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The Practical Operation of Increasing Registered Capital by Exclusively Foreign-owned Enterprises
The process for an exclusively foreign-owned enterprise increasing its registered capital seems various and many. Actually, it only needs to do as following three steps. Firstly, prepare application materials. Secondly, apply to the Commerce Commission approving to establish the enterprise, submit application materials, await the approval and acquire corresponding approval documents. Thirdly, take approval documents and application materials to handle commerce register in corresponding Commerce and Industry Bureau.
The involved rules and regulations of handling the formalities for increasing registered capital are: 1. Company Law of the People's Republic of China; 2. Regulations of the People’s Republic of China on Administration of Registration of Companies; 3. Rules for the Implementation of the Law of the People’s Republic of China on Foreign-funded Enterprises; 4. Notice on Relevant Provisions and Procedures of Adjustment of the Total Investment and the Registered Capital in Foreign-funded Enterprises; 5. Provisions for the Alteration of Investors' Equities in Foreign-funded Enterprises; 6. Provisional Regulations for the Proportion of Registered Capital to Total Amount of Investment of Joint Ventures Using Chinese and Foreign Investment. The above regulations directly or indirectly make specific provisions on the formalities and problems that claim attention for an exclusively foreign-owned enterprise increasing its registered capital.
In accordance with aforementioned rules and regulations, taking an exclusively foreign-owned enterprise increasing its registered capital in Beijing for instance, the practical operation is as follows:
1. Prepare following application materials fully: an application, a letter of authorization on administrative permission (both templates of above documents can be downloaded from Beijing Municipal Commission of Commerce), a copy of Approval Certificate of the enterprise, a copy of Business License, an application of the alteration of investors’ equities, the original contracts, articles of association and amendment of agreement, the resolution of board of directors of the enterprise on the alteration of investors’ equities, the name list of the board members after the alteration of enterprise investors’ equities and the Stock Equity Alteration Agreement signed by enterprise investors.
2. Submit aforementioned materials to administration office of foreign investment in Beijing Municipal Commission of Commerce, then await the examine and verify of administration office of foreign investment. It will take 90 days from the day of examining and verifying to acquiring the approval documents.
3. Take aforementioned application materials and approval documents to Beijing Municipal Commerce and Industry Bureau for registration. The procedure of capital injection is thus brought to a close.
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