Foreign Invested Enterprise in Bonded Areas
2013-July-9 Source: Newsgd.com
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Foreign investors are gaining interest at setting up company in bonded area, as the bonded area offers advantages for storage, processing and intermediary trade. Since the first bonded area was approved by State Counsel in 1990, another 14 bonded areas have been established, such as in Shanghai, Shenzhen, Guangzhou, Haikou, Xiamen and Qingdao.

According to the Measures of Customs Supervision over Bonded Area and the regulations on foreign investment, foreign investor may set up a company or a non-business branch in bonded area (in practice, company is usually approved). The setup requirement and procedures in bonded area are almost the same as the company set up outside bonded area. The Law on Sino-Foreign Equity Joint Ventures, the Law on Sino-Foreign Cooperation Joint Venture, the Law of Foreign Invested Enterprise, the Catalogue for the Guidance of Foreign Investment Industries and other laws are applicable for the foreign company in bonded area.

(This information is provided by Lawyer Kelly Xie from Guangdong KaiTong Law Firm in friendship. It is not any legal opinion or legal grounds addressed to any organization or individual. For inquiry, please contact Kelly via email at Kelly_xie@ktlf.com.cn or by phone on 13926185641.)

Editor: Olivia
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