Investment Facilitation. 1. The Parties agree to the gradual simplification of documentation for investment application and examination procedures.
Investment Facilitation. To enhance the level of investment facilitation, the Mainland agrees, with respect to Hong Kong service suppliers investing in the Mainland in sectors of trade in services as liberalised for Hong Kong under this Agreement, to adopt filing administration, in lieu of prior approval, of contracts and articles of association for establishment and change of enterprises. After filing, the related procedures will be processed in accordance with the relevant regulations of the Mainland. This Article does not apply to the following two situations:-
Investment Facilitation. Similar to the investment promotion provisions in most ASEAN-plus dialogue partners’ FTAs, investment facilitation provisions in the discussed agreements also impose a duty to cooperate without any strong and binding obligations. Investment facilitation measures will have more impact if they make it easier for foreign investors to invest and conduct their day-to-day operations in host states. UNCTAD suggests states enhance transparency, efficiency, predictability, and consistency in their investment policy frameworks so foreign investors can feel the immediate impacts. This could be done more effectively at the national level by each host state (UNCTAD, 2016, pp. 117–118). Another successful investment facilitation initiative is Korea’s Office of the Foreign Investment Ombudsman, which provides assistance in resolving diffi- culties companies face both in business management and in daily life. The office has specialists in various fields, such as labour, taxation, finance, and construc- tion, who assist foreign investors in resolving their grievances while investing in the country. If the RCEP could push all negotiating states to create such a kind of office, it would greatly facilitate investment. A senior management and board of directors (SMBoD) provision can also strengthen the investment facilitation pillar in an IIA. This provision is critical because foreign investors may need to place their senior management team (for- eigners) who understands their business operations, in host states. On the other hand, host states often want to increase the spillover effects from foreign invest- ments by requiring investors to employ domestic workers and, at the same time, to retain control over their immigration policies (UNCTAD, 2012).
Investment Facilitation. Article 13
Investment Facilitation. To enhance the level of investment facilitation, the Mainland agrees that, with respect to Hong Kong service suppliers investing in Guangdong Province in sectors of trade in services as liberalised for Hong Kong under this Agreement, except for those encouraged projects and restricted projects that require majority shareholding by Mainland shareholders (including relative controlling shareholding) under the Catalogue for the Guidance of Industries for Foreign Investment and that are subject to approval, the other investment projects will be dealt with according to the same authority and procedures as applicable to the Mainland investment projects, and agrees to adopt filing administration, in lieu of prior approval, of contracts and articles of association for establishment and change of enterprises. After filing, the related procedures will be processed in accordance with the relevant regulations of the Mainland. This Article does not apply to the following two situations:-
Investment Facilitation. 1. The Parties have to maintain accessibility and transparency in the formulation of investment policies and regulations and procedures relevant to Investors. The Parties establish monitoring and review of mechanisms for investment policies.
Investment Facilitation. To enhance the standard of investment facilitation, the Mainland agrees that, with respect to Macao service suppliers investing in Guangdong Province in sectors of trade in services as liberalized for Macao under this Agreement, except for those encouraged projects and restricted projects that require majority shareholding of the Mainland (including relative controlling shareholding) under the Catalogue for the Guidance of Industries for Foreign Investment which shall be subject to approval, the other investment projects together with the Mainland investment projects will be dealt with according to the same authority and procedures, and agrees to conduct filing administration for establishing enterprises, change of contracts, as well as approval of article of associations. The related procedures for the completed filing will be processed in accordance with the relevant regulations in the Mainland. The following two situations are excepted:-
Investment Facilitation. To enhance the standard of investment facilitation, the Mainland agrees that, with respect to Macao service suppliers investing in Guangdong Province in sectors of trade in services as liberalized for Macao under this Agreement, except for those encouraged projects and restricted projects that require majority shareholding of the Mainland (including relative controlling shareholding) under the Catalogue for the Guidance of Industries for Foreign Investment which shall be subject to approval, the other investment projects together with the Mainland investment projects will be dealt with according to the same authority and procedures, and agrees to conduct filing administration for establishing enterprises, change of contracts, as well as approval of article of associations. The related procedures for the completed filing will be processed in accordance with the relevant regulations in the Mainland. The following two situations are excepted:- The reserved restrictive measures under Article 8 of Chapter 4 and the establishment and change of a company or a financial authority in the telecommunications or cultural services sector will be processed in accordance with the provisions of the existing foreign investments laws and regulations and related regulations; The establishment and change of commercial presence other than in the form of a company will be processed in accordance with the relevant existing regulations. CHAPTER 10
Investment Facilitation. To enhance the level of investment facilitation, the Mainland agrees, with respect to Macao service suppliers investing in the Mainland in sectors of trade in services as liberalised for Macao under this Agreement, to adopt filing administration, in lieu of prior approval, of contracts and articles of association for establishment and change of enterprises. After filing, the related procedures will be processed in accordance with the relevant regulations of the Mainland. This Article does not apply to the following two situations:-
Investment Facilitation. Article 14 Investment Facilitation To enhance the level of investment facilitation, the Mainland agrees, with respect to Macao service suppliers investing in the Mainland in sectors of trade in services as liberalised for Macao under this Agreement, to adopt filing administration, in lieu of prior approval, of contracts and articles of association for establishment and change of enterprises. After filing, the related procedures will be processed in accordance with the relevant regulations of the Mainland. This Article does not apply to the following two situations:- (i) The reserved restrictive measures under Article 9 of Chapter 4 and the establishment and change of a company in the telecommunications or cultural services sectors or of a financial institution will be processed in accordance with the provisions of the prevailing foreign investments laws and regulations and related regulations; or (ii) The establishment and change of commercial presence other than in the form of a company will be processed in accordance with the relevant prevailing regulations.
