Record-filing Procedures for Foreign Investment in Real Estate Simplified

28/08/2014

The Ministry of Commerce (“MOFCOM”) and the State Administration of Foreign Exchange (“SAFE”) have jointly released the Circular on Improving the Record-filing for Foreign Investment in Real Estate (the “Circular”), with effect as of August 1, 2014.

According to the Circular, the procedures of record-filing for foreign investment in real estate have been simplified, and the record-filing with the MOFCOM has been changed from paper record-filing to electronic filing and by way of selective inspection during and after the record-filing. The MOFCOM authorizes commerce authorities at the provincial level to verify the materials submitted by foreign-invested real estate enterprises for record-filing purposes, and the commerce authorities at the provincial level shall send the electronic data of the enterprises that have passed the verification for record-filing purposes via the record-filing system. Meanwhile, the MOFCOM shall conduct a selective inspection of foreign-invested real estate enterprises that have passed the verification for record-filing purposes on a weekly basis, and the commerce authorities at the provincial level shall be notified of the enterprises subject to the selective inspection in the system.

(Source: www.mofcom.gov.cn)


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