SME Working Group Meeting
Tuesday, May 12th , 9:00 am – 10:30 am
EUCCC , Beijing
4th Floor, Big Meeting Room
Dear SME Working Group Member,
The European Chamber is pleased to invite you to the next SME Working Group Meeting which will be held on Tuesday, 12th May, 9 am – 10:30am at the EUCCC in Beijing.
In this meeting, we will discuss the draft Representative Office Rules in China.
Representative Offices of foreign enterprises in China have been the most adaptable business vehicle for foreign investors to start business in China since the opening up policies started China's economic reform. A Rep Office has always been and continues to remain the classic market entry vehicle for foreign enterprises to test the waters and gain first-hand experience with the China market. However, foreign investors sometimes get confused over what is allowed to be carried out by the Rep Office and what is not, and they struggle with tax implications which come along while opening, maintaining or closing a Rep Office in China. Common areas of interest also cover whether a Rep Office could hire Chinese nationals directly and whether a Rep Office could be upgraded into a Wholly Foreign Owned Entity.
Often underestimated are the implications of being the Chief Representative of a Rep Office and the compliance requirements in this regard. Recently, the State Administration of Industry and Commerce ("SAIC") has drafted a revised version of the regulation governing Rep Offices which is expected to replace the existing one from 1983 as an attempt to clarify grey areas and administer the operation of the Rep Office more closely. It is important for foreign enterprises to be aware of and familiarize with the changes this draft regulatory change might provide in future. Especially small and medium sized foreign investors should assess the potential impact of the draft regulation on their operations in China carefully.
Our guest speaker Ms. Anthea Wong, Tax Partner of PricewaterhouseCoopers' General Business Advisory Practice will share her insights and help you to get prepared for the possible regulatory changes lying ahead.
Agenda:
1. The draft Representative office rules by Anthea Wong, Tax Partner PWC
2. Q&A session
Please click to find Anthea Wong’s CV for your reference, and confirm your participation for the meeting by replying at tusiad.china@euccc.com.cn by 18:00 Monday, May 11th.