Prenuptial Agreement in China -- Ella Xu

More and more expacts living in China get married with local Chinese people. They are attractive by the unique oriential temperament and culture when they decide to tie the knot with the lovers.  But, we'd like to remind you to stop here for a minute to consider signing a Prenuptial Agreement with your future spouse.                                                                 

Especially when you meet any of the conditions below: 

1) Having marriage before; 2) Having kids or offspring; 3) Having assests/property abroad; 4) Having or will have Company Shares; 5) Having debt; 6) Having or will have promotion or huge development; 7) Having commercial insurance abroad.

When we help client draft this kind of cross-border Prenuptial Agreement, more emphasis will be paid on the regional and combination of the legal system of the two countries. 

Tomorrow is just another yesterday that has not happened yet. Michael Sylvester

 rolling-earth.jpgWhile Linkedin™ identifies me as both legal counsel and a crystal ball reader, I do not actually have a candle lit gypsy tent with a large glass orb in the center.  Nor do I speak in riddles. 

Well, some of our clients might disagree about the speaking in riddles part, but that does not detract from the larger message that anyone telling you that they are able to predict the future might be as crazy as hell...

Unless, you meant what I did when I chose to use those words to describe what we do here... For, if we accept the proposition that tomorrow is a yesterday that has not happened yet we can rather accurately predict the future.  How?  By trying to limit the negative impact of the expensive and time consuming decisions we made this morning.  That is how we predict the future.  

 

 

 

SAIC called off Enterprise Annual Inspection---Denise Xia

State Administration for Industry and Commerce (SAIC) called off the annual inspection of LLC, share limited company, joint stock limited partnership, partnership, and etc. from 1 March 2014.

At the meanwhile, Annual report will be replaced.

Credit information publicity platform was established last year to fulfill the report online.  Thus, the enterprise could report to the registered bureau through the platform annually within the deadline at any time. But the enterprise shall be liability to the investor’s information, asset liability and registration which is included in the annual report.

The government believes that annual report will bring more convenient to the enterprises. The enterprise could finish the report by internet instead of handing the papers to the government offices.

How to Enforce the Judgement of Foreign Country in China -- Ella Xu

As the international trend of China is growing faster and faster, lots of dispute between China and other countries show up. When the problem happens, the foreigner or the Chinese will choose to file a lawsuit locally if the local court have the jurisdication.  But, it is very difficult to enforce the judgement abroad for a long time.  Most of the result were you won the case after paying for high lawyer's fee and your time, but you can not get back your benefit with that piece of judgement.

 

Now, we'd like to recommend you to use the legal service of Intermediate Court of PRC who can help you enforce your judgement abroad.  The conditions of applying this service is that the two countries have signed Bilaterial Agreement.  Hong Kong, Macao and Taiwan are also included.  It will be looked as a valid judgement locally if your application is succesful。

SAFE to simplify rules on FDI --- Denise Xia

The State Administration of Foreign Exchange (SAFE) will simplify the rules governing foreign direct investment (FDI). 24 regulations for foreign exchange registration, opening accounts, remittance, clearing and settlement will be abolished according to the Notice(Huifa【2013】No.21) which is announced by SAFE.
 
With coming the notice, a new system is offered for FDI and outbound direct investment(ODI). That means the old Foreign Exchange Registration IC Card will be only used to annual renewal. For FDI bank business handling, the enterprise shall go to the SAFE to apply Business Handling Warrant first.

 
 

If foreign doctors can practice in more than one location in Shenzhen?------Shirley Pan

My foreign friend is an ophthalmologist, she raised a relatively short and simple but very important question: If foreign doctors and ophthalmologists can practice in more than one location in Shenzhen ?

Draft labor dispatching licensing measures released---Denise Xia

The Ministry of Human Resources and Social Security on April 19 released for comment a draft of the Measures for the Administration of Administrative Licensing for Labor Dispatching.  
 
The draft Measures provide for the duties and jurisdiction of the relevant authorities regarding administrative licensing for labor dispatching and specify the conditions that need to be met and the materials required for license applications. In addition, the Measures cover supervision over labor dispatching and the legal liability of dispatching entities.

How can a foreigner buy a house in Shenzhen?---Shirley Pan

You may ask whether a foreigner can buy a house in Shenzhen or not.
The answer is not every foreigner in China is entitled to buy a house in Shenzhen. According to the "Notice to regulate foreign institutions and foreign individuals to buy commercial houses “(Shen Guo Housing [2007] No. 254), jointly issued by Urban Planning Land and Resources Commission of Shenzhen Municipality and Housing Authority, the Shenzhen Branch of the State Administration of Foreign Exchange, only those who work or study in Shenzhen for more than one (1) year, are allowed to purchase a set for owner- occupied houses in Shenzhen (residential).
Please be noted, here mentioned is referring to buying residential property. Foreign individuals are forbidden to buy commercial properties under his or her own name, unless he or she incorporates a company in Shenzhen to do that.

Debate Competition of Shenzhen American International School --- Ella Xu

Our firm was invited to be the judges of Debate Competition of Shenzhen American International School. 
It is one of our public services activities in China.  

We are supersied at the clear argument points students make and can feel they are the future of the world. 

The topics are challenging.

1) Whether it is humane to have animal testing;
2) Cellphone is harmful;
3) Whether recycling is valuable;
4) Are Zoos harmful or good for animals 

Regulation and Practice on Foreign Exchange Administration under Trade in Goods - Denise Xia

Since the System Reform of Foreign Exchange Administration under Trade in Goods which is effective on August 1 2012, many companies are confuse what is the new procedure of import and export, how to report in the new system of Foreign Exchange Administration under Trade in Goods, and how to exchange money in the bank.
Though we could read the Notice or Regulations from S.A.F.E, but you will found that you knew the Notice or Regulations very clearly, but regarding practice, you don’t know how to do it correctly. Because different company has different issues, the Notice or Regulations won’t tell you how to handle it if this kind of issue happened. But we will. We will tell you the details what we learn from Practice.

 
 

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