2024 is the Year of the Dragon in China. Dragon is a symbol of power, nobility, luck and success in China. As the saying goes, "The Year of the Dragon brings great luck", do you want to seek new business opportunities in China this year?
To create a better business environment, China's New Company Law will come into effect on July 1, 2024, which requires companies to pay up the registered capital within five years.
In the past, many companies' paid-up capital was not the amount of registered capital. What exactly should companies do?
For previously registered limited liability companies, the capital contribution period can be adjusted to within five years from July 1, 2024 to June 30, 2027. For example, if you apply to adjust the investment timeline in October 2025, you should complete your registered capital payments before October 2030. All registered capital must be completed by June 30, 2032 at the latest.
If a limited liability company is registered after July 1, 2027, there is no need to adjust the capital contribution period.
In addition, the joint stock companies must pay in full the subscription price for the shares before June 30, 2027.
As the New Year begins, let us start a new! We believe that the implementation of the new laws will help your business to a higher level! Last but not least, we wish you good luck in the Year of the Dragon!
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