The UK government, through the UK Trade & Investment department, has detailed a wide range of sectors in which it is seeking to attract COI including aerospace, automotive, energy, information and communication technologies and life sciences. Notable COI in the UK includes:

(a) oil and gas, e.g. PetroChina's oil refining and trading joint venture with INEOS;

(b) infrastructure, e.g. China Investment Corporation's acquisition of a 10% stake in Heathrow Airport Holdings;

(c) real estate, e.g. Dalian Wanda's acquisition of a development site on London's South Bank; and

(d) nuclear, e.g. the proposed (and UK government approved) joint investment by China General Nuclear Power Group and China National Nuclear Corporation in a 30-40% stake in the consortium developing the Hinkley Point C nuclear reactor.

b. Is the government generally supportive of COI? Which government, and regional, bodies are responsible for driving COI in your jurisdiction?

The UK government expressly welcomes Chinese investors. At a speech to students at Peking University in 2013, George Osborne (the UK's Chancellor of the Exchequer) stated “one of my principal goals this week is not just to increase British investment in China. But to increase Chinese investment in Britain... Indeed I would go as far as to say that there is no country in the west that is more open to investment – especially from China”.

In mid-2014, David Cameron and Premier Li Keqiang signed trade deals worth £14 billion and the China Development Bank signalled its intention to invest further in next generation nuclear plants, the High Speed 2 rail link and telecommunications in the UK.

UK Trade & Investment has the main responsibility for driving foreign direct investment (FDI) in the UK. For COI specifically, they work with the China-Britain Business Council, which has a presence in 13 cities across China.

Section 2: Investment vehicles

a. What are the most common legal entities and vehicles used for COI in your jurisdiction? How long do they take to become operational?

Foreign investors will generally use a legal entity that most suits their corporate and tax structuring goals (and it could be incorporated outside the UK, although UK regulators can occasionally be wary of the use of acquisition entities incorporated in jurisdictions perceived as offshore tax havens). The most common UK legal entity is a limited liability company (which could be private or public, with the key distinction being that only public limited companies may offer shares to the public). Other business vehicles include partnerships, limited liability partnerships and branches of overseas companies. All of these entities and vehicles may be established and become operational within a short period of time.

Joint ventures between Chinese companies and established UK companies are often used to gain experience of working in the UK, e.g. the Beijing Construction Engineering Group partnered with Carillion, the British construction company, on the £800 million development of Airport City Manchester.

b. What are the key requirements for establishment and operation of these vehicles which are relevant to COI (e.g. is there a requirement for local directors)?

Chinese investors may establish and operate any of these vehicles in the same manner as local investors and no regulatory approvals are required to set up these vehicles in the UK. There are no residency requirements for directors of a UK company, although there may be tax residency considerations which affect the location of management.

Section 3: Investment approval

a. For foreign investment approval (including any national security review) explain the approval process and timing.

Unlike in many other European jurisdictions, there are currently no general restrictions on foreign investment in the UK, although there may be a requirement for sector-specific regulatory approvals or competition approvals (see responses 3b and 3c below). The failed bid by Pfizer for AstraZeneca (in May 2014) triggered heated political debate about whether a public interest requirement should be introduced in the UK, and - whether or not this leads to any new regulation - it serves as a reminder of some of the broader issues that may need to be dealt with on high profile acquisitions, particularly in the run-up to the UK general elections in May 2015. Note also that UK businesses often have interests or customers abroad, which could mean that a UK investment triggers foreign investment approval requirements in other jurisdictions.

b. Briefly explain the investment restrictions for any specially regulated/restricted sectors (natural resources, financial services, telecoms and infrastructure, etc), including whether the government is entitled to any special rights (e.g. golden share) in those sectors.

While there are no general restrictions on investment, in certain cases investors may need sector-specific approval or the UK government may have the power to restrict investments or changes of control, for example:

• broadcasting and newspapers: the Secretary of State may intervene to ensure “plurality of the media”;

• water: mergers of licensed water companies are subject to a compulsory reference to the UK Competition and Markets Authority (CMA);

• defence and national security: the Secretary of State has the power to intervene to ensure that investments in these sectors promote the public interest;

• banks and insurance companies: parties need to have regulatory consent for any direct or indirect transfer of a controlling interest in such companies - usually 10% or more of the voting rights; and

• companies that hold oil or gas licences: a change of control could result in that licence being revoked if the change of control prejudices the company's ability to meet its licence commitments, liabilities and obligations.

