Amendment to Administrative Regulations on Foreign-Invested Insurance Company
2013-July-26 Source: Newsgd.com
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Prime Minister Li Keqiang signed the Decree of National Congress No. 636 on June 8, 2013 and passed the amended Regulations on Foreign-Invested Insurance Company (“Amendment”) effective from August 1, 2013.

In the Amendment, Paragraph 1 of Article 7 was revised “The registered capital of a Sino-foreign joint venture insurance company or a wholly-owned insurance company shall be no less than RMB200 million or the equivalent amount in freely exchangeable currency. The minimum registered capital shall be fully paid up.” And Paragraph 2 of Article 7 is also revised “The head office of a foreign invested insurance company shall provide its branch offices with a total of no less than RMB 200 million or the equivalent amount in freely exchangeable currency as operating funds.”

(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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