What agreements and documents are needed to enter into a joint venture in China?

When entering into a joint venture in China, both sides must have a legally binding agreement. This agreement should be written in both Chinese and English to ensure that it is legally enforceable. Moreover, the agreement should be reviewed by China’s Ministry of Commerce (MOFCOM) and should include the following provisions: details on the type of venture, capital contributions from the parties, the duration of the venture, management decisions, dispute resolution and ownership of intellectual property rights. In addition to the agreement, several other documents must be submitted to the MOFCOM. These include a business license application, the Articles of Association, a list of company directors and shareholders, a declaration of financial resources, and verification of the parties’ registration information. It is important to note that each party must also provide additional documents including a local partner’s proof of establishment and a foreign partner’s proof of incorporation. Furthermore, a due diligence report from a legal firm may be required. Finally, the joint venture must be registered with the MOFCOM and all relevant Tax Bureau offices. Once registered, the venture can operate in accordance with Chinese law. At all stages of the process, it is important to have experienced advisors to ensure that all the documents and agreements are completed accurately and in a timely manner.

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What agreements and documents are needed to enter into a joint venture in China?

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