Legislation roundup: SPVs for offshore financing, asset restructuring and listed company takeovers

Foreign exchange



State Administration of Foreign Exchange, Circular on Issues Relevant to Exchange Control in Connection with Offshore Investment/Financing and Round-trip Investment by Residents in China Through Special Purpose Vehicles

国家外汇管理局关于境内居民通过特殊目的公司境外投融资及返程投资外汇管理有关问题的通知



The Circular broadens the meaning of “special purpose vehicle” from having financing as its objective to investment and financing as its objectives, requires registration for (first level) offshore special purpose vehicles directly established or controlled by residents in China only, abolishes the procedures for the registration of the establishment of an offshore special purpose vehicle, registration of financing and the amendment of financing registration, and simplifies the contents for changes in registration.