Legislation roundup: Law firm Measures, employment visas and equity interest investments
December 14, 2012 | BY
clpstaff &clp articles &The Ministry of Justice has revised Measures governing the establishment of branch offices and the Ministry of Human Resources with other departments have issued a Circular allowing foreign personnel to apply for five-year multiple entry visas
Law firms
Ministry of Justice, Measures for the Administration of Law Firms (Revised)
For partnership law firms located in municipalities directly under the central government and cities divided into districts, they may establish branch offices in districts and counties outside the urban area. A branch office should have at least three seconded specialised lawyers and assets of at least Rmb300,000.
Further reading
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Employment
Organisation Department of the Central Committee of the Communist Party of China, Ministry of Human Resources and Social Security and Other Three Departments, Circular on Issues Relevant to Facilitating Visa Issuance and Residence Procedures for Foreign Senior Skilled Personnel Coming to China
Foreign senior skilled personnel and their spouses and children under 18 years old under government recruitment programmes may now apply for five-year multiple entry visas for 180-day stays. They may also apply for foreigner residence permits valid for two to five years.
See the digest for more details.
Further reading
PRC Exit-entry Administration Law, Sep/Oct 2012
Cracking down on illegal employment, Sep/Oct 2012
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Insurance
The CIRC repeals the Circular on the Investment in the Equity Interests of Commercial Banks by Insurance Institutions (关于保险机构投资商业银行股权的通知), removing the limit on investment in the equity interest of a single commercial bank of 1% of the total assets as at the end of the previous year of an insurance company. Insurance companies now follow the limit for general enterprises, which is 30% of the net assets of the enterprise.
Further reading
Circular on the Investment in the Equity Interests of Commercial Banks by Insurance Institutions, Dec/Jan 2006
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