"Foreign investment in the leasing industry management measures" (Ministry of Commerce Decree [2005] No. 5), "the Ministry of Commerce on the provincial departments in charge of commerce and national economic and technological development zones are responsible for the audit and management of some of the foreign-invested enterprises in the service industry approval matters notice" (business letter [2009] No. 2)

2 approval authority

The establishment and changes of foreign-invested financial leasing companies with a registered capital of less than 50 million US dollars shall be examined and managed by the competent department of commerce at the provincial level. Registered capital of 50 million U.S. dollars (excluding 50 million U.S. dollars) or more foreign-invested financial leasing companies by the Ministry of Commerce is responsible for review and management.

3 Reporting Procedures

The establishment (including mergers and acquisitions, reinvestment, etc.) of foreign-invested financial leasing enterprises, the applicant should be in accordance with the "Measures for the Administration of Foreign Investment in the Leasing Industry" to prepare the materials and to the proposed registration of the enterprise to be the location of the competent department of commerce to submit an application for the establishment.

Provincial competent departments of commerce and national development zones from the date of receipt of all the application documents within 14 days, to make a decision on whether or not to approve, to be approved, the issuance of the "Certificate of Approval of Foreign Invested Enterprises", is not approved, a written explanation of the reasons.

4 Conditions for Filing

4.1 The registered capital of the foreign-invested financial leasing company shall not be less than 10 million US dollars;

4.2 The total assets of the foreign investor of the foreign-invested financial leasing company shall not be less than 5 million US dollars;

4.3 The operation period of the foreign-invested financial leasing company in the form of a limited liability company is generally not more than 30 years;

4.4 The foreign-invested financial leasing company in the form of a limited liability company shall not be more than 30 years. More than 30 years;

4.4, have the appropriate professional staff, senior management should have the appropriate professional qualifications and not less than three years of experience.

5 declaration materials

5.1, application form;

5.2, feasibility study report signed by the investing parties;

5.3, contract, charter (foreign enterprises only submit the charter);

5.4, the investing parties' proof of creditworthiness of the bank, proof of registration (a copy), the identity of the legal representative (copy) ;

5.5, the latest year's audit report of the investing parties audited by an accounting firm;

5.6, the list of the board of directors and the letter of appointment of the directors of the investing parties;

5.7, proof of qualifications of the senior management personnel;

5.8, notification of pre-approval of the enterprise's name issued by the administrative department for industry and commerce;

5.9, site use agreement (original) and proof of ownership of premises (copy);

5.10, non-statutory representative to sign the document should be issued by the legal representative entrusted authorization.

6 audit points

6.1, the provincial business departments and national development zones of foreign-invested financial leasing company's approval authority according to the registered capital of 50 million U.S. dollars or less.

6.2 According to Article 16 of the Measures for the Administration of Foreign Investment in the Leasing Industry (Decree No. 5 of the Ministry of Commerce [2005]), "In order to prevent risks and safeguard the safety of operation, the risk assets (including the amount of guarantees) of a foreign-invested financial leasing company shall not exceed 10 times of the total net assets", the financial leasing company can be approved by 10 times of the registered capital. The company can be financed by 10 times the registered capital, so the approval documents and certificates do not have a "total investment".

6.3, in view of the financial leasing company by the CBRC for approval, according to the "Financial Leasing Company Management Measures" the provisions of Article 2: "without the approval of the China Banking Regulatory Commission, any unit or individual shall not use the word 'financial leasing' in its name. "Therefore, the name of foreign-invested financial leasing company shall not contain the words "financial leasing".

6.4 According to Article 2 of the Administrative Measures for Foreign Investment in Leasing Industry, "foreign companies, enterprises and other economic organizations (hereinafter referred to as foreign investors) shall set up in the territory of the People's Republic of China in the form of Chinese-foreign equity joint venture, Chinese-foreign cooperation, or wholly owned by foreign investors, foreign-invested enterprises engaging in leasing and financial leasing business", therefore, a financial leasing company shall not contain the words "financial leasing" in its name. ", therefore, the investor of the financial leasing company shall not be an individual.

6.5, on the audit report, the investor established less than 1 year may not be required to provide an audit report, but should issue a relevant statement or by its shareholders to provide capital contribution guarantee. Audit reports showing insolvency will not be approved.

6.6 The financial leasing enterprise may operate guarantee business related to leasing transactions, but it shall not be its main business, and the word "guarantee" shall not be included in the name of the enterprise.

6.7 The foreign-invested financial leasing company shall submit a report on the business operation of the previous year and a financial report audited by an accounting firm of the previous year to the competent provincial business department and the national development zone before March 31 of each year. The provincial commerce department and the national development zone shall summarize and report to the Ministry of Commerce.

6.8 The application for the establishment of a joint stock limited company should also be based on the relevant provisions of the foreign-invested joint stock limited company to submit other materials.

7 Review time limit: 14 working days.

8 Processing Department: Foreign Investment Division of the Department of Commerce, the state-approved economic and technological development zones, the relevant departments

quite a hassle, you can find an agent to do it on behalf of the company