China Amends Company Law Provisions

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China’s National People’s Congress approved recent modifications suggested under the company law of the People's Republic of China (PRC).

Sunnyvale, CA 94085, U.S, January 16, 2014 - (PressReleasePoint) - China’s National People’s Congress approved recent modifications suggested under the company law of the People's Republic of China (PRC). Announced on 28 December 2013, China plans to ease company establishment requirements and reform the company capital registration regime effective 1 March 2014, reports Nair & Co.’s International Compliance Team. PRC’s Company Law modifications have been circulated to highest level; however, for actual implementation, comprehensive regulations have to be issued.

Amendments to the Company Law provisions include:
·         Eliminating the registered capital requirements for incorporating companies.
·         Updating the paid-up capital registration system to a subscription based system.
·         Doing away with the minimum capital requirements.

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Companies planning to set base in China may find the new company registration requirements easier than previously. The new rules are based on the principle of treating both domestic and foreign investors at par.
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