A small number of UK companies still have “golden” shares conferring special rights to the UK State, for example companies in the defence sector, but such rights are limited and may be unenforceable as a matter of EU law except in cases in which the golden share is necessary to maintain national security.

c. Which authority oversees competition clearance, when is notification mandatory, and what is the merger clearance process (including whether pre- or post-closing)?

The COI may trigger a filing requirement under either EU or UK merger control regimes, but not both. This is because the EU regime offers a one-stop shop for European merger control, meaning that if the filing thresholds under the EU Merger Regulation (EUMR) are met, a single merger control filing will need to be made to the European Commission and separate filings to the EU member state authorities will not be required.

An EUMR filing will be required where the transaction amounts to a concentration; and the parties meet certain global and EU-wide revenue thresholds. The application of the concentration test is quite complex, but in general terms, a concentration will arise where there is a pure merger between two or more firms or where one or more firms acquires control in another firm. A minority investment which does not confer any controlling rights will currently not meet the concentration threshold.

The EUMR regime is mandatory and suspensory, meaning that completion of the COI must be automatically suspended and no integration may begin until the COI has been reviewed and cleared by the European Commission. The European Commission has the power to impose financial penalties of up to 10% of the aggregate turnover of the relevant parties to the transaction and to invalidate to mergers if the parties do not file before closing.

If the COI does not meet the thresholds for an EUMR filing, it should then be considered whether a filing in the UK (and in any other relevant EU member state) should be made. As of April 1 2014, the CMA is the regulator responsible for merger control in the UK. A transaction will come under the CMA's remit where two or more enterprises cease to be distinct, meaning that they are brought under common control; and either the target's turnover in the UK exceeds £70 million or a combined share of supply or purchases of goods or services in the UK (or a substantial part of it) of 25% is created or enhanced by the transaction.

The UK runs a voluntary and non-suspensory merger control regime meaning that there are no penalties for failing to file or for implementing the transaction before clearance. A large number of deals are, however, in practice pre-notified to give the parties legal certainty since the CMA can investigate a deal whether or not the parties have filed and can impose hold-separates on completed deals.

d. Are there any unique processes that potentially could block a foreign investment, e.g. consent from labour unions?

While many employees in the UK are members of various trade unions, there is no general statutory requirement to consult with employees before undertaking an acquisition of shares in a company that has employees in the UK. However, asset deals - unlike share deals - are likely to require an employee consultation exercise where the employing entity of any employees will change or if the employment of any employees may be terminated as a result of the asset deal. A failure to carry out such a consultation exercise will not affect the validity of any transaction but could result in a significant award of damages against the seller and/or the purchaser.

Many UK companies have liabilities under defined benefit pension schemes. The UK Pensions Regulator has a broad power to require companies to financially support or contribute to under-funded pension schemes of companies in their corporate group. This can lead to large and unexpected liabilities for purchasers which acquire such companies. Accordingly, if there is a pension deficit in the target group, a purchaser would be advised to engage with the Pensions Regulator and the trustees of the target company's pension scheme before undertaking the acquisition.

e. Are there approval requirements when a foreign investor increases or exits its investments?

There are no approval requirements that are specific to foreign investors increasing or exiting their investments.

Section 4: Tax and grants

a. Are there tax structures and/or favourable intermediary tax jurisdictions that are particularly useful for FDI into the country?

The UK has one of the largest networks of double tax treaties and agreements in the world, making the UK an attractive regime for holding companies and giving a high degree of flexibility in structuring FDI transactions.

The UK has relatively generous rules permitting tax relief for interest, including on loans to fund equity purchases and on shareholder debt. Investments into the UK will therefore generally be structured to maximise UK interest relief (i.e. investing through a mixture of debt and equity, having regard to transfer pricing issues and other anti-avoidance rules). UK withholding tax on interest then needs to be considered; where withholding would otherwise apply it may be possible to mitigate it under an applicable double tax treaty.

b. What are the applicable rates of corporate tax and withholding tax on dividends?

