Hainan FTP Business Forum

Can the foreign exchange capital of foreign-invested enterprises be used at will after it is recorded in the Hainan FTP account?

No. The enterprise can only conduct foreign exchange settlements, transfer and external payments within the scope of business after the bank verifies the authenticity.

Where should foreign-invested enterprises in the Hainan FTP handle their banking registration procedures and changes in basic banking information? Foreign-invested enterprises should handle procedures of registration and change of basic information at the bank where they are registered after approva...

Who is required to be the legal representative of a company in the Hainan FTP?

In the Hainan FTP, the legal representative of the company shall be the chairman, executive director or manager in accordance with the provisions of the articles of association.

What are the restrictions on the appointment of directors, supervisors and senior managers of a company in the Hainan FTP? Any who is under any of the following circumstances shall not serve as directors, supervisors or senior managers of the company: (1) being without or with limited capacity of ci...

Who is the highest authority of a sino-foreign equity joint venture and sino-foreign cooperative joint ventures in the Hainan FTP? The highest authority of a sino-foreign equity joint venture shall be the board of directors; a sino-foreign cooperative joint venture shall have a board of directors or...

What are the registration requirements for the enterprise premises certificate in the Hainan FTP? The certificate of use for premises is not required to be submitted, but it shall be a fixed place and comply with the relevant provisions of laws and regulations. The registration authority shall check...

Does a company setting up in the Hainan FTP have to set up a board of supervisors?

Not necessarily. A limited liability company with a small number of shareholders or an SME may have one or two supervisors and no board of supervisors. A joint-stock limited company must have a board of supervisors.

What are the restrictions on a premises location in the Hainan FTP for enterprise registration? (1) The premises of some special industries, such as catering industry (including bars, restaurants, baking gardens, entertainment industry (including dance halls, video screening rooms, downtempo bars, a...

Can an enterprise registered in the Hainan FTP change its name?

Yes. If the enterprise decides to change its name, it shall apply for change registration within 30 days from the date on which the change resolution or decision is made.

Is there a limit on the number of shareholders for setting up a company in the Hainan FTP? A limited liability company shall be established with a capital contribution of no more than 50 shareholders. A joint stock limited company shall have no less than two sponsors and no more than 200 sponsors. A...