The requirements for foreign-invested enterprises’ annual inspection

Release date:2010-07-05  Font Size:[Big Medium Small]

  On the basis of the Regulations on the Administration of Company Registration and Enterprises’ Annual Inspection Means, every foreign-invested enterprise (including branch offices and business departments, etc.) shall make full preparation for the annual inspection by administrative departments for industry and commerce.
  I Work time for annual inspection:
  The period between January 1st and April 30th is the work time of the annual inspection for foreign-invested enterprises. Every enterprise shall submit relevant materials to the Department of Handling Foreign Capital of Changde Administration Bureau for Industry & Commerce before March 15th each year.
  II Procedures for annual inspection:
  1. Each enterprise shall apply for and get the annual inspection form from the Department of Handling Foreign Capital and submit the annual inspection report and other relevant materials;
  2. Registration authorities shall examine the annual inspection materials;
  3. Each enterprise shall pay the annual inspection fees;
  4. Registration authorities shall attach annual inspection labels and have annual inspection seals stamped on every enterprise’s business license;
  5. Registration authorities shall send each enterprise’s business license back.
  III Documents to check for annual inspection of the enterprise:
  1. Annual inspection report;
  2. Counterparts of the enterprise’s business license;
  3. Enterprise Legal Person’s annual balance sheet and profit-and-loss statement;
  4. Annual audit report audited by the audit firm (Auditing for annual accounting reports may be handled by the Changde Audit Firm. Tel: 0736-7228428);
  5. Other materials needed (For unincorporated institutions such as branch offices, besides the documents mentioned in Article 1 & 2, a copy of the business license owned by the head office’s Legal Person shall also be submitted with seals stamp by the registration authorities.)
  IV Requirements for newly registered enterprise:
  1. Every newly registered enterprise, regardless of its financial accounting, shall submit its capital verification report;
  2. Every enterprise with an incomplete total amount of investment and registered capital shall submit its capital verification report.
  V Primary items for annual inspection:
  1. Whether the name the enterprise uses is consistent with the authorised enterprise name;
  2. Whether the locus of the enterprise’s main office is consistent with that approved by the registration authorities;
  3. Whether the enterprise has modified its registration as required after the resolution or decision for alternation has been made by the enterprise’s Legal Person;
  4. Whether the enterprise’s paid-up capital is in accordance with its registered capital;
  5. Whether investors other than the Legal Person have paid up their capital contributions as required;
  6. Whether the foreign-invested enterprise has made full payment of its investment contributions;
  7. Whether some other originators, shareholders and investors have ever withdrawn their capital after the establishment of the Legal Person;
  8. Whether the enterprise has made alternation registration as required after the enterprise’s type or economic nature has changed;
  9. Whether the enterprise’s specific economic activities are consistent with the business scope authorised;
  10. Whether the business operation term or operating period for the business license has expired;
  11. Whether the shareholders of the limited liability company or the originators of joint stock (limited) company have changed;
  12. Whether the enterprise has counterfeited, altered, leased, lent or transferred its business license to others;
  13. Whether the enterprise has not opened business for more than six months or has terminated business without permission for more than six consecutive months;
  14. Situation of assets and liabilities:
  1)Enterprises’ paid-up capital doesn’t come up to the minimum amount prescribed by laws and administrative regulations;
  2) Although enterprises’ paid-up capital comes up to the minimum amount prescribed by laws and administrative regulations, there exist wide disparities between the paid-up capital and registered capital;
  3) Whether the enterprise has engaged in other serious illegal acts or violations.
  Before the deadline of the annual inspection, any enterprise that has not applied for inspection due to their own fault shall be punished in accordance with Article 30, Article 219, Article 68, Article 58, Article 59 and Article 60 of the Regulations on the Administration of Company Registration and the 61st Decree of the State Bureau for Industrial and Commercial Administration. Enterprises without any Legal Person identification will be punished in accordance with the articles mentioned above.

 

 

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