The UK government has committed itself to making the UK the most competitive tax regime in the G20. In line with that ambition, the full rate of UK corporation tax chargeable in respect of the profits of a UK-resident company has been progressively lowered over recent years, and as of April 1 2014 stands at 21%. The rate is scheduled to fall to 20% on April 1 2015.

The UK does not generally impose withholding tax on dividends or other distributions, irrespective of the location of the recipient. Withholding at a rate of 20% may in some circumstances apply to distributions by certain types of investment fund (including real estate investment trusts, property authorised investment funds and investment trusts) but may be capable of being mitigated under an applicable double tax treaty.

c. Does the government have any FDI tax incentive schemes in place?

Although the UK government does not have any tax incentive schemes in place that are specifically applicable to FDI, the UK government is committed to making the UK attractive to international business, including by maintaining a competitive tax regime.

The UK revenue authority also has a specific team devoted to supporting inward investment by providing written rulings to clarify the UK tax consequences of significant investments in the UK.

The UK has a number of incentive regimes that are applicable to all taxpayers, including a system of tax relief for expenditure on research and development and a patent box regime which applies a reduced rate of tax to profits that are attributable to qualifying patents and certain other intellectual property rights.

d. Other than through the tax system, does the government provide any other financial support to FDI investors? If so, please provide an overview.

Although the UK government does not offer any grants or other non-tax incentives that are specifically applicable to FDI investors, there are various forms of grants that might be available for FDI, including: Enterprise Zones; Regional Growth Fund; and the Grant for Business Investment Scheme.

e. Are there any reciprocal tax arrangements between your jurisdiction and China? If so, how can they aid investors?

There is a double taxation agreement in force between China and the UK. It was substantially renegotiated in 2011 and is largely consistent with the model double tax convention produced by the Office for Economic Co-ordination and Development (the OECD).

There is also a double taxation agreement in force between Hong Kong and the UK, dating from 2010. Again, this largely follows the OECD's model treaty.

Both treaties provide for mitigation of withholding tax on interest payments. Under the China-UK treaty the rate of withholding on UK source interest paid to a resident of China may be reduced from 20% to 10% (or, in the case of certain government bodies, eliminated entirely). Under the Hong Kong-UK treaty, UK withholding on interest will generally be eliminated for payments to a Hong Kong resident.

Section 5: Forex controls and local operations

a. What foreign currency or exchange restrictions should foreign investors be aware of?

There are no foreign currency or exchange restrictions in the UK. It should be noted that the UK does have sophisticated anti-money laundering and anti-bribery regimes, which apply equally to both foreign and domestic investors and assist in increasing transparency for investors and reducing corruption.

b. Are there any legal restrictions on bringing in foreign workers and how difficult is it for foreign investors to secure expatriate visas for shareholder representatives, senior managers and workers in practice?

In his speech at Peking University in 2013 (see response 1b above), George Osborne made clear that there was no limit on the number of Chinese tourists who can visit the UK, no limit on the amount of business China can do with the UK and no limit on the number of Chinese people who can live as students in the UK. On the same trade trip, the Chancellor also announced a relaxation of the rules for visa applications for Chinese visitors to the UK.

Although the rules for Chinese visitors have been relaxed, there is no special regime for Chinese nationals who wish to move to the UK to live and work. Instead, these individuals must apply for immigration permission in the same way as all other individuals who are not from the European Economic Area or Switzerland. This generally requires the UK employer to be registered as a sponsor and to support the applicant's visa application. Nationals of countries within the European Economic Area and Switzerland do not require permission to work in the UK.

Section 6: Dispute resolution

a. Does your jurisdiction have a bilateral investment protection treaty with China or other jurisdictions commonly used for investing into the country?

