Dear tony,
First, I assume that a investment banking firm you mentioned from the
perspective of a US market refers to a company which most business
activities are making investment by its assets. not a real bank. In
China, there are only three types of company that could make external
investment, namly, ordinary compnay, investment company and venture
capital company.
Second, if you intend to establish a foreign investment company. both
the invester and the invested company must meet a set of high
requirement particularly of total assets and capital contribution. For
example, the invested company must have the least registered capital
of us$ 30m. The investor nush have at least total assets of us$ 400m
if it has invest a company in China with investment of at least of
us$10m, or must have invested more that 10 company in China with least
total paid capital contribution of us$30m. And capital contribution
for the investment company must be paid up within two years after the
establishment of the company.
If you intend to establish a foreign invested venture capital
company, there must be a investor which the total capital managed by
within previous consecutive 3 years is at leats of us$ 100m and has
invest at least us$ 50m as venture capital investment. the registered
capital of the venture capital must be paid in 5 years.
However, according to the newly amended PRC company law, you could
setup a ordinary company with the registered capital of at least about
us$5000. but if this new proviosion applicable for foreign invested
company is not clear so far, particularly for foreign invested
investment company. You need consult with Chinease lawyer or relevant
Chinese authorities for this issue. I believe there might be still a
barrier between two kinds of company. If you want to make clear this
issue or to seek any fesible alternative coporate structure, i will be
willingly to discuss it with you further.
Third, when you have selected a form of the investment banking, you
need to local county level (or above level, that depends on the volume
of your investment) of administrative bureau of industrial and
commerce to apply for a company name. after that, you need prepare
legal application documents and submit it with local bureau of
commerce. If you take the form of investment company or venture
capital company, after the preliminary examination, the local bureau
will file the documets upto the Ministry of Commerce to be examined
and approved. Legal documents manly include: application of setup,
AOA, investor's coporat certificate, feasibility study report, lease
agreement and otther required documents. If you take form of of
investment company or venture capital company, you are required to
submit letter of credit signed by a opening bank, insurety for the
investment company's exterbal capital contribution in the future. Of
cource, those documents shall be written in Chinese and English. Have
obtained the approval form the authorities of commerce, you need to
proceed the procedure of registration to get a business license. Once
have got the Business License, you need to make corporate seal, to
apply for certificate of opening bank account, certificate of
organization code, taxation certificate, registration certificate for
foreign exchange. Afterward, you could began to pay the capital
contribution and change your business license which state the paid
capital. Only after the registered capital has been paid up, your
invested company could began the external investment which must follow
the procedure of eatablishment of foreign invested company.
Hopefully, that will be helpful to you. |
