The Administrative Regulations for the Registration of Foreign-invested Partnership Enterprises, the Administrative Measures for the Registration of Sole Proprietorship Enterprises; and the Administrative Measures for the Registration of Individual Businesses
The Decision was published with the Provisions referred to above, both of them related to the Company Law Amendment.
The Decision revises four AIC regulations, establishing the following changes:
- The minimum registered capital requirement for manufacturing companies (RMB 300,000), commercial retail companies (RMB 500,000) and commercial wholesale companies (RMB 300,000) and consulting companies (RMB 100,000) have been removed.
- According to the Company Law Amendment, the company annual check system has been replaced with a public system of company annual report. As a result, the Decision provides that companies are only required to report the company files on a public online platform.
- The Decision removes the documentation requirements for lease agreements and
property ownership certificates. Furthermore, it is no longer compulsory that the
lease term of the domicile exceeds one year;
- The Decision encourages companies to obtain electronic business licenses by
granting them the same legal effect as paper business licenses.
- The AIC’s assessment of the company’s operating capacity has been lifted,
ensuring greater autonomy to companies.
Date of issue: February 20, 2014. Date of effectiveness: March 1, 2014.