China company annual renewal, also known as China company annual inspection, is one of Tannet's business services. Annual renewal of enterprises is a statutory system in which industry and commerce administrations inspect enterprises on a yearly basis to verify whether the enterprises are qualified to continue operation.
Annual renewal is required for all limited liability companies, joint-stock limited companies, non-company entities and other business units granted the Business Licence of the PRC for an Enterprise as a Legal Person, Business Licence of the PRC, Business Licence for an Enterprise as a Legal Person, or Business Licence. Enterprises newly established shall attend the annual renewal from the year following the year of establishment.
Object and scope of the annual renewal
Objects of the annual renewal are limited liability companies, joint-stock limited companies, non-company entities, partnerships, individual proprietorship enterprises, enterprises operating in China from foreign countries/regions, and other business units granted a business licence.Enterprises newly established shall attend the annual renewal from the year following the year of establishment.
What happens if an enterprise does not attend the annual renewal?
If an enterprises does not accept the annual renewal as required, the enterprise registration authorities will order the enterprise to accept the annual renewal within a specified time limit, and to pay a penalty between RMB10,000 and RMB100,000 if the enterprise is a company (limited /joint-stock/listed company), or a penalty below RMB30,000 if the enterprise is a branch company, a non-company entity or branch thereof, an enterprise operating in China from a foreign country/region, or other business unit granted a business licence, or a penalty below RMB1,000 if the enterprise is a partnership or an individual proprietorship enterprise or branch thereof.
If the enterprise fails to accept the annual renewal within the specified time limit, the enterprise registration authorities will make an announcement. The enterprise’s business licence will be revoked if the enterprise still fails to accept the annual renewal within 60 days from the announcement.
Every year, Chinese authorities on enterprise administration conduct annual renewal of enterprises. It is a routine formality, but still a bit complicated. Trust it with us, and you will save a lot of time and energy to engage in your business.
Contact Us
If you have further enquire, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu , Shenzhen, China.
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