Shanghai Municipality, «Encouraging the Establishment of Regional Headquarters by Foreign Multinational Corporations Tentative Provisions» Implementing Rules

Promulgated: March 1 2003

Main contents: Section One of the Implementing Rules lists the application documents specifically required for establishment of regional headquarters in the form of investment companies and management companies by foreign investors. Section Two concerns the registration of regional headquarters in the form of management companies. Regional headquarters that provide vital training to their employees may receive financial assistance, and those located in the Pudong New Area shall receive preferential treatment (Section Three). The regional headquarters, the controlled enterprise and a commercial bank can conclude a tripartite agreement on the operation of a basic settlement account (Section Four). Part Five concerns multiple entry visas, residence permits, work permits, travel permits and passports for foreign and Chinese employees.