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Legal
Legal update China: new laws and regulations in 2019
Regulatory change often comes quickly in China – and the year ahead will be no exception. Some major legal changes already came into effect on January 1st, 2019, whilst others are still in the pipeline. (more…)
China’s New Point System for Expats
On 9 September 2016, the State Administration of Foreign Experts Affairs published the reform of the current work visa system for foreigners in China. The changes will merge the various regulations for foreign specialists with the normal application procedures. The...
Introduction to the United States tax compliance act of foreign accounts
1. What is FATCA? The Foreign Account Tax Compliance Act is a U.S. tax law that was enacted in 2010 – Final U.S. Treasury regulations on FATCA were issued on January 17, 2013. The regulations launched on July 1, 2014,...
Work in Germany: Getting a German Work Permit
Do I need a visa to work in Germany? This article explains who and how you can apply for a German work permit (more…)
Chinese Work Visa for Foreigners
Foreigners, especially those that intend to work in China, often face the question of which visa type to apply for. Since the Chinese Central Government implemented new visa regulations in September 2013, the complexities of the application process for work...
Summarized changes for you implied in the business tax to value-added tax changes
As had been shared earlier this month once by our Ecovis Beijing office, Premier Li Keqiang on 5 March, introduced the government report and with it the announcement that value-added tax (VAT) is going to completely replace business tax (BT)...
ECOVIS in Shanghai and Taicang qualified to review investors’ documentation interested in China’s financial leasing industry
Throughout China’s implementation of the 11th and 12th 5-year-plan the country was seeking to reform and develop its short-term and long-term financial leasing system so as to let the pawn industry play an active role in meeting financing needs of...
How to buy real estate in Germany?
Real Estate in Germany is attractive for foreign investors because of its long-term stability and balance of risk and return. ECOVIS Beijing helps you to get your own German home. (more…)
Important things you need to know about the Chinese Labor Law – Part Two
This is the second part of our two-part article series "Important things you need to know about the Chinese Labor Law". (more…)
Important things you need to know about the Chinese Labor Law – Part One
The labor law of the People's Republic of China (PRC), which has been in effect since 1995, and the newest edition of the labor contract law, in effect since 2012, are now also regulating employment relationships in China. (more…)
Tax deductibles of R&D expenditures in China
The “Law of Enterprise Income Tax” and its “Implementing Regulations” provide that the R&D expenditures incurred for the purpose to develop new technologies, new products and new crafts, can be subject to 50% more additional deduction after being deducted in...
Accelerated Depreciation of Fixed Assets
According to the decision of the State Council on September 17, 2015 the Ministry of Finance and State Administration of Taxation jointly issued the “Circular on Further Improving the Enterprise Income Tax Policies relating to the Accelerated Depreciation of Fixed...
Further Internet Restrictions for Foreign-Invested Companies
The Internet can be a tricky place to navigate in China. What is allowed, what is not allowed, and what may be allowed is constantly changing. Especially online business faces an increasing and evolving set of internet restrictions. Most of...
Intellectual Property
What foreign companies need to know about the Chinese law! The following article explains the Chinese legal framework and points out what you should know as a foreign company to secure your intellectual property appropriately in the long run. (more…)
STARTUP HYPE IN CHINA
China is currently experiencing a startup hype. In this article we will update you about the recent government developments in China and analyze different types of possible investments in the startup sector. (more…)
In 4 Steps to the Annual Compliance Review
Doing it right! How to do your Annual Compliance Review in 4 steps: The Annual Audit, the Annual Foreign Currency Filing, the Annual Tax Audit and Clearance and Report of Enterprise Information Publicity. (more…)
Deadlines for the Annual Compliance Review
As for the annual compliance review: it is not hard work but it needs to be done right. Do not see it only as an additional burden for your company. It is a great chance to do a small “health...
Abgabefristen für den Jahresabschluss auf einen Blick
Die Jahresabschlussprüfung ist nicht kompliziert, aber sie muss gemacht werden. Sehen Sie die Überprüfung nicht als zusätzliche Last für Ihr Unternehmen. Sehen Sie sie als Chance ihr Unternehmen einem Gesundheits-Check zu unterziehen. (more…)
Customs Update
Ecovis Beijing offers tax and legal consulting as well as accounting and auditing services for foreign invested enterprises (FIE) in China. During our work with some manufacturing and trading companies, we came across several issues our clients encountered in the...
Management Structures of a WFOE Part 2
by Richard Hoffmann This is the second of an two part article series about the management structure of a Wholly Foreign Owned Enterprise(WFOE) in China. Read about the General Manager as well as about the Legal Representative and their duties....
The Management Structure of a WFOE
by Richard Hoffmann There are a lot of aspects one has to consider, when setting up a WFOE in China. Choosing a board of directors or better an Executive Director? A Board of Supervisors or only one? And what would be their duties?...
