Shanghai Business Registration: Online Platform for Foreign Invested Enterprises Launched
Shanghai recently launched a new online platform to facilitate the business registration of foreign-invested enterprises (FIEs) in the city.
Launched on June 30, 2018, the platform makes it easier for foreign investors to report their business information to the Administration of Industry and Commerce (AIC) if their projects do not qualify under special administrative measures for foreign investment.
If the AIC approves the registration, the information will automatically be transferred to other relevant departments, including the Ministry of Commerce (MOFCOM), to complete relevant filing procedures.
In the event an FIE’s business registration information needs changing, the filing information should be updated in MOFCOM’s Foreign Investment Integrated Management Application System.
To be noted, the entire business registration process cannot be completed online. Applicants still need to provide certain paper documents in-person, such as the original copies of relevant certificates.
In addition to business registration, the one-stop system also covers chop carving filings, tax relevant issues such as fapiao applications, reservations to open bank accounts, and some social insurance registration matters.
The new online platform can be accessed here.
The online business registration platform is Shanghai’s response to China’s national “One Window, One Form” reform.
Following a decision made by the State Council on May 16, 2018, regional governments were required to establish a “one stop shop” by June 30, 2018 where FIEs could submit a single form to a single office to complete business registration.
Previously, FIEs in many regions had to visit various government offices and oftentimes fill out multiple forms containing redundant information to register their businesses.
The “One Window, One Form” policy is part of China’s wider business reform agenda, which seeks to improve the country’s business environment and streamline bureaucratic red tape.
Other reforms include a massive overhaul of government institutions to reduce bureaucratic overlap, as well as smaller reforms like eliminating approvals for tax incentives.
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