How to account for cancelled overseas investments

Updated on Financial 2024-04-04
2 answers
  1. Anonymous users2024-02-07

    Guidelines for the deregistration of overseas investment enterprises (except financial enterprises).

    1. Statutory basis.

    1) Appendix to the "Decision on the Establishment of Administrative Licensing for Administrative Examination and Approval Items that Really Need to Be Retained" (Decree No. 412 of 2004): Item 191 of the Catalogue of Administrative Licenses for Administrative Examination and Approval Items that Really Need to Be Retained, "Approval of Domestic Enterprises Establishing Enterprises Abroad (Except Financial Enterprises)".

    2) Article 17 of the Measures for the Administration of Overseas Investment (promulgated by Decree No. 3 of the Ministry of Commerce in 2014): "When an enterprise terminates an overseas investment that has been filed or approved, it shall report to the Ministry of Commerce or the provincial-level competent department of commerce that was originally filed or approved after going through the formalities such as cancellation in accordance with the laws of the investment destination." The Ministry of Commerce or the provincial-level competent department of commerce that originally filed or approved the record shall issue a cancellation confirmation letter based on the report.

    3) Notice of the General Office of the Ministry of Commerce on Doing a Good Job in the Administration of Overseas Investment (Shang Ban Hehan 2014 No. 663).

    4) Notice of the General Office of the Ministry of Commerce on Implementing Paperless Management and Simplifying the Procedures for Cancellation of Overseas Investment for the Filing of Overseas Investment (Shang Ban Hehan 2015 No. 197).

    2. Application conditions: Overseas investment enterprises or overseas branches that have been filed with the Provincial Department of Commerce; Overseas investment enterprises or overseas branches of local enterprises approved by the Ministry of Commerce.

    3. Application materials.

    1) The enterprise shall fill in and submit the application through the "Overseas Investment Management System", the information service system for overseas investment cooperation of the Ministry of Commerce, and print the Report Form on the Termination of Overseas Investment of Enterprises after submitting the application.

    2) The original Certificate of Overseas Investment of Enterprises or Certificate of Overseas Institutions of Enterprises (hereinafter referred to as "Certificates").

    4. To handle the procedures for calling Huai, 1) the enterprise shall submit the filing application materials to the window of the Department of Commerce of the government service platform of the Provincial Government Service and Resource Transaction Service Center (hereinafter referred to as the "window of the Department of Commerce").

    2) After receiving the application materials of the enterprise, if the application materials are incomplete or do not conform to the legal form, the Department of Commerce shall notify the applicant in writing of all the contents that need to be supplemented and corrected within 3 working days.

    3) If the application materials of the enterprise are complete and conform to the statutory form, the Department of Commerce shall issue a cancellation confirmation letter within 3 working days from the date of acceptance.

    4) The enterprise pick-up person shall go to the window of the Commerce Department of the Government Service Platform of the Provincial Government Service and Resource Transaction Service Center to receive the "Confirmation Letter for the Cancellation of Overseas Investment of Enterprises".

  2. Anonymous users2024-02-06

    Dear, hello, I'm glad for you, can the capital of a foreign-funded enterprise not be remitted abroad after cancellation? Yes, in general, foreign funds must be remitted from abroad. If the capital contribution is made in the people's currency, it must comply with the "Notice on Issues Concerning Foreign Investment's Investment in the People's Draft Senhe Currency" issued by the former Ministry of Foreign Economic Cooperation.

    According to the Reply of the State Administration of Foreign Exchange on Issues Concerning the Administration of Foreign Investment in Renminbi Reinvestment, the RMB distributed by the foreign party from the liquidation of the invested foreign-invested enterprises in accordance with the law, the RMB obtained from the conversion of shares, and the reinvestment of RMB from the prior investment shall enjoy the same treatment as foreign exchange capital contributions in terms of policy. It is a pleasure to serve you and I wish you a happy life [Eat Whale] [Eat Whale].

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