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Forms of Investment, Types of Funding, and associated regulations Foreign investors can invest in the following forms:
The Examining and Approving Authorities For contact information of all relevant administrative offices, please see the Major Administrative Offices page. 1. The examining and approving authority and overall management department for the foreign-funded enterprises in Xiamen is Xiamen Foreign Investment Executive Committee (FIEC). The Committee can examine and approve any foreign-funded projects in Xiamen with investment below US $ 30 million inclusive. 2. The foreign-funded productive or real estate projects and the enterprise establishment in Tong'an County, Xinglin and Jimei Districts, with investment below US $ 30 million inclusive can be examined and approved by the relevant county or district governments. 3. The foreign-funded productive projects and the enterprise establishment in Siming, Huli and Kaiyuan Districts with investment below US $ 10 million inclusive can be examined and approved by the respective district governments. 4. The foreign-funded projects in Haicang and Xiangyu Free Trade Zone can be examined and approved by the local competent authorities. 5. The foreign-funded projects with imported raw materials or import or export of products concerned with the State's import and export quotas or licenses, or with investments above US $ 30 million shall be referred to the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) for examination and approval, by XFIEC upon verification.
Documents to be Submitted for the Establishment of Foreign-Funded Enterprises
Direct Registration of Foreign Funded Enterprises For contact information of all relevant administrative offices, please see the Major Administrative Offices page. Overseas investors investing in the encouraged projects, within the competence of the municipal examining and approving authorities can go direct to the municipal Administration for Industry and Commerce or the respective county or district administrations for registration, so long as the projects are not concerned with import and export licenses or quota restriction and they can maintain the balance of foreign exchange and the factories are set up in the standard factories premises or in the idle factory premises of the existing enterprises for expanded production without any increases or expansion of the utilities. The administrative departments for industry and commerce shall, within 15 days make decisions on approval or disapproval. All the registered projects are regarded as approved and the relating formalities shall be allowed to be gone through.
Initial Submission of Application Documents Investors or trustees can inform the relevant examining and approving authorities of their investment intent and gain the application forms, which shall be submitted to the authorities for examination and approval after being filled out in five duplicate copies when the conditions for production are ensured. If rejected, the examining and approving authorities shall, within seven days, notify the applicants of the comments and reasons; otherwise, the notice of examination and verification shall then be issued and the names of the enterprises be registered. Upon the receipt of the notice, the investors or trustees can submit complete sets of application documents (see "Main Documents to be Submitted for the Establishment of Foreign-Funded Enterprises" ) to the examining and approving authorities for the establishment of foreign-funded enterprises.
Commercial and Industrial Registration For contact information of all relevant administrative offices, please see the Major Administrative Offices page. a. If approved, all the examining and approving authorities shall, within 7 working days after the receipt of and verification on the complete application documents of investors, issue the official documents to approve the establishment of the companies. b. The investors shall, within thirty days after the receipt of the approving documents and certificates, register with the municipal Administration for Industry and Commerce and acquire the business licenses. c. The investors can then apply to the municipal Pubic Security Bureau for the engraving of the seals of the enterprises. d. The investors can then open bank accounts, register with Customs and taxation authorities, etc. e. After the Customs registration, the investors can then arrange for the import and installation of equipment, recruitment of employees and preparations for operation and production. If the projects do not involve any land application for construction of new factory premises; otherwise they shall present the designing plans to the municipal Administration of Urban Planning for the land-use permits for construction, then go through other formalities with Land Administration, such as the approving documents, the red-line prints and permits of land use, etc. After the completion of the working drawings, they can apply to the municipal Construction Commission for project designing permits and construction permits, then start up the construction. After the projects have been completed and accepted they can acquire the certificates for land use from the Land Administration.
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