September 1, 2013 will bring some much welcome changes to visa processing in China. After September 1, the processing time for visas should take no more than 15 days, according to the Ministry of Public Security. The same 15 day time limit will also apply for changes, extensions, and replacement of residence visas. Further, a …
China Visa Processing Changes Take Effect on September 1, 2013 Read More »
Chinese Visa Rules Revision Review Some major changes to China’s visa rules took effect on July 12 of this year. Many of you may have heard about this and are now uncertain about what the new rules are and how they apply. To date there has been much written about these changes but they can …
(continued) Impact of SAFE Circular 75 on VIE structure acquisition In 2006, China government promulgated SAFE Circular 75 which is intended to regulate the round-trip investment by PRC natural person or company. Under SAFE Circular 75, when a PRC founder intends to establish offshore company and then this offshore company set up a WFOE in …
GENERAL INTRODUCTION TO OFFSHORE ACQUISITION & VIE STRUCTURE(III) Read More »
( Continued ) Transaction documents required in an Offshore Acquisition An offshore acquisition should at least include the following document: 1) Series A Preferred Share Purchase Agreement (“SPA”); 2) Shareholders Agreement (“SHA”); 3) Amended and Restated Memorandum and Articles of Association (“Amended M& AA); 4) Restructuring documents (which normally includes service provider agreement, intellectual property …
GENERAL INTRODUCTION TO OFFSHORE ACQUISITION & VIE STRUCTURE (II) Read More »
At present, China governments put more and more off-limits on acquisition of domestic enterprise by foreign investor. Such kind of acquisition should comply with not only regulations regarding merger & acquisition, but also the laws and regulation regarding anti-monopoly and economic security review. Clearly, the aforesaid complicate examination and approval procedure increase uncertainty of the …
General Introduction to Offshore Acquisition & VIE Structure (I) Read More »
Every day I walk along a very busy street in Beijing to and from my place of work. It takes me about 20 minutes each way. Usually I am walking during rush hour traffic time and I see many, many aggressively driven vehicles interacting and sometimes seemingly targeting countless numbers of pedestrians as they do …
As we all know, PRC government allows a foreign investor to make capital contribution to the registered capital of a foreign invested enterprise (“FIE”) by installment. However, there are discrepancy existing in rules regarding requirement on the amount of initial payment to the registered capital. The PRC Wholly Foreign Owned Enterprise Law Implementing Rules (revised …
How Much the Initial Payment for the Registered Capital of a FIE should be? Read More »
As China moves inexorably forward with its economic growth and modernization, Chinese law makers are attempting to keep pace with the ever changing need to transform the country’s legal system into one that can evolve and progress with Chinese society as a whole. Chinese law makers are seeking to make the Chinese legal system more …
Article 63 Paragraph 2 of PRC Employment Contract Law(“ECL”) give rise to the confusion of whether a company may return the dispatched employee to temp agency on the ground that the objective circumstances relied on at the time of the conclusion of the engagement contract(please note that is not employment contract) between the company and …