The UK has bilateral investment protection treaties with both China and Hong Kong. These treaties aim to create favourable conditions for and to promote and protect investments made by investors in China and Hong Kong, respectively, into the UK and vice versa. The effect for investors in China and Hong Kong investing into the UK is that they enjoy, among other things:

• free admission of their investment into the UK;

• equal treatment of their investment to that of a UK national or a national of any other country;

• compensation for certain types of loss in relation to their investment;

• protection against expropriation of their investment; and

• freedom to transfer their investment and the return on such investment out of the UK.

b. How efficient are local courts' enforcement and dispute resolution proceedings, and are there any procedural idiosyncrasies foreign investors must be aware of?

English law is one of a handful of preferred governing laws for international transactions. English courts are very experienced and reasonably efficient in determining commercial disputes.

London is also a preferred seat for international arbitration among commercial counterparties. This is due to its reputation as a neutral and impartial jurisdiction, the prevalence of English law as a governing law and the large pool of specialist barristers, solicitors and arbitrators available.

c. Do local courts respect foreign judgments and are international arbitration awards enforceable?

Different rules apply when assessing whether the English courts will enforce a foreign court judgment depending on the jurisdiction in which the foreign court judgment was given. If the judgment was given anywhere else (i.e. in a country that does not have an applicable bilateral or multilateral agreement with the UK on reciprocal enforcement of judgments, for instance China or Hong Kong), its enforceability will be governed by English common law. Under English common law, to be enforceable the foreign court judgment must be a money judgment for a fixed sum, final and conclusive in the court which pronounced it and it must have been given by a court regarded by English law as competent to do so. Further, under common law the judgment cannot simply be registered in England; rather, fresh proceedings must be issued in England to enforce the judgment as a debt. In the absence of accusations of fraud, it is unlikely, however, that the merits of the case decided before a competent foreign court would need to be reconsidered by the English courts and so summary judgment (i.e. a speedy and early hearing of a claim without the need for a full trial) is likely to be given in such circumstances.

The UK is a signatory of the New York Convention (which provides for the recognition and enforcement of foreign arbitral awards by contracting states) and has enacted the requisite domestic legislation to bring it into force. There are almost 150 signatories to the New York Convention, including China, whose territory for the purpose of the New York Convention includes Hong Kong.

d. Are local judgments and arbitration awards from your jurisdiction generally enforceable in other jurisdictions?

Different rules apply when assessing whether an English judgment will be enforceable in a foreign jurisdiction depending on the jurisdiction in which enforcement is sought. In determining the enforceability of an English judgment in any other country (including in China or Hong Kong), the local law of that country will apply.

Arbitral awards made in the UK will generally be enforceable in other states who are signatories to the New York Convention, subject to certain exceptions. Notably, China (whose territory for the purpose of the New York Convention includes Hong Kong) will only enforce arbitral awards made in the territory of another contracting state (such as the UK), and only where the issues arbitrated arose out of legal relationships that are considered commercial under local law.

AUTHOR BIOGRAPHY

Simon Weller

Simon Weller is a corporate partner in the Hong Kong office of Freshfields. His practice focuses on domestic and cross-border public and private M&A, joint ventures and private equity.

Simon graduated with a law degree from Clare College, Cambridge University, and joined Freshfields in London as a trainee in 1997. He became a partner in the firm's London private equity practice in 2008 and relocated to Hong Kong in 2011.

Simon's recent M&A experience includes advising Dalian Wanda Group on its acquisition of Sunseeker International, Cheung Kong Infrastructure on its takeover of Northumbrian Water Group, Tesco on the establishment of a joint venture with China Resources Enterprise and Hutchison Whampoa on its US$5.6bn strategic alliance between
AS Watson and Temasek.

