Department of Corporate
The corporate department provides high qualityservices to a wide range of clients including multinationals, large and mediumstate-owned enterprises, private enterprises, and government organs in theareas of
i. general corporate, investment, M&A, restructuring;
ii. stocking plan, option plan, MOB, transformation/restructuring of jointstock system;
iii. venture capital, financial leasing and other financing issues;
iv. other legal affairs encountered in business operation.
The encouragementpolicy of establishing new high-tech enterprises in the special economic zoneof Shenzhen
-Enterprises, which apply for recognitions as high-tech enterprises in Shenzhen,should offer the following materials:
i. requisition of certification of new high-tech enterprises;
ii. copies of business license and certificates of legalrepresentative;
iii. annual audit reports and special auditor's reports;
iv. technical standard and quality test reports ofproducts;
v. bank loan cards;
vi. certificates of credit grading;
- Preferential tax policies:
i. preferential policies ofthe income tax: generally, income tax shall be reduced to 15%; income tax ofexported products which meet the requirement shall be reduced to 10%; jointventure enterprises shall be exempted from income tax for 2 years since thedate of having income; income tax of technological development and transferring which meetthe requirement are free;
ii. exempt from bonus tax and construction tax reduce or exemptfrom VAT (value added taxes);
iii. preferential tariff policies: mainly include reduction,exemption and fast track of customsdeclaration procedure.
- Registered capital:
i. The proportion of providing funds and fixing the prices for thehigh-new technological achievement can exceed 35%;
ii. The lowest registered capital of newly certificated high-techenterprise is RMB30,000 and can be paid by installment;
iii. There is no restriction regarding shareholder or investor'squalifications.
- The fund supporting:
i. The law encourages the establishment of risk investment institutesor funds for the purpose of technology investment by domestic or overseasorganizations or individuals; investment of such institutes or funds may amountto their total registered capital are allowed to establish the investmentinstitution of scientific and technological risk or the risk investment fundsand allows them to make the investment with their full capitals;
ii. The risk investment institution can enjoy the tax allowance in thelight of the new high-tech enterprise;
iii. The law encourages enterprises and other markets main body to setup credit and assurance organization, to set up risk provisioning system of thecredit underwriting organization.
- Construction Land:
i. The production and operation sites newly constructed or procuredby the high-tech enterprises should havethe priority to be included in the plan of specific property investment made by planning department and be granted investment license;
ii. High-tech enterprise should have the priority to acquired approvalof location of production and operation sites, license of land usage plan andlicense of construction plan;
iii. Construction plans of high-tech enterprises should have thepriority to enter approval procedure according to "Regulation of thestarting basic construction project in Guangdong";
iv. Production and operation sites newly constructed or procured bythe high-tech enterprises or and high-tech projects shall be exempted fromhouse property tax within five years starting from the date of completion ofconstruction of construction or procurement;
v. As for the land used by high-tech enterprises and high-techprojects for R&D or production, the transferring cost for right of usingsuch land shall be exempted from any charges and stamp duty shall be returnedby municipal financial department.
- Human Resources:
i. The relevant departments of municipal government shall give priorityin the arrangement of cadres & workers transferring, graduates distributionand residence registration etc. for the personnel required by the high-techenterprises and the high-tech projects. For the professional technicalpersonnel with graduate diplomas or above and who have worked in high-techenterprise for more than two years, the Personnel Department and LaborDepartment under municipal government shall give the quota for residenceregistration.
ii. Simplifying the review and approval procedures for business trips toforeign countries or to Hong Kong requested by the high-tech enterprises andthe high-tech projects. In case the relevant personnel from the high-techenterprises and the high-tech projects request business trips to foreigncountries or to Hong Kong, the foreign affair department of municipalgovernment shall give priority in handling relevant procedures.
- Transactions of property right
i. As for the land used by the high-tech enterprises and the high-techprojects, the transferring cost for right of using such land shall be exemptedfrom any charges.
ii. Transferring incomes fromintellectual property rights which enterprises developed by itself can beexempt from the business tax;
iii. The technological contract that signed by the new high-techenterprise is exempt from the stamp tax.