Five supporting measures for international, open and transparent business environment in Hainan

In order to facilitate foreign investment in Hainan, the Hainan provincial Market Supervisory Authority have launched five supporting measures aimed at establishing a legal, international, convenient, open and transparent and predictable business environment while providing enterprises with more convenient registration services to attract both domestic and foreign investors to participate in the construction of Hainan Free Trade Zone and Free Trade Port.

Setting up a service area

Market supervisory authorities in all cities and counties in Hainan are to set up service areas for the registration of foreign-invested enterprises, providing a one-on-one, complete personalised service for foreign-invested projects to accelerate the process.

Reduction of application materials

Documents on the appointment of directors, supervisors, managers and legal representatives shall be exempt and the information shall be recorded by foreign investors in the application for registration (filing). The power of attorney for service of legal documents shall be waived. Inter-departmental communication and cooperation is to be strengthened, and a single form and one-stop shop for those not involved in special measures for foreign investment can be accessed through a single window.

Simplified identification

Foreign investors shall be exempt from providing the Chinese embassy (consulate) certification documents from the Chinese embassy or consulate in their country, and shall only submit a photocopy of their passport. Investors from Hong Kong, Macau and Taiwan only need to offer photocopies of their Mainland Travel Permit.

Declaration of living place

Applicants don’t need to provide house lease agreement or other proof materials for their use of residence. Foreign investors need to fill in a declaration form for commercial residence and a letter of commitment without providing housing and property rights certification.

Improving consulting service

Online consultation and complaint services are to be added to the Hainan E Registration Platform. An English service section is to be added to the platform for foreign investors so that the registration process will be easier.

Related article: Investment policies for Haikou 2019

Follow us on social media

Leave a Reply

Your email address will not be published.