Articles of Association – Key terms for a Foreign Invested Company in China
The Articles of Association (“AoA”) are required in China and have to be approved by the authorities when setting up a Foreign Invested Company. Therefore it is important to know the functions of the AoA and how they can protect...
4 Steps to liquidate a wholly foreign owned enterprise
Going through liquidation is a complex and often long lasting process. Failure to comply with existing regulations might result in severe legal consequences for shareholders. These are the most important steps to consider when closing a wholly foreign owned enterprise....
Someone else registered my trademark in China
In China you should register your trade mark before starting any operation. China operates a first to file policy, meaning if someone registers your trademark in China before you, it belongs to the earliest applicant and you have lost the...
Five reasons for outsourcing bookkeeping in China
Outsourcing your bookkeeping can help running your business more effectively and enables you to focus on the core competencies of your company. In addition, subcontracting a professional accounting firm for providing bookkeeping or payroll processing can increase your profitability, reduce...
Import & cross border payment solutions with 3rd parties in China – A Case Study
Companies importing products to China often face a complex set of payment rules. We did a case study about a previous clients issues concerning cross border payment. (more…)
How to change a RO into a WFOE
By Richard Hoffmann Establishing a Representative Office (RO) is one of the easiest, fastest and cheapest ways of entering the Chinese Market. For certain activities a RO might be the right choice, for others however, it is a waste of...
Seminar: Changing or Expanding Your China Business
Manuela Reintgen of ECOVIS Beijing, in co-operation with the German Centre Beijing, held a seminar explaining how to change a company’s legal structure and expand its operations in China. (more…)
Attention: Foreigners’ tax payments getting checked!!!
By Manuela Reintgen, ECOVIS Beijing China Tax authorities have put a focus on foreigners’ Individual Income Tax (IIT) payments! Beijing tax officials are currently conducting random checks on past tax filings and forcing companies to make self-inspections. (more…)
Many businesses must renew their business licenses! Check the deadline for your company now
By Richard Hoffmann, ECOVIS Beijing Do you have to renew your business license? Here is everything you need to know about China's new format of business licenses. Recently, you may have noticed some differences in the business licenses. Below photos...
Articles of Association – 3 biggest mistakes to look out for
By Richard Hoffmann, ECOVIS Beijing Foreign investors tend to view the Articles of Associations as just a formality. They constitute a long term commitment and it is critical to establish them in a way that suits your needs best. Making...
Netherlands Economic Mission in Beijing – ECOVIS Beijing
By ECOVIS Beijing On Thursday, the 30th of October 2014, ECOVIS Beijing was glad to welcome the Netherlands Economic Mission to China and share expertise with them. Our Business Development Team Manager Manuela Reintgen lectured the delegation on HR issues...
Setting up a Company in the Restricted Tourism Industry in China
By Richard Hoffmann, ECOVIS Beijing If you want to get your feet wet in the biggest outbound tourism market of the world then you must know about the legal and tax regulations that you will face. Not only is China...
Differences between Intellectual Property Protection in China and the EU
By Richard Hoffmann, ECOVIS Beijing China, as well as the European Member States, are members of the World Intellectual Property Organization (WIPO), party to international agreements such as the Paris Convention, the Berne Convention, and the Madrid Protocol. Furthermore, since becoming a...
Online-Seminar: How to Find the Right Legal Form for Your Company in China
04. September 2014 When: 17:00 - 18:00 (CST - China) 11:00 - 12:00 (CEST - Germany) Where: Online (you will receive the link to participate upon registration) Fee: No participation fee Registration: Please register here Foreign investors are confronted with...
An Interview with Erlkönig China: The Automotive Industry in China
By ECOVIS Beijing On Wednesday, 16th of July 2014, Mr. Sven Hundhausen, Director of Erlkönig China held an interview with Mr. Constantin Colberg, Senior Associate at ECOVIS Beijing, about the automotive Industry in China. Current issues such as market entry...
The social security system in China
At the start of June 2014, the Beijing Municipal Human Resource and Social Security Bureau (BMHRSSB) and the Beijing Municipal Bureau of Statistics (BMBS) announced that the average monthly wage in 2013 was RMB 5,793 for Beijing. This number is...
M&A in Germany: the perfect foreign investment?
By Richard Hoffmann, ECOVIS Beijing Mid-sized German businesses are a hot takeover target for Chinese companies. German business is known for its innovation and product integrity, a natural match for China’s large market and manufacturing prowess. As this relationship becomes more apparent,...
SOMEONE REGISTERED MY TRADEMARK IN CHINA!
By Richard Hoffmann, ECOVIS Beijing Before you even sell your products on the Chinese market, the first thing you should do is register your trademark. China operates a first to file policy, meaning if someone registers your trademark in China before you,...
