China corporate formation (FIPE) is one kind of business incorporation in China. FIPE is an unlimited liability business entity set up by more than 2 (including 2) foreign enterprises or individuals; or by foreign enterprises or individuals and Chinese individual, legal person and other organizations within the territory of China. A partnership in China is a business entity governed by the Partnership Enterprise Law passed by order of the President of the People's Republic of China to authorize and govern partnership enterprises.
I. Requirements on FIPE Formation in China
A partnership enterprise must meet the following requirements:
1. at lease 2 or more partners ( no requirements on the nationality of a Partner);
2. a written partnership agreement;
3. capital contribution subscribed to or actually paid by the partners;
4. a business name and an office in an office building for the partnership enterprise.
II. Documents Required for FIPE Formation in China
1. Application Form for Foreign Invested Partnership Enterprise Registration signed by all partners;
2. Partnership Agreement signed by all partners;
3. Power of Attorney of the designated representative or entrusted agent;
4. Corporate investor as partner: certificate of Incorporation, or articles of formation or equivalent document certified by Chinese embassy or Chinese consulate overseas; Individual investor as partner: passport copy be certified by Chinese embassy or consulate;
5. Residential address proof (e.g. utility bill issued within 3 months, valid driving licenses with address, national identity card with address, etc.) be certified by Chinese embassy or consulate;
6. Bank Reference letter be certified by Chinese embassy or consulate;
Passport copy: (i) Parent company's director (ii) China Partner Enterprise's general partner and (iii) China general partner and partners provides: photos and resume; registered capital; business scope; company name;
7. Office address in China.
III. Approval and Registration of FIPE in China
To establish a general FIPE, it is not required to obtain approval of the commerce department. To establish a foreign-related enterprise, however, approval of the commerce department (and that of the relevant department if prior approval is required for the project under the law) shall be obtained before registration with the competent industry and commerce department.
In accordance with the relevant regulations, establishing a general FIPE does not require the approval of the commerce department; the FIPE is only required to apply for registration to the competent industry and commerce department. Nevertheless, if under any law, administrative rule or State Council provision approval is required for the establishment of FIPE, the relevant approval documents shall also be obtained.
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