China company annual filing is a summary of the most relevant information pertaining to a company and close corporation. All companies (including external companies) and close corporations are required by law to lodge their annual returns with CIPC (previously CIPRO) within a certain period of time every year.
Purpose of Annual Filing in China
When companies are not publicly traded, the primary purpose of the annual report is to create a record of accountability for tax and other compliance issues, and to serve the public with notice of who the responsible points of contact are in the company. Where companies are potentially for sale, or where shares are publicly traded, the purpose of the annual report is to provide investors and potential investors with a complete and full disclosure of all material facts and circumstances, so that potential buyers and sellers can make an informed decision.
Annual Filing Avenues in China
The Act makes a distinction between local companies and external companies’ annual filing and the content of each differs. There will therefore be three annual filing lodgment avenues as follows:
1. annual filing lodgment avenues for local companies;
2. annual filing lodgment avenues for external companies;
3. annual filing lodgment avenues for close corporations.
Required Documents for China Company Annual Filing
1. the company’s registered office address;
2. what type of business the company runs (e.g. retail, accountancy, catering);
3. the address where the company’s list of shareholders is kept;
4. the type of limited company (e.g. limited by shares, limited by guarantee);
5. name and address of all company directors (and company secretary if you have one);
6. the number and value of shares issued by the company and who owns them;
7. where details of ‘debentures’ (a type of loan the company has taken out with a promise to repay at a specific time in the future) are kept.
Time of Company Annual Filing in China
Annual filing for local and external companies must be filed within 30 business days from the anniversary date of incorporation. If filing later that the 30 business days an increased fee is payable up until the company is deregistered due to non-compliance.
No manual lodgment of annual filings will be allowed, due to the volumes involved. There is no distinction under the new Companies Act between company types and non-profit companies will therefore also be required to lodge annual filing.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.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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