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On March 10 2017, the State Administration for Industry and Commerce announced that China will digitize the registration and licensing process of new companies. This new procedure will help new enterprises start their business more quickly. Additionally, deregistration will be simplified, too. If everything goes according to plan, the process and platform will be set up by the end of this year.

 

Furthermore, the issuance of several licenses for one business will be combined, and by 1 October 2017, only one license will be given out to new companies.

 

After the launch of the so-called, 3-to-1 reform in October 2015, companies could apply for a single business license that integrates licenses from Administration of Industry and Commerce (AIC), the Administration of Quality and Technology, and the Tax Bureau. Previously, applicants even had to file a similar set of documents to each authority, which was a lengthy and costly process. After the reform, approximately 13 documents have to be submitted only to the AIC and after five days and a single fee payment the business license is issued.

 

The new system will also allow for faster deregistrations. Companies, which have received their license, but haven’t started a business yet, those without creditor’s right or with heavy debt can now be expected to undergo a fastened closing process.

 

ECOVIS Beijing Observations

 

Overall this can be seen as beneficial for businesses that want to expand in the Chinese market, as it simplifies registration procedures. Judging from past experiences, the platform will likely be first test in several big cities and eastern provinces before being implemented nationwide, undergoing further changes and improvements in the process. Firms which want to register a company in China should therefore consult with their legal consultants to see when and how this platform will be launched and what the specific requirements are.

 

Richard 1grau  
Richard Hoffmann
 
Richard Hoffmann is a partner at ECOVIS Beijing China. Richard obtained an honors degree in law and worked in Germany, the United States, and China for various prestigious law firms prior to joining ECOVIS. In addition to being a member of the board of ECOVIS International, he is Supervisor for the China business of a respected German company and shares his extensive knowledge to students by teaching commercial law in China at SRH Hochschule Heidelberg. He has published more than fifty articles in international magazines, frequently speaks at high profile events in China and abroad and is often invited as a legal expert by international TV stations. Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
Ecovis Beijing is the trusted tax and legal advisor to several embassies and official institutions in China. It specializes in mid-sized international companies and is focused on tax & legal advisory, accounting and auditing. If you’re interested in finding out more about tax and legal, don’t hesitate to sign up to our Newsletter, give us a call +86 (10) 6561 6609 or contact us directly via This email address is being protected from spambots. You need JavaScript enabled to view it. ';document.getElementById('cloakafc164caa6a9c8deed367c3c0abb7a39').innerHTML += ''+addy_textafc164caa6a9c8deed367c3c0abb7a39+'<\/a>';
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