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Corporate Service - China

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Q&A Regarding the Administrative Regulations of the People’s Republic of China on the Registration of Market Entities (9)

Answer
Q:
Can the market entities directly apply for deregistration if the branches of the market entities continue to exist?
A:
No. Before the market entities applies for deregistration registration, they shall handle the deregistration of their branch according to law.

Q:
Under what circumstances can the market entities apply for deregistration according to simplified deregistration procedure?
A:
The market entities have no rights and debts of creditor or have completed the settlement of rights and debts of creditor, expenses of unhappen or have liquidated, employee salary, social insurance expenses, statutory compensation, should pay the taxes (Overdue Payment, penalty), and by all the investors written commitment for the authenticity of the legal responsibility of this situation, and will handle the deregistration registration according to the simplified deregistration procedure.

Q:
How long does the announcement of simplified deregistration procedure need to be publicized?
A:
The market entities shall publicize the letter of commitment and the application for deregistration through the National Enterprise Credit Information Publicity System, and the publicity period shall be 20 days. If no relevant departments, creditors or other interested parties raise objections during the publicity period, the market entities may apply to the deregistration with registration authority within 20 days after the expiration of the publicity period.

Q:
Do the Individual industrial and commercial households applying for simplified deregistration procedure need publicity?
A: Where an individual industrial and commercial household goes through the deregistration in accordance with the simplified deregistration procedure, there is no need to make an announcement. The registration authority shall push the application for deregistration of an individual industrial and commercial household to the relevant tax authorities. If the relevant authorities raise no objection within 10 days, they may directly go through the deregistration.

Q:
Which market entities can’t apply for simplified deregistration?
A: The procedure of simplified deregistration shall not apply to the deregistration of the market entities which shall be approved according to law, or where the business license of the market entities is revoked, ordered to closedown or revoked, or is included in the list of abnormal operations.

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