Chinese officials have agreed upon an easier application procedure for foreigners who want to obtain permanent residence permits. This was agreed upon in order to attract more talented workforce from other countries. China is already working on a very open foreign investment policy, as the President stated during his recent travel to the United States. Foreign investments are a valuable part of the economy and a more transparent and straightforward legislation is likely to rise the interest in what the country has to offer to entrepreneurs.
China and Georgia have recently signed a framework deal that covers the problem of currency swap. This agreement will not only strengthen the relations between the two countries but it will also help facilitate foreign investment in China coming from Georgia and vice versa. Our Chinese lawyers specialized in foreign investments can help you if you are a Georgian entrepreneur in China.
Chinese President Xi Jinipig wishes to combat cyber espionage and provide for better internet security, an issue that it addressed recently during a meeting with one of the most important foreign investors in the country, the United States. The Chinese president has already talked about improving the business climate in the country and now it appears that he wished to work to the U.S. to address the cyber warfare problem. This could spell good news for foreign investors in China, especially those interested in the ICT sector.
China will introduce a new self-assessment mechanism to allow for better access to tax treaty benefit claims. This is an important step towards simplifying tax administration in the country and it will come as beneficial for companies and individuals who benefit from the provisions of the double tax treaties signed by China. The experts at our law firm in China can give you complete details about the tax benefit claim system.
China plans to enact a long-term plan to boost innovation, foreign investments and economic growth. The government wishes to work with eight selected regions (for now considered pilot zones) that will act as innovation hubs. Investment remains one of the most efficient ways for the country to record economic growth. The experts at our Chinese law firm can help you invest if you are a foreign entrepreneur.
Chinese officials plan to introduce new policies to encourage growth. These are mainly focused on helping small and micro businesses in China and, for this purpose, the Chinese government plans to set up an additional fund, amounting to approximately 60 billion Yuan (almost 9.5 billion $). If you own a small company, the experts at our law firm in China can help you with additional information about accessing special funds for enterprises.
The Chinese government has decided to introduce a new environmental protection tax (EPT) which will replace the existing pollutant discharge fee (PDF) and will allow for a better taxation principle in this area. The law has been drafted and released in order to solicit public comments. Our lawyers in China can tell you how this new law will affect you and what new tax obligations you will have to observe in China.
China and Australia have signed a free trade agreement which will allow for a better collaboration and exchange between the two countries. Under the free trade agreement (FTA), many goods will have zero trade taxes. This treaty is also an opportunity for foreign investors in China coming from Australia as well as vice versa. Our Chinese lawyers can tell you how this treaty and other bilateral agreements can influence your business.
The Chinese Ministry of Finance and the State Administration of Taxation released two policies meant to encourage company mergers and acquisitions (M&A) in the country. Two additional Public Notices also help regulate the administration of corporate restructuring as well as the tax treatment for this process, especially when it involved natural persons. Our lawyers in China can provide detailed information as well as legal advice and assistance for company mergers and acquisitions in the country.