QnA

How enterprises in Shanghai FTZ change their name and address

2022-02-14

If enterprises in the China (Shanghai) Pilot Free Trade Zone want to change their name and address, they must apply for pre-approval for the name change.
What does it mean when FTZ allows foreign companies and Chinese private investors to enter banking business?

2018-08-24

A: Banks in the FTZ can do foreign currency businesses without any restrictions. JV banks and banks with limited licenses are allowed to operate in the FTZ.
Can a private enterprise open a bank in the FTZ?

2018-08-24

A: According to the Master Plan for China (Shanghai) Pilot Free Trade Zone and policies of the China Banking Regulatory Commission, private investors are allowed to open banks in the FTZ and take risks themselves or open a joint venture bank with a foreign financial institution.
Can private banks in the FTZ do all the businesses of a commercial bank?

2018-08-24

A: The FTZ now allows investors to operate banks with a limited business license, which means private banks cannot accept money deposits. Therefore, private banks in the FTZ cannot do all the businesses of a commercial bank.
What does offshore business in the FTZ mean?

2018-08-24

A: Offshore business means that enterprises use overseas resources to manufacture products or provide services for overseas customers. It gives the enterprises four distinct advantages, namely tax reduction, good trade connections with other countries, freedom from foreign exchange control, and a high level of business privacy...
Are there any limits on foreign investors when they set up a professional health insurance company in the FTZ?

2018-08-24

A: A Sino-foreign joint venture or a cooperative enterprise must have a capital of no less than 20 million yuan. The Chinese partner must at least have a 30 percent holding in the company. Their term of investment or cooperation is limited to 20 years.
What are new policies for insurance companies in the FTZ?

2018-08-24

A: There is a major innovation in professional health insurance services. The FTZ allows foreign companies to set up health insurance institutions. The China Insurance Regulatory Commission also announced the carrying out of trials for shipping insurance and liability insurance, which involves property insurance...
How will the tax rebate policy apply to financial leasing companies operating in the FTZ?

2018-08-24

A: Financial leasing companies registered in the FTZ or those having a subsidiary in the FTZ, both foreign-owned and Chinese-owned, can enjoy the tax rebate policy...

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