How Much Do You Know This New Policy?

Policy can change overnight. After introducing the "Integrating 3 Certificates Into one" policy last year, from October 1, 2016, Guangzhou entered a new era when 5 certificates are integrated into one with only one code. Well, how much do you know about this new policy?   

The five certificates are Business License, Organization Code Certificate, Certificate of Taxation Registration, Certificate of Social Insurance Registration, and Certificate of Statistics Registration. 

Namely, the previous 3 certificates plus Certificate of Social Insurance Registration and Certificate of Statistics Registration.

The answer is no. It's stated in the new policy that the Administration For Industry & Commerce should share enterprises' datas with social insurance agencies and statistical agencies. 

Therefore, if you already have the "3 in 1"  certificate with a social credit code, then you don't have to apply for the "5 in 1" certificate.    

According to the new policy, all the procedures, such as application, verification and notice, will be done online. The whole process used to take about 15 working days, but now you just need to wait for about 5 working days(1 working day in Nansha Free Trade Zone). 

This could be A Big Help for foreign entrepreneurs who need to get their work visas as soon as possible. 

With this new system, many procedures are simplified, which means the barriers for registration are actually lowered. Isn't this a good chance for those who want to set up companies in China?

It's stipulated that from January 1, 2018, all corporations should use Business Licenses with unified social credit codes and that by then, all the old licenses will become invalid. So if you haven't changed your Business License yet, you'd better change it before the expiration date.  

Still no. The new document already includes the information of the two certificates. 

And when you have registered the new document, the information has also been stored in the national information system. So you don't have to apply for those two certificates.   

Contact HACOS, and our professional consultants will give you answers!