英国

Simon Weller

富而德律师事务所

第一节：中国境外投资

1. 您国家吸引中国境外投资或您政府有意吸引中国境外投资的主要有哪些行业？

英国政府通过英国贸易投资总署详述了一系列意在吸引中国对外投资的行业，包括航天航空、汽车、能源、信息和通讯技术以及生命科学。中国在英国令人瞩目的投资包括：

(1) 石油和天然气，例如中石油与英力士（INEOS）建立的从事石油精炼和贸易的合营企业；

(2) 基础设施建设，例如中国投资公司收购希思罗机场控股公司10%的股权；

(3) 不动产，例如万达收购伦敦南岸的一处开发物业；

(4) 核能，例如中国广核集团和中国核工业集团公司建议（且英国政府已批准）联合投资收购一家开发欣克利角核电站C反应堆联合体的30-40%股权。

2. 政府一般支持中国境外投资吗？在您国家，哪些政府或地方机构负责推动中国境外投资？

英国政府明确表示欢迎中国投资者。在2013年对北京大学学生演讲时，英国财政大臣乔治奥斯本表示：“我本周的主要目的之一并不仅仅是增加英国在中国的投资，而且也要增加中国在英国的投资......的确我甚至要说在西方没有哪个国家在投资方面比英国更开放——特别是来自中国的投资。”

2014年中戴维•卡梅伦和李克强总理签署了价值140亿英镑的贸易协议，而且中国国家开发银行表示有意对英国的下一代核电厂、2号高速铁路和电信业务进行进一步投资。

推动外国对英国的直接投资主要由英国贸易投资总署负责。就中国对外投资而言，该部门与英中贸易协会合作，后者在中国13个城市设有办事机构 。

第二节：投资工具

1. 您国家最常用于中国境外投资的法人实体和工具有哪些？要多久才可营运？

外国投资者一般采用最适合他们公司及税务设计目标的法律实体（且该实体可以是在英国境外注册成立的，尽管对使用在被认为是离岸避税天堂的法域注册的并购实体，英国监管机构偶尔会持审慎态度）。最常见的英国法律实体是有限责任公司
（可以是私人有限责任公司也可以是公众有限责任公司，这二者之间的主要区别是只有公众有限责任公司可以公开发售股份）。其他经营媒介包括合伙企业、有限责任合伙企业以及海外公司的分支机构。所有这些实体和媒介均可在短时间内设立并投入运营。

常常通过由中国公司和有实力的英国公司共同设立合资企业以取得在英国参与项目工作的经验。例如，北京建工集团与英国的建筑公司Carllion合资进行8亿英镑的曼彻斯特空港城开发项目。

2. 设立和营运与中国境外投资相关的企业主要需符合什么要求 (例如：有没有规定必须要有本地董事)？

中国投资者可以按照与当地投资者一样的方式设立和运营上述媒介，在英国设立这些媒介并不需要取得监管部门的批准。英国公司的董事并无居民要求，虽然从税务居民方面考虑管理层身在何地可能会有所影响。

第三节：投资审批

1. 关于外商投资的审批 (包括任何国家安全审查)，请说明审批程序和所需时间。

与欧洲许多其他法域不同，英国对外国投资现时没有总体的限制，虽然有可能会需要取得特定行业的监管批准或竞争方面的监管批准（参见下面第三节2和3的回答）。辉瑞未能成功收购阿斯利康(2014年5月)，引起了激烈的政治争论，究竟英国是否应引入公共利益的条件限制，以及是否因此而要制定新的法规，甚至再一次唤起了对高调收购的一些更广泛议题的处理问题，尤其是在英国2015年5月的大选即将来临的情况下。还需要注意的是，英国企业常常拥有境外股权或客户，这就意味着对英国的投资可能会触发其他法域的外国投资审批要求。

2. 请概述任何特别受监管/限制的行业 (自然资源、金融服务、电信和基础设施等)的投资限制，包括政府在有关行业是否有特别权利 (例如黄金股份)。

虽然没有普遍性的投资限制，但在特定情况下投资者可能需要取得特定的行业批准，或者英国政府可能有权限制投资或控制权变化，例如：

• 广播和报纸：国务大臣可以进行干预，以保障“新闻媒体的多元性”；

• 水务：持牌水务公司的合并必须提交英国竞争及市场管理局（CMA）决定；

• 国防和国家安全：国务大臣有权进行干预，以确保对这些行业的投资能够促进公共利益；

• 银行及保险公司：直接或间接转让此类公司的控股权（通常为表决权的10%以上）需要取得监管部门的同意；

• 持有石油或天然气牌照的公司：当持有石油或天然气牌照的公司发生控制权变化时，如果该控制权变化影响了公司履行其牌照承诺、责任和义务的能力，则该控制权变化可能会导致牌照被吊销。

