The
new licenses will be held by any company founded on or after 1 March
2014, or which has renewed its business license since that time. All companies in China are required to switch over to a new license before 28 February 2015. In the meantime, however, a dual system is in place where
both old and new licenses are in circulation.
The
redesigned business licenses are in portrait orientation (rather than
landscape, as previously) and contain an embedded QR code linked to the
company listing in the National Enterprise Credit Registry. Most
importantly, however, paid-in capital has been removed from the new
licenses—this refers to the percentage of registered capital that a
company has actually contributed to its operations in China. The reason
why the paid-in capital has been removed is the government protects the
information of the company. Certainly, it can still be accessed through
local AIC records.
Two
other minor changes consist of permitting multiple entities to list the
same registered address on their respective business licenses, and
switching over from a system of multiple types of licenses for different
types of commercial entities to a standardized license including a
“Type” criterion.
Touch Law Firm is dedicated to provide you Foreign-funded Enterprises Registrataion, Representative Office Registration, Company Change & Official Approval, and Tax & Accounting service. For further information, please follow our online secretary Ms. Touch (ID: touch-law-firm), call at +8620-8355 5515 or email to info@touchlawfirm.com
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