China
  • October 19 2011

On 12 October 2011, the PRC Ministry of Commerce announced further detailed rules for foreign investors to use their offshore RMB funds to invest in real estate and certain other types of projects in China