少量的英国公司仍然有给予英国国家特殊权利的“黄金”股份，举例而言，国防行业内的公司，但这类权利是受到限制的，从欧盟法律角度来说可能无法执行，除非黄金股份对于维护国家安全来说属于必要。

3. 哪个机关负责监管竞争审查？什么时候报告是强制性的？并请概述合并审查程序(包括合并前后)。

中国对外投资可能触发欧盟或英国并购控制制度规定的申报要求，但并非两者都需要。这是因为欧盟制度为欧洲的并购控制提供“一站式”服务，意即如果达到欧盟合并条例规定的申报限额，只需向欧盟委员会作出一项并购控制申报即可，不需要向欧盟成员国有关部门另行申报。

当交易达到“集中”标准并且双方达到特定的全球或欧盟范围的营业收入标准时，就需要实行欧盟合并条例规定的申报。“集中”测试的申请相当复杂，但一般来说，在两个或更多公司之间时进行纯粹合并或一个或数个公司收购另一公司的“控制权”的情况下，就会产生集中。并不会获得任何控制权的少数股权投资目前不会达到“集中”标准。

欧盟合并条例具有强制和停止效力，也就是说在欧盟审查并批准中国对外投资之前，中国对外投资项目必须自动暂停成交，不得进行任何整合。如果双方未在交割前进行申报，欧盟委员会有权处以最高可达有关交易方总营业额10%的罚金并使合并无效。

如果中国对外投资未达到欧盟合并条例规定的申报限额，然后就应考虑是否须在英国（或任何其他相关成员国）进行申报。截至2014年4月1日，CMA是英国负责并购控制的监管部门。如果交易导致两个以上企业不再独立，即他们开始受到共同控制，并且交易导致目标公司在英国（或英国大部地区）的营业额超过七千万英镑或各方在英国商品或服务的供应或采购市场上的合并后份额达到或超过25%，则需要向CMA进行申报。

英国实行自愿申报及无需批准的并购控制制度，也就是说没有申报或在批准之前实施交易并不会受到处罚。但实际上大量的交易还是进行事先申报，这样能够为双方带来法律上的确定性，因为不管双方是否作了申报，CMA都有权对交易进行调查，并对已完成的交易施加
“被收购公司资产不动”令。

4. 有没有任何特别的程序例如工会同意之类，有可能会阻止外国投资的呢？

虽然英国许多雇员都属于不同工会的成员，但并无普遍的法定规定要求在收购一家在英国拥有雇员的公司的股份之前与雇员进行协商。但是，与股份交易不同，在资产交易的情况下，如果用人单位变更或者由于资产交易而可能解雇雇员，则很可能要求与雇员进行协商。不进行该协商并不会影响交易的有效性，但会导致买卖方被判支付巨额损害赔偿金。

许多英国公司都负有确定福利养老计划规定的责任。英国养老金监管部门享有广泛的权力，可以要求公司在经济上支持或资助其公司集团内部公司的资金不足的养老金计划。这可能会为收购该等公司的买方带来大量未曾预见的责任。因此，如果目标公司集团内存在养老金方面的亏绌，买方在进行收购之前最好先与养老金监管部门及目标公司养老金计划受托人洽询一下。

5. 外国投资者如增加或撤回投资，有什么审批要求？

对于外国投资者增资或撤资并没有特定的批准要求。

第四节：税收及补助

1. 有没有一些税务结构或有利的中介税务管辖区，是对外商直接投资英国尤其有用的？

英国拥有世界上最大的避免双重征税条约和协议体系之一，这使英国成为一个对控股公司具有吸引力的国家，在设计外国直接投资交易的结构时提供了高度的灵活性。

英国制订了相对慷慨的规则，允许对利息减免税务，包括用于购买股权的贷款的利息以及股东债务的利息。因此在设计对英国投资的结构时一般都尽量利用英国的利息免税政策（即在考虑到转移定价问题及其他反避税规则的情况下，通过债务和股权的混合结构进行投资）。这样就需要考虑英国对利息的扣缴税问题；如果由于其他原因需要进行扣缴，则可以通过适用的避免双重征税条约来减轻税务。

