In China, problems with a foreign entity’s business can occur suddenly and for a variety of reasons. Labor costs may increase, tax incentives can be removed, and the way in which foreign investment is treated in a particular industry can be altered. In addition, despite the vast scope that exists for profit, the China market can be a difficult one to conduct business in. A foreign company with a flawed market entry plan or the wrong staff in key positions is likely to incur substantial losses.*
Decisive action is the most effective solution for companies encountering these kinds of problems in China. While de-registration and de-establishment is a common and, at times, correct course of action for a foreign entity to take, there are also a number of other available options that might better suit a company’s individual situation. These include temporary dormancy, business conversion, and company divestiture.*
The European Chamber is delighted to have Ms. Vivian Mao, senior manager of the Business Advisory Service team at Dezan Shira & Associates and Mr. Russell Brown is Founder and Managing Partner of LehmanBrown International Accountants as they explore options that are available to foreign firms looking to restructure or close their operations in China. Ms. Mao will give an overview of what restructuring an unprofitable business in China might entail, and then take an in-depth look at the way in which a foreign company can go about the restructuring process. Mr. Brown will focus on tax obligations and mitigating liquidation risks.
AGENDA
13:30 to 14:00 Registration
14:00 to 14:10 Welcome Remarks
14:10 to 14:40 Presentation by Ms. Vivian Mao, senior manager of the Business Advisory Service team at Dezan Shira & Associates
14:40 to 14:55 Q&A Session
14:55 to 15:25 Presentation by Mr. Russell Brown is Founder and Managing Partner of LehmanBrown International Accountants
15:25 to 15:40 Q&A Session
15:40 to 15:50 Closing Remarks
* Text above is taken from Dezan Shira & Associates' publication. To view this publication, please visit this link.
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