Shenzhen has started the recognition of regional headquarters and quasi-headquarters of multinational companies (MNCs) for 2022 and released the latest application requirements, according to an announcement issued by the Shenzhen Municipal Commerce Bureau on Friday.
The recognized headquarters can enjoy preferential policies in terms of financial support, sci-tech R&D, foreign exchange, taxation services and customs clearance.
As per the notice, enterprises applying for recognition as MNC regional headquarters must be a company registered as an independent legal entity with an actual registered capital of at least US$2 million. The registered place and main business premises for these enterprises must be located in Guangdong Province.
The applicant must be authorized to manage no less than three domestic and overseas independent legal entities, at least one of which must be registered outside Guangdong.
The eligible regional headquarters’ overseas parent company’s assets are required to be no less than US$200 million, while the standard of assets for services MNCs stands at US$100 million.
According to the bureau, organizations applying to become quasi-headquarters are required to perform some functions of regional headquarters as independent legal entities, with their registered place and main business premises in Guangdong.
The applicant’s actual registered capital and overseas parent company’s assets should be at least US$1 million and US$100 million, respectively.
Moreover, the city’s foreign-invested company service workstations have also been taking an active part in assisting overseas enterprises to prepare materials and apply for regional headquarters recognition.
The application deadline for this round of recognition is Aug. 22. The submissions will be reviewed by the city’s commerce bureau and the provincial commerce department. The regional headquarters candidates will be officially recognized after a five-day public review period.