Ministry of Commerce and Ministry of Civil Affairs, Announcement on Matters Relevant to the Investment in, and Establishment of, For-profit Elderly Nursing Homes by Foreign Investors
商务部、民政部关于外商投资设立营利性养老机构有关事项的公告
December 18, 2014 | BY
clpstaff &clp articles &Foreign investment in elderly nursing homes encouraged.
Issued: November 24 2014
Applicability: The establishment of for-profit elderly nursing homes by investors from the Hong Kong and Macao Special Administrative Regions and Taiwan shall comply, mutatis mutandis, with the requirements of this Announcement. In the case of a conflict between existing provisions and this Announcement, this Announcement shall prevail (Article 14).
Main contents: Foreign investors are encouraged to establish for-profit elderly nursing homes in China as wholly-owned enterprises or as equity or cooperative joint ventures with Chinese companies, enterprises or other economic organisations (Article 1).
A foreign-invested for-profit elderly nursing home may engage in elderly care service related domestic investment. Foreign investors are encouraged to develop large and chain elderly nursing home operations, and develop quality elderly nursing home brands (Article 8).
Foreign-invested for-profit elderly nursing homes shall enjoy the same tax incentive policies, and policies for reduction and exemption of administrative and public institutional fees available to for-profit elderly nursing homes invested in and established with domestic capital (Article 9).
If the scope of business of a foreign-invested for-profit elderly nursing home is to include medical and health services, approval procedures shall be carried out in accordance with relevant policies (Article 11).
Related legislation: Measures for the Permission to Establish Elderly Nursing Homes; PRC Sino-foreign Equity Joint Venture Law (2nd Revision); PRC Sino-Foreign Co-operative Joint Venture Law (Revised); and PRC Wholly Foreign-owned Enterprise Law (Revised)
clp reference:2300/14.11.24promulgated:2014-11-24This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now