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Many businesses must renew their business licenses! Check the deadline for your company now

(March 23rd, 2015)

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 will help you review the differences introduced in the format of the new version of business license based on the amended Company Law that went into effect in March of last year.

tn_Ecovis_Beijing_New_Business_License_2015_inarticleOLDtn_Ecovis_Beijing_New_Business_License_2015_inarticleNEW

When comparing the old and new business licenses, you will see right away, that its layout has been changed from landscape to portrait orientation, while in the bottom-left corner a QR code has been placed, that, when scanned with a smart device, leads to the corresponding entry in the National Enterprise Credit Registry. A less obvious but arguably more important change is that the item Paid-in Capital, representing the ratio of registered to actually committed capital, has been omitted in the layout of the new business license.

Currently, the old business license is still competent to use and legally exists. Whether there is a compulsory deadline for alteration of the new business license depends on the local AIC and we will gladly inquire if it applies to you. Generally, based on the Notification on Relevant Issues regarding Implementing the New Business License issued by the State Administration for Industry & Commerce and the Announcement regarding Alteration of the New Business License issued by the Beijing Administration for Industry & Commerce, we strongly recommend following the legal trend and renewing the business license accordingly.

The following documents will be required during the alteration of the new version of business license:

– Company chop;
– Original business license(including the duplicates)

It will take at least 1 working week for the AIC to grant the new business license.

 

Contact us now for more information on your particular case:

Call our office now at +86 10 6561 6609 – 811

Richard Hoffmann Richard Hoffmann is a Partner at ECOVIS Beijing China. Richard obtained an honor’s degree in law and worked in Germany, America and China for various prestigious law firms prior to joining ECOVIS. He has published more than fifty articles in international magazines, frequently speaks at high profile events in China and abroad and is often invited as a legal expert by international TV. Contact: richard.hoffmann@ecovis.com
Ecovis Beijing is the trusted tax and legal advisor of several embassies and official institutions in China. It specializes in mid-sized international companies and focused on tax & legal advisory, accounting and auditing. If you’re interested in finding out more about tax and legal, don’t hesitate to sign up to our Newsletter or give us a call +86 10-65616609 (ext 811/806) or contact us directly via Beijing@ecovis.com
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Author:
Richard Hoffmann
richard.hoffmann@ecovis.com
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