The minimum requirements of a JV in Beijing, China are as follows:
The name of company to be registered in Beijing must follow the format “Business Name + (Beijing) + Principal Business Activity + Limited” or “Business Name + Principal Business Activity + (Beijing) + Limited”.
If the foreign shareholder of the Beijing JV is another company, please provide the particulars of that company, including the principal business activities, business address, contact numbers and name and nationality of its managing director.
One set of legalised identity documents of the foreign shareholder/members of the proposed JV.
If the foreign shareholder is a corporation, the identity documents required to be legalised are its incorporation documents.
In the case the foreign shareholder is natural person(s), the identity document required to be legalised is his/her passport (for foreigner) or mainland travel permit (for Hong Kong, Macau and Taiwan resident).
The materials required for registration of a JV in Beijing mainly include legalised identity documents of the HK company, incorporation documents of the China domestic company.
Please provide an information and documents in order to prove the structure of shareholders and particulars of the ultimate beneficiary owner in order for us to prepare the organisation chart of the Beijing JV.
A photocopy of the identification document (i.e. passport for foreigner or identity card for Chinese national) and full residential address of the legal representative.
A photocopy of the identification document (i.e. passport for foreigner or national identity card for Chinese national) and a full residential address of the supervisor and the general manager.
A photocopy of the identification document (i.e. passport for foreigner or identity card for Chinese national) and full residential address in respect of each director.
The total amount of investment of the JV, including:
A tenancy/lease agreement of the office premise to be used by the proposed JV.
A summary of the scope of business and the scale of business of the proposed JV, including its business model, locations of suppliers and customers, etc.
Please provide the name of preferred bank and the designated branch at which the bank accounts of the Beijing JV are to be established.
Firstly, the investor will have to enter into a tenancy agreement in relation to the office space to be used by the JV for a term of not less than 12 months. The office must locate in a commercial building.
The foreign investor is also required to arrange to have the identity documents of the foreign shareholder legalized by the Chinese Embassy or Consulate in the country where the foreign shareholder is registered/resided.
The investor at the same time needs to prepare other documents, such as photocopies of the passport / identity card / mainland travel permit of the director, supervisor, legal representative and (general) manager.
The registration process of a JV starts with name availability search with the Beijing Administration for Market Regulation (BAMR). If the search indicates that the preferred company name is available for registration, then the application for the reservation of the preferred name is filled with the BAMR.
Upon receipt of the approval for reservation of the preferred name of the JV, the application for Business Licence for the JV is filled with the BAMR. The BAMR will usually issue Business Licence within 5 working days after receiving all the required documentation.
Once the business license is issued, the JV is deemed to be a legal person duly organised and existing under PRC law and will have full operational rights to operate its business in China within the scope of its Business Licence[1].
Application for Approval for making of Office Stamp (Office Seal) from the Public Security Bureau and arrange the carving the company seal and chops.
Application for registration with the Administration Bureau for Foreign Exchange.
Opening one capital account and one RMB basic account with a bank in Beijing, China.
The whole process for the registration of a JV in Beijing, China takes 6 to 8 weeks. It should however be noted that most of the procedures are subject to approval by the government departments and therefore some of the procedures may take longer than expected.
If the business activity to be conducted by the JV requires special licence or permit, we may need to adjust the fees, disbursement and the time required may need to be extended accordingly.
Incorporation of JV, including:
[1] A detailed analysis of the Joint Venture’s activity is required in order to find out whether any other special licences are needed to carry out the activity in/from the territory of China.
[2] The fees are valid as of the date of sending of the offer.
[3] Not including the cost of services related to preparation of documents for shareholders, directors and other persons in the company’s structure. Ordering of documents, legalization, translation to Chinese should be paid for separately. The cost of preparation of a set of documents will be formed upon request after approval of the final structure of the JV.
[4] If a non-standard Articles of Association is required, preparation of amendments should be paid for separately and will be made on the basis of approved terms of reference.
[5] The fees do not include the services for obtaining of any special licence or permit.