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Fund management JV

Date: 2008-10-14 17:40 | Author: Linden Co. Ltd. | From: zhuce100.com | Read Times: 24

Application requirements(conditions)

1Foreign shareholders of the foreign-shared fund management corporation have to be qualified for the following conditions:

A. Legally existing financial institution according to law imposed by its home country, which has not been punished severely by its

domestic securities regulation institutions and judicial authorities in recent 3 years

B. The home country/region of the applicant should have sound legal and regulatory system, and its securities regulator has signed Memorandum of Understanding with China securities regulatory Commission (CSRC) and has maintained an efficient regulatory and co-operative relationship

C. Minimum paid-up capital in foreign currency which can be converted freely equivalent to 300,000,000 RMB

D. Other prudent requirements requested by CSRC

2Sino shareholders of the foreign-shared fund management corporation should have fund management corporation shareholder qualification, Stipulated by CSRC

3Shares and equity held by foreign shareholders of the foreign-shared fund management corporation, should not exceed 33%(including direct and indirect possession) and 49% after 3 years of China’s participation in WTO

4Foreign shareholders should contribute by using currencies which can be converted freely

5President, general manager and deputy general manager of foreign-shared fund management corporation should qualify the qualification conditions of senior managers for fund management corporation, regulated by CSRC

Application procedure and documents:

1Examination and approval for setting up management corporation

-Examination and Approval Department:

-CSRC

-Time limit:

-Within 60 working days

-Management fee: 0

-Documents Required:

-Application report

-Name list of promoters and agreements

-Fund Contract and Trusteeship Agreement

-For promoters who are securities companies or trust &investment corporations,

their financial reports for most recent 3 years audited by accounting firms

-Legal reports issued by law firms

-Other documents requested by CSRC

2pre-approval of joint venture’s name:

-Examination and Approval Department:

-Administration of Industry and Commerce

-Time limit:

-Within 2 working days

-Management fee: 0

-Documents Required:

-Pre-approval for a name

-Appointment letter

3Application for operation of management corporation

-Examination and Approval Department:

-CSRC

-Time limit:

-Within 60 working days

-Management fee: 0

-Documents Required:

-Written application for operation

-Pre-approval for names of enterprise

-Original ratified documents for set-up

-Other documents requested by CSRC

4Proposed agency code registration

-Examination and Approval Department:

-State Bureau of Technical Supervision (The Administration Center of Organization Code)

-Time limit:

-2 working days after acceptance

-Management fee: 0

-Documents Required:

-Approval of article of association

-Application of proposed agency code

5Industry and Commerce JV registration

-Examination and Approval Department:

-Administration of Industry and Commerce

-Time limit:

-7 working days

-Management fee:

-0.8?/SPAN> of amount of registered capital

-Fee for obtaining a copy of the industrial and commercial registration certificate: 20RMB

-Documents Required:

-Application form of setting up joint venture

-Article of association

-Approval by the approving authority and the copy of ‘Approval letter of foreign-invested enterprise?o:p>

-Proof of legal qualifications of all the investors.(foreign investors should provide main body qualifications proof or the identification notarized by their domestic notary organ and also the Chinese embassy in those their home countries. Investors from Hong Kong, Macau, Taiwan must also provide documents notarized by their domestic notary organ (documents from Hong Kong should be stamped and forwarded by the China Legal Service (H.K.) Ltd, Valid Mainland Travel Permits can be personal identification for Taiwan investors and do not need to be notarized.) If countries of which the foreign investors have not established or have already ended foreign relations with China, their main body qualifications proof or the identification should be notarized by their domestic authorities and then by third country’s embassy which the country has established foreign relations with China. All the notarized documents have to be notarized by the Chinese embassy located in the third country. )

-Credit certification of investor (issued by the bank)

-Notice for pre-approval name of the enterprise, name list of the pre-approval investor

-Letter of Authorization

-Corporate secretary (contact) registration form

-Letter of Authorization for legal documents service

-Corporate secretary (contact) registration form

-Besides, the printed name list of the investor, member of the board of director, general manager and supervisor

6Public Security Bureau registration:

-Examination and Approval Department:

-Municipal Public Security Bureau(the administration center of embarkation and disembarkation )

-Time limit:

-6 working days

-Management fee: 0

-Documents Required:

-The registration application for record

-The identification of legal representative

-Business license, approval letter, photocopy of approval

7Chop of enterprise registration:

-Examination and Approval Department:

-Engrave of chop organization proposed by police station

-Time limit:

-2 working days

-Engrave of chop fee:

-500RMB

-Documents Required:

-Application form of chop engrave

8 Enterprise Cope registration

-Examination and Approval Department:

-State Bureau of Technical Supervision (The Administration Center of Organization Code)

-Time limit:

-3 working days after acceptance

-Management fee: 30 RMB

-Documents Required:

-Application form

-Returning paper of proposed agency code

-The identification of legal applicant

-Business license, approval letter, photocopy of approval

9 Tax registration

-Examination and Approval Department:

-Municipal Local Taxation Bureau

-Time limit:

-5 working days

-Management fee:

-10RMB

-Documents Required:

-Identification of legal representative

-Business license, approval letter, photocopy of approval

-Housing contract

-Registration form of tax

10 Administration of foreign exchange registration:

-Examination and Approval Department:

-Beijing center of foreign exchange control

-Time limit for handling:

-20 working days after acceptance

-Management fee: 0

-Documents Required:

-Written application (stamped by chop)

-Copy of business license provided by the legal representative, non-legal representative enterprise shall provide original and photocopy of business license

-Approval documents for approving the setting up of enterprise issued by the Co, mmerce Department, the original and photocopy of the certificate.

-Effective contract of foreign-invested enterprise(except for wholly-owned foreign enterprise), original article of association and its photocopy.

-Original and photocopy of code of enterprise

11Opening bank account

-Due to the different requirement of the bank, the required documents need to be confirmed.

12 Financial registration

-Examination and Approval Department:

-The financial bureau

-Time limit for handling:

-2 working days after acceptance

-Management fee: 0

-Documents Required:

-Business license, approval certificate, photocopy of approval

-Financial registration form

13 Statistic registration

-Examination and Approval Department:

-The statistical bureau

-Time limit for handling:

-2 working days after acceptance

-Management fee: 0

-Documents Required:

-Copy of Business license, approval certificate, photocopy of approval

-Statistic registration form

14Beijing Customs procedure for JV registration:

-Examination and approval department:

-The Customs

-Management fee:

-50 RMB

-Time limit:

-Within 5 working day

-Documents Required:

-Business license copy

-Approval certificate, approval copy

-Article of association photocopy.

-Tax registration copy

-Bank account certificate copy

-Certificate of proposed agency code copy

-Model of enterprise chopjuridical person and apply to customs

-Applicant enterprise registration form

-Applicant enterprise management registration form

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