Governmental supervision of financial industry is very strict in China. For CIRC’s examination of the foreign investors who want to establish representative office in its jurisdiction, the following documents shall be presented in front of CIRC:
Governmental supervision of financial industry is very strict in China. For CIRC’s examination of the foreign investors who want to establish representative office in its jurisdiction, the following documents shall be presented in front of CIRC: (1) A formal application form. The information regarding the applicant and the representative to be set up shall be covered in the form. In respect of the applicant, it includes jurisdiction of incorporation, head office address, total assets as of the end of immediately preceding year, paid up capital, incorporation date and the registered office address, incorporation date and the registered office address, names of members of the Board of Directors and name of the General Manager. In respect of the representative office, it includes full name of the representative office, Address, zip code, telephone number, and fax number of the representative office, Name of the chief representative (the chief representative shall only work for one representative office), Names of other staff of the representative office (the number of the foreign staff working in the representative office shall be limited to a maximum of 3).
(2) An application letter addressed to the chairman of CIRC, signed by the chairman of the Board of Directors or the General Manager. The application letter shall cover Brief introduction to the Applicant, Purpose for the establishment of the representative office, Full name of the representative office, introduction to all staff in the representative office, Operational scope of the representative office, term of existence of the representative office, Address of the representative office, Other relevant information concerning the representative office.
(3) A notarized (and authenticated) copy of the business license or lawful certificate of incorporation or registration certificate issued by competent authority in the applicant’s home country.
(4) The articles of association, a name list of the members of the board of directors, and
(5) A name list of the management personnel or main partners.
(6) Annual reports for the 3 years prior to the application date;
(7) Opinion issued by the relevant competent authority in the applicant’s home country or region regarding the applicant’s establishment of representative office in China, or a letter of recommendation issued by relevant industry association. Such opinion shall or letter of recommendation shall refer to the applicant’s record of penalties received for the three years prior to the date of issuing the opinion or letter of recommendation and such opinion shall be notarized and authenticated.
(8) A Feasibility Report for establishment of the representative officel;
(9) A power of attorney for the chief representative executed by the chairman of the Board of Directors or General Manager of the Applicant;
(10) A declaration made by the Applicant, stating that the chief representative has no record of penalty(ies) due to any serious violation of law or regulation within the 3 years prior to the application date.
(11) Resume of the chief representative. In the chief representative’s resume, his or her name, Birth date, Nationality, Marital status, Summary of academic record and work experience commencing from high school to date shall be included.
(12) Other documents required by CIRC.
For the chief representative of the representative office, he or she shall have at least 5 years working experience; shall obtained a university bachelors degree or higher; If the chief representative has not obtained a bachelors degree or higher, they must have at least 10 years work experience.