Shanghai Nuo Di lawyers tell you how to set up the regional headquarter of multinational corporation in Shanghai
“Regional headquarters of a multinational corporation” refers to a sole head office established in this Municipality by a parent company that is registered outside China to perform, in the form of investments or authorizations, management and services functions for enterprises that operate within a region that covers more than one country. A multinational company shall set up its regional headquarter in this city in the form of a wholly foreign-owned investment company, a management company and other enterprises with independent legal personality. The accreditation of the regional headquarters of multinational corporations is the responsibility of Shanghai Municipal Commission of Commerce (“SMCC”) .
The following conditions shall be met in accordance with the Provisions of the Shanghai Municipality on Encouraging Transnational Corporations to Establish Regional Headquarters in Shanghai:
A. Should be a wholly foreign-owned enterprise with the status of an independent legal person.
B. The total assets of its parent company shall not be less than 400 million US dollars.If a service sector enterprise sets up a regional headquarter, the total assets of the parent company shall not be less than $300 million.
C. Its parent company has already invested and accumulatively paid a total registered capital within China of not less than 10 million US dollars and the parent company authorizes the management company to manage a minimum of three enterprises within or without China; or its parent company authorizes the management company to manage a minimum of six enterprises within or without China. Consideration may be given, as appropriate, where the management company in essence meets the aforesaid conditions and makes outstanding contributions to local economic development.
D. The registered capital of the management company shall be not less than two million US dollars.
Founded in March 2007, Shanghai Nuo Di Law Firm is located on the famous Bund of Shanghai. Shanghai Nuo Di Law Firm is committed to the legal services of foreign-invested enterprises. More information can be found at www.shndlaw.com