The investment promotion authority certificate is an important document for foreign investors to start a business and make investments in China. Obtaining this certificate can be a complicated process that requires following several key steps. This certificate allows foreign companies to qualify for various benefits and incentives when setting up operations in China. In this article, we will explore the background, procedures, and tips to efficiently get an investment promotion authority certificate approved in China.
Submit the application to the relevant commerce department
The first step is to submit an application for the investment promotion authority certificate to the relevant commerce department in China. This includes provincial or municipal commerce bureaus. The applicant should prepare documents like business licenses, organization code certificate, tax registration certificate, articles of association, and feasibility study reports. Make sure to submit a complete application adhering to all form requirements to avoid delays or rejections. It’s advisable to engage a local agent familiar with the application process.
Conduct necessary record filing
After submitting the application, the company must complete record filing with administration of industry and commerce, tax authorities, customs, foreign exchange bureau and other departments. Proper record filing shows the legitimacy of the foreign invested company and helps obtain approvals faster. Keep scanned copies of all record filing documents for reference.
Get approval from development and reform commission
A key approval needed is from the development and reform commission at the corresponding government level. They will evaluate if the proposed investment project aligns with industrial policies and plans. Provide detailed project profiles, production capability reports, environmental impact assessments and other materials to convince them of your project’s merits.
Obtain the certificate from commerce department
Once all prerequisites are completed, the commerce department will issue the physical investment promotion authority certificate. This will certify the foreign invested company’s eligibility for preferential policies like tax reductions, low rent factories, and duty-free import of equipment. Display the certificate prominently in the office to make smooth use of the benefits.
Obtaining the investment promotion authority certificate requires diligent preparation of documents, record filings, and approval from government agencies. Engage experienced agents and stay compliant with latest policies to get your certificate efficiently in China.