Seminar about individual income tax, social insurance and private pension
By ECOVIS Beijing On the 3rd of June 2014, Ms. Manuela Reintgen from ECOVIS Beijing and Mr. Klaus-Peter von der Eltz from Expatriate Care Consult held a seminar on individual income tax, social insurance and private pension at the German...
Preparing your leasing business in China
By Manuela Reintgen, ECOVIS Beijing Preparing your leasing business in China requires commitment and patience. Both lessor and lessee should be familiar with the tax and legal regulations in order to be compliant with the Chinese law. (more…)
The tax and legal framework of the leasing business in China – An event by VDMA – with contribution of ECOVIS Beijing
On the 22nd of May 2014, the German Engineering Federation (VDMA) organized an event at the Saixiang Hotel in Tianjin focusing on the Construction Equipment and Building Material Machinery Industry in China. Various representatives of related companies came together to...
Foreign Automotive Companies in China – Three Common VAT Issues
By Richard Hoffmann, ECOVIS Beijing The number of automobiles globally is estimated to grow from currently around 650 million to roughly 1.4 billion by 2030. As the largest and fastest growing market for automobiles worldwide, China represents the strongest force behind this...
Dairy Exports to China – Processes and Opportunities
By Richard Hoffmann, ECOVIS Beijing Over the past three decades the production and consumption of dairy products in China have risen enormously with annual growth rates averaging over 10 percent since 2000. This growth trend is expected to continue and increase China’s...
The Crack down on Compliance in China
By Richard Hoffmann, ECOVIS Beijing Compliance in China is often thought to be easily persuaded. However, that is no longer the case. The Eight-Point code (八项规定), passed in December 2012 by the Political Bureau of the CPC Central Committee, was...
Company Liquidation: A comprehensive guide on how to proceed [4/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow. The...
Company set-up in the Chinese tourism industry
By Richard Hoffmann, ECOVIS Beijing From 1949 until the early 1970s, the People’s Republic of China was a closed country and only selected foreign visitors were allowed to enter China. During that time, many Chinese nationals were not allowed to...
Company Liquidation: A comprehensive guide on how to proceed [3/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing China Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow....
Amendments to the Trademark Law of the People’s Republic of China
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing On August 30th, 2013, the Standing Committee of the National People’s Congress revised the Trademark Law of the People’s Republic of China (“amendments” hereafter). The New law will be effective from May 1st, 2014. However, we...
Company Liquidation: A comprehensive guide on how to proceed [2/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing China Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow....
Company Liquidation: A comprehensive guide on how to proceed [1/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing China Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow....
Company Formation China: Amended Company Law Lowers Threshold [2/2]
By Richard Hoffmann, ECOVIS Beijing China For those who plan on registering a company in the galloping new year of the horse, good fortune is on your side as an amendment to the PRC Company Law (the “amendment”) has been issued on...
Company Formation China: Amended Company Law Lowers Threshold [1/2]
By Richard Hoffmann, ECOVIS Beijing China For those who plan on registering a company in the galloping new year of the horse, good fortune is on your side as an amendment to the PRC Company Law (the “amendment”) has been issued on...
Gesellschaftsrechtliche Mindeskapitalerfordernisse in China werden aufgehoben
By Ecovis Munich, Armin Weber Mit dem Ziel einen Markt mit einem fairen Wettbewerb und einem modernen System der Unternehmensregistrierung sowie der Effizienz, Transparenz und Fairness zu etablieren, hat das Ständige Komitee des Nationalen Volkskongresses mit Beschluss vom 28. Dezember...
China HR: The 21 most asked HR questions about the Chinese labor law Part 2/2
by Richard Hoffmann, ECOVIS Beijing China The People’s Supreme Court issued a fourth Interpretation of the Chinese Labor Law, which came into force last year on February 1st 2013. The fourth interpretation contains more specific regulations for payments during the...
China HR: The 21 most asked HR questions about the Chinese labor law Part 1/2
by Richard Hoffmann, ECOVIS Beijing China The People’s Supreme Court issued a fourth Interpretation of the Chinese Labor Law, which came into force last year on February 1st 2013. The fourth interpretation especially contains more specific regulations for payments during...
How to set up a Representative Office in China
By Richard Hoffmann, ECOVIS Beijing China If you want to enter China, you should pick the right entity which will allow you to do all the business related activities you want. For certain activities a Representative Office (RO) will be...
Revision to the Consumer Rights Protection Law of the People’s Republic of China
By Richard Hoffmann, ECOVIS Beijing China After two decades without changes, Consumer Protection Law will be strengthened by Chinese authorities. As the consumer retail landscape is changing quickly, being also a result of the growing e-commerce in China, consumer demanded...