How To Apply for Foreign Exchange Registration Certificate In China
- The SAFE, its branches/sub-branches and foreign exchange administrative departments (hereinafter referred to as foreign exchange authorities) supervise, administrate and inspect the activities including transaction registration, account opening and use, cross-border receipts/payments and funds remittance involved in overseas listings of domestic companie
- A local exchange authorities after verifying that the necessary documents are correct, will add the company’s name to the system for information on capital accounts (System) and print the registration certificate for transactions via it, and distribute an official certificate for the local company after attaching its official seal. The company in the domestic country can use the certificate of registration to open an account with an overseas listing and carry out relevant transactions.
Documents that are required Foreign Exchange Registration Certificate
- A completed application, accompanied by the Registration Form for Overseas Listing
- Document that demonstrates the CSRC’s approval for listing in foreign firms
- Announcements regarding the conclusion of overseas offerings
- The required additional documents should be provided if the contents of the above documents aren’t in line or verify an authenticity to the transactions
Office Locations and Contacts
Address of the State Administration for Foreign Exchange Huarong Plaza, No.18 in Fucheng Road, Haidian District, Beijing
Postcode: 100048
Hot-line for informants number: +86-10-68401188
What Are All The Eligibility
- All activities undertaken that are carried out by individuals or domestic entities related with foreign exchange transactions or payments or foreign exchange transactions and all activities conducted on the territory of Peoples Republic of China by individuals or foreign entities with respect the receipt of foreign currency as well as transactions in foreign exchange or payment.
- Individuals’ foreign exchange accounts can be held at individual discretion, and deposited with banks, or sold to specifically designated banks for foreign exchange.
- Individuals’ savings for foreign exchange deposit can be deposited with banks on a voluntarily basis, with the option of withdrawing it at will and earn interest while keeping the depositor’s identity to be guaranteed.
Instructions
- The department of foreign exchange administration from the State Council and its local offices (hereinafter the group is referred to as Exchange Administration Agencies) is responsible for the administration of foreign exchange according to laws and regulations . They also take on the responsibility for the application of these rules.
- A domestic business must within 15 working days following the completion of the overseas listing, sign up for listing overseas with the authority for foreign exchange in the city in which it was incorporated (local foreign exchange authority) by providing the following documents
- An application in writing, attached to an application form for Registration Form for Overseas Listing (Appendix 1);
- Document that demonstrates the CSRC’s approval for listing overseas by domestic firms;
- Announcements concerning the successful completion of an overseas offer
- The additional materials required should be provided if the content of the materials above aren’t consistent or do not be used to prove an authenticity to the transactions.
Exchange Certificates come in seven denominations, namely 100 Yuan and 50 Yuan 10 , 5 Yuan 1 Yuan, 5 chiao and 1 Chiao. The Yuan that is used on them is the same amount to Renminbi Yuan. The exchange rate is not refundable in the event of loss.
Requirements Information
- Name and registered address or the principal shareholder(s) for the listed company listed overseas;
- Capital, including offering to the public (including the overallotment) and the conversion of capital reserve surplus reserve, or unrepartited profits into share capital.
- Buy of shares from overseas;
- Converting convertible bonds into shares (for which a certificate of change or cancelation of the registration to foreign credit is needed);
- Shareholding structure of an overseas listed company following the completion of increase or decrease or transfer of shares in the overseas market by a the shareholder in the country of origin;
- Plan of use and purpose that are registered initially for funds that are raised in the overseas market; and
- Other relevant information that is registered.
Need to have the Document
Convertible foreign banknotes bills of exchange, payment instruments made in foreign currency that are instantly cashable or remittances made from abroad can be used by the above mentioned individuals to exchange them to exchange certificates at Bank of China or its designated exchange centers across the country. When distributing the Exchange Certificates the Bank of China (or its exchange center) issues to the recipient the customer with an “exchange note”.
Information that could be helpful
The term “foreign exchange,” as it is referred to within these guidelines, comprises the following payment methods and assets that are denominated in foreign currencies for settlement in international markets:
- money in foreign currency such as coins and banknotes;
- documents or instruments that are payable in foreign currency, such as the following: negotiable instruments, bank deposit and bank cards
- Securities that are backed by foreign currency includes, among other things stocks and bonds;
- Special Drawing Rights
- other assets that are backed by foreign currency.
Other uses for the document/certificate
A domestic business (other than banks and financial institutions) will make use of the registration certificate for overseas listing to establish an account of foreign exchange for listing on an overseas exchange of a domestic business (special account for listing overseas of a domestic company) to conduct its initial public offering (or the subsequent offering) and repurchase using an American bank for money for transfer and remittance in connection with applicable transactions.
External Links
Provisory Regulations for the Bank of China of Foreign Exchange Certificate
Regulative Guidelines concerning Foreign Exchange System of the Peoples Republic of China
State Administration of Foreign Exchange
Regulations regarding the Foreign Exchange System of the People’s Republic of China
Circular Foreign Exchange Administration for Overseas Listings
Other
- Direct investments on China’s territory Peoples Republic of China by foreign individuals or companies must be registered with exchange administration agencies following being authorized by the relevant departments.
- The transactions and issuances of securities or derivatives in the borders of Peoples Republic of China by individuals or entities from abroad must comply with the regulations of the State regarding market access, and must be registered according to the rules of the department of foreign exchange administration from the State Council.
- Direct investments in overseas or overseas the issuance or transaction of derivatives or securities by individuals or domestic entities are registered according to the rules of the department of foreign exchange administration from the State Council. If prior approval or maintaining of the records of the department concerned is required by the regulations of the State The approval or recording process are completed prior to the filing of the foreign currency.