Useful Tips of Annual Check for Foreign Enterprises in China

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In China, the annual check of foreign enterprises is a must work for foreign enterprises. What are the tips for annual check?
Commercial activities in foreign countries are specially in need of knowing all requirements regulated by local departments. In China, the annual check of foreign enterprises is a must work for foreign enterprises. What are the tips for annual check?
 
Procedure of Annual Check
1.    Each year, from March 1st to June 30th, enterprises that have registered in last year are required to receive annual check.
2.    Enterprises are required to hand in annual check report, yearly work summary, balance sheet, income statement, audit report and asset examination report(if it has not been handed before), original and duplicated copy of business license, prior to March 15th.
3.    Enterprises should go to the Urban Industrial and Commercial Executive Management Bureau for annual check procedure at the place where enterprises locate.
 
Process of Annual Check Registration at Foreign-Capital Enterprise Branch Agency
1.    The branch office will take the yearly inspection table at Foreign-Capital Office of Industrial and Commercial Bureau from April 1st to 30th each year.
2.     Materials for report and submitting
Extension Registration Application (the company’s seal, the director’s signature)
The yearly work summary of the branch office (sealed with the official seal of the branch office)
Copy of business license of yearly inspection approval of the company (sealed with the seal of the local Industrial and Commercial Bureau)
Tenancy Agreement of the venue and house of the branch office (the term of validity should last to May 31rd of the next year)
The yearly accounting statement of the branch office
The original and duplicated copy of registration certificate of the branch office
Yearly inspection table
 
Notice
1.    If the branch office does not hand in the annual check materials with reasonable explanation before May 15th, it should be punished with one thousand RMB or less; if it does not apply for annual check at the deadline, it should be punished with 30 thousand RMB or less; if the company does not participate in the annual check, it is not allowed to operate business, and the urban industrial and commercial bureau will punish it according to law and regulation until the business license of the company is cancelled.
2.    If there is a change in the original registration projects, relating materials should also be handed in at the annual check time.
3.    If the company does not participate in the y annual check, it is not allowed to continue its business. From the day when the company is published, within 30 days, if the company still does not apply for annual check, its business license is cancelled.
4.    If the company does not pay fees within regulated time, the chief registration agency should notice it for the fees, and if the company still does not pay it beyond the time, its business license will be cancelled.
 

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