what are the provisions regarding irregular contribution made by wholly foreign-金沙js9线路中心
updated:2014-12-05
the schedule for contribution payments by foreign investors must be specified on the application for establishing a foreign-funded enterprise and articles of association for a foreign-funded enterprise. while foreign investors are allowed to make their contributions by installments, the last installment must be fully paid within three years of the business certificate’s date of issuance. within any such installment arrangement, the first installment must be no less than 15% of the contribution subscribed by such foreign investors, and must be paid within 90 days of the date of the business certificate for foreign invested enterprises’ date of issuance. should a foreign investor fail to pay the first installment within the period specified, any certificate of approval for establishment of foreign-funded enterprises granted shall automatically become null and void. in such cases, an foreign-invested enterprise must apply for de-registration with the administrative departments for industry and commerce and surrender its business certificate when de-registering. should an foreign-invested enterprise fail to apply for de-registration and not surrender its business certificate, any certificate granted previously shall be suspended by the administrative departments for industry and commerce and said termination shall then be publicly announced. foreign investors must also settle all other installments subsequent to the first installment as scheduled. foreign investors failing to pay their contributions within 30 days of their falling due date without sufficient reason shall be dealt with pursuant to the provision of paragraph 2 of article 30 under “the rules for the implementation of the law of the people's republic of china on foreign-capital enterprises”. should a foreign investor request the deferring of contributions for any reason, the request must first be approved by the relevant examining and approving authorities and then be forwarded to the administrative departments for industry and commerce for filing.