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Beijing announces subsidies to attract multinationals
International companies that open regional headquarters in Beijing will receive a government subsidy of up to 10 million yuan (US$ 1.46 million) according to measures announced by the city government on June 29.
Companies with registered capital between 100 million yuan (US$ 14.6 million) and 500 million yuan (US$ 73 million) will receive 5 million yuan (US$ 731 thousand); those with registered capital between 500 million yuan and 1 billion yuan (US$ 146 million) will receive 8 million yuan (US$ 1.17 million); and companies with registered capital over 1 billion yuan will receive 10 million yuan.
Existing companies who increase their registered capital will be eligible for the payments. The maximum subsidy payable is 10 million yuan.
Companies whose yearly operating income reach 1 billion yuan for the first time will receive a one-off award of 10 million yuan. CEOs of companies that rank among the top ten payers of enterprise income tax in Beijing will be eligible for a 500 thousand yuan (US$ 73 thousand) award from the government.
In addition to financial rewards, the government is also offering assistance with recruitment, visa applications, housing, and personnel relocation expenses.
Senior executives will be offered permanent residence in Beijing regardless of age and education background. Senior foreign managers and technical staff will be eligible for multiple-entry visas and 5-year residence permits.
http://www.china.org.cn/business/new...t_18043076.htm
Financial incentives for setting up a RHQ in Beijing
http://www.mallesons.com/publication...n/9939566W.htm
Beijing announces subsidies to attract multinationals
International companies that open regional headquarters in Beijing will receive a government subsidy of up to 10 million yuan (US$ 1.46 million) according to measures announced by the city government on June 29.
Companies with registered capital between 100 million yuan (US$ 14.6 million) and 500 million yuan (US$ 73 million) will receive 5 million yuan (US$ 731 thousand); those with registered capital between 500 million yuan and 1 billion yuan (US$ 146 million) will receive 8 million yuan (US$ 1.17 million); and companies with registered capital over 1 billion yuan will receive 10 million yuan.
Existing companies who increase their registered capital will be eligible for the payments. The maximum subsidy payable is 10 million yuan.
Companies whose yearly operating income reach 1 billion yuan for the first time will receive a one-off award of 10 million yuan. CEOs of companies that rank among the top ten payers of enterprise income tax in Beijing will be eligible for a 500 thousand yuan (US$ 73 thousand) award from the government.
In addition to financial rewards, the government is also offering assistance with recruitment, visa applications, housing, and personnel relocation expenses.
Senior executives will be offered permanent residence in Beijing regardless of age and education background. Senior foreign managers and technical staff will be eligible for multiple-entry visas and 5-year residence permits.
http://www.china.org.cn/business/new...t_18043076.htm
Financial incentives for setting up a RHQ in Beijing
- Government bonus (RMB 5 million - RMB 10 million) for a RHQ newly set up after January 1, 2009 with a registered capital of more than RMB 100 million.
- Lease subsidy for three consecutive years, if the lease is more than three years. The amount of the subsidy is capped for a leased area of no more than 3,000 mē and at an amount of 50% of annual rent. This is currently on trial basis in Chaoyang District.
- A lump sum subsidy to a RHQ for building or purchasing its own office (RMB 1,000/mē). The amount of the subsidy is capped for an office area of no more than 5,000 mē.
- Government bonus (RMB 1 million - RMB 10 million) for a RHQ's turnover exceeding RMB 100 million. The bonus is available only for the first RMB 100 million turnover of a RHQ.
- Government bonus (RMB 500,000) bonus for a principal of a RHQ, if the RHQ ranks within top 10 in terms of local tax contribution increment of a year.
- Government bonus (capped at RMB 500,000) to one principal of a RHQ. The bonus will be given in 3 consecutive years starting from the following year after the RHQ status is granted and it is tax free.
- Government bonus (RMB 300,000) to senior management of a RHQ holding a position of vice general manager or above for 2 consecutive years.
http://www.mallesons.com/publication...n/9939566W.htm