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China Foreign Invested Enterprise Deregistration Procedures

Updated:2018-7-4 17:23:58    Source:www.tannet-group.comViews:168

China foreign invested enterprise deregistration shall be conducted in line with the relevant laws and regulations. Failing to carry out such legal process, the enterprise’s legal representative and shareholders will be blacklisted by the industrial and commercial bureau and may not be able to register a company in China by using his own name. Simultaneously, their personal poor credit record will be kept for 7 years, and face severe fines.

Legal basis of company deregistration
Dissolution and liquidation of foreign-invested enterprises should be in accordance with the company law and relevant provisions of the foreign investment laws and administrative regulations:
(1) Company Law;
(2) Implementing Rules for the Foreign-invested Enterprises Law;
(3) Implementing Rules for the Chinese-foreign Cooperative Enterprise Law;
(4) Implementation Regulations for Chinese-foreign Cooperative Enterprise Law;

General deregistration procedures
(1) Pass of the dissolution application by the approval authorities of China foreign-invested enterprises;
(2) The enterprise establishes the liquidation team and reports to the industry and commerce department;
(3) The liquidation team issues the liquidation report;
(4) The enterprise submits the liquidation report to the foreign-invested enterprises’ approval authorities to cancel the approval certificate;
(5) Cancel the certificate issued by the tax bureau and the customs department;
(6) Submit the deregistration application to industrial and commercial authorities;
(7) Submit the deregistration application to the bank, foreign exchange bureaus.

Basic documents required
Prior to the commencement of dissolution and liquidation procedures of a foreign-capital enterprise, it shall request approval from the original examination and approval authority of the enterprise and provide the listed file as below:

(1) Application form;
(2) Resolution of the board of shareholders or the board of directors;
(3) Business license;
(4) Approval certificate.

The enterprise shall establish a liquidation committee within 15 days from the date of the approval of the dissolution and start liquidation according to law. After the establishment of the liquidation team, the enterprise shall file with the administrative department for industry and commerce in the place where it is located, and submit:

(1) Application form for company filing signed by the head of the company's liquidation group
(2) Power of attorney signed by the enterprise and a copy of ID card of the designated representative or entrusted agent.
(3) The resolution on the establishment of the liquidation group.
(4) Copy of the business license of enterprise
(5) Other documents and other forms required by the industrial and commercial bureau.

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