China Streamlines Business Registration Procedures
15 May 2018
The required procedures for registering a new business in China have been further streamlined following a directive issued by the State Council on 2 May this year.
Three measures, in particular, are seen as likely to make life simpler for would-be mainland entrepreneurs:
- The whole business registration process can now be conducted online, with government pre-approval of company names no longer required (except in special circumstances)
- In the case of the company seal, the required record-filing will be integrated into the overall certification process. Business owners are also free to source their seals from a provider of their own choice
- Any enterprise that has secured a business licence with a unified social credit code will not be required to complete a separate tax registration or to apply for a social insurance registration certificate. The required processing time for invoice applications and social insurance registrations is also to be reduced.
For further details (in Chinese), please visit the following link: