Company News
Latest News
India Proposes to Amend the Term ‘Foreign Company’
The Ministry of Corporate Affairs informed the Upper House that, under the Companies Act (1956), there is no precise provision for compulsory registration of foreign companies engaged in online business practices.
Rules of Overseas Chartered Accountant Firms
India’s Ministry of Corporate Affairs informed the Upper House today that Indian chartered accountant (CA) firms are regulated by the Institute of Chartered Accountants of India (ICAI) in terms of provisions of the Chartered Accountants Act (1949) and the rules and regulations framed thereunder.
Reporting Activities of Liaison Offices in India
Overseas companies, organizations or an association of individuals are not required to file income returns with regards to liaison offices (LOs) on the grounds that such business is not permitted to be carried out in India.
2012 Annual Compliance Reports for Shenzhen Representative Offices
According to the new “Regulations on the Registration and Administration of Representative Offices of Foreign-Invested Enterprises(guowuyuanlingNo.584)” (Regulations), representative offices (ROs) of FIEs registered and established before December 31, 2011 are required to submit the annual compliance report to the local registrars before June 30, 2012.
Beijing Releases 2011 Average Income and 2012 Social Insurance Wage Base
The Beijing Social Security Fund Management Center released the “Notice from Beijing Human Resources and Social Security Bureau and the Beijing Statistics Bureau on the 2011 Beijing Average Income” on April 11, specifying the new wage base for calculating social security contributions for the year 2012.
Guangdong Streamlines the Registration Process for Foreign-Funded Companies
According to the Department of Foreign Trade and Economic Cooperation of Guangdong Province and Guangdong Province Administration of Industry and Commerce (Guangdong AIC), a new streamlined registration and approval process for foreign-funded companies will be run across nine cities along the Pearl River Delta.
SAFE Registration Procedures and Compliance Requirements in China
On February 15, 2012, the State Administration of Foreign Exchange (SAFE) issued the “Circular Regarding Issues Relating to Foreign Exchange Administration of Domestic Individuals’ Participation in Equity Incentive Plan of Overseas Listed Companies (huifa[2012] No.7)” (Circular 7) providing that foreigners working in China are subject to SAFE registration if they participate in any form of equity incentive plan with an overseas-listed company.
Foreigners in China Now Subject to SAFE Registration for Equity Incentive Plans
China’s State Administration of Foreign Exchange (SAFE) replaced the “Circular Regarding Procedural Requirements for Chinese Nationals to Participate in Employers’ Overseas Equity Incentive Plans (huizongfa [2007] No.78)” (“Circular 78”) with the new “Circular Regarding Issues Relating to Foreign Exchange Administration of Domestic Individuals’ Participation in Equity Incentive Plan of Overseas Listed Companies (huifa[2012] No.7)” (“Circular 7”) in February 2012.
China Revises Categorization of Imported Goods and Tariff Rates
China’s General Administration of Customs (GAC) issued the newly-revised “Table of Categorization for the Imported Articles of the PRC” (“Table of Categorization”) on Wednesday, March 28.
China’s Court Releases Second Draft Interpretation of Insurance Law
On March 22, the Highest People’s Court released the “Interpretation II on Several Issues Concerning the Application of the Insurance Law (Draft for Comments)” (“Draft Interpretation”), which provides clarifications to the latest version of China’s Insurance Law promulgated in October 1, 2009.
To learn more about how we can support you, contact one of our local experts.
We provide professional services tailored to Asia´s business environment across the full business cycle.
Talk to experts