2. 企业所得税和股息预提税的适用税率是多少？

英国政府已承诺使英国成为G20中最具税务竞争力的国度。为了实现这一雄心，英国对英国居民公司的利润征收的公司税的税率近年来一直在逐渐降低，截至2014年4月1日为21%。该税率预定在2015年4月1日降至20%。

英国一般不对股息或其他分派金额征收扣缴税，无论收款人身处何地。特定类型的投资基金（包括房地产投资信托、不动产授权投资基金和投资信托）作出的分派金额在某些情况下可能需要按20%的税率扣缴税，但可以依据适用的避免双重征税条约予以减轻。

3. 政府是否已设立外商直接投资税务优惠制度？

虽然英国政府并未制订任何具体适用于外国直接投资的税务激励方案，但英国政府承诺使英国对国际商务具有吸引力，其措施之一就是保持一个具有竞争力的税务制度。

英国国税部门也设有一个特别团队，专门通过提供书面裁定来说明对英国进行重大投资在税务方面的后果，以此来支持外国的对内投资。

英国制订了若干适用于所有纳税人的税务激励方案，包括研发费用免税制度以及对来源于有资格享受“专利盒”待遇的专利及其他特定知识产权的利润减税的“专利盒”制度。

4. 除了通过税务制度，政府还有向外商直接投资者提供其他财务支持吗？如有，请加以概述。

虽然英国政府并未提供任何特别适用于外国直接投资的补贴或其他非税务优惠，外国直接投资仍可以享有不同形式的补贴，包括：企业区 、 地区增长基金及商业投资补贴计划。

5. 您国家与中国之间有没有任何相互税务安排？如有，这些安排如何帮助投资者？

中国与英国之间订有一项有效的避免双重征税协议。两国在2011 年对该协议又再次进行了重大谈判，该协议现在大体上与经济协调和发展办公室编制的标准避免双重征税公约一致。

香港与英国之间也有一项自2010年起生效的避免双重征税协定。同样，该协议也大体上与经济协调和发展办公室的标准条约一致。

这两个条约都规定对利息款减少扣缴税。根据中英条约，对于向中国居民支付的源于英国的利息，扣缴税率从20%减至10%（如属特定的政府部门，则完全免税）。根据香港－英国条约，支付给香港居民的利息一般免征英国扣缴税。

第五节：外汇管制及本地经营

1.有什么外币或外汇限制是外国投资者需要注意的？

英国没有外币或外汇方面的限制规定。应当指出的是，英国确实制定有成熟的反洗钱和反贿赂制度，这些制度对国内投资者和国外投资者一视同仁，有助于提高投资者的透明度并减少腐败行为。

2. 引入外国员工有甚么法律限制？在操作上外商投资者为股东代表、高级经理和员工取得外国员工签证有多困难？

乔治奥斯本2013年在北京大学的演讲中（参见上面第一节2的回答）明确表示，对中国来英国的旅游者的人数没有限制，对中国与英国之间的贸易额没有限制，对中国来英国的留学生人数也没有限制。在这同一次贸易访问中，乔治奥斯本还宣布放宽中国人访英签证申请的规定。

虽然对中国游客的签证规定已经放宽，但对希望来英国生活和工作的中国人来说并没有特殊制度。这些人必须与所有其他不是欧洲经济区或瑞士的个人一样按同样方式申请移民许可。这一般需要英国雇主被登记为赞助人并支持申请人的签证申请。欧洲经济区内国家和瑞士的国民在英国工作则不需要工作许可证。

第六节：争议解决

1. 您国家是否有和中国或其他国家签订关于投资您国的双边投资保障条约？

英国与中国和香港都有签订双边投资保护条约。这些条约旨在为中国和香港来英国的或英国来中国和香港的投资者提供有利的条件并促进和保护其投资。对中国和香港来英国的投资者而言，他们可以享受的待遇包括：

• 其投资可以自由进入英国；

• 其投资与英国国民或任何其他国家国民享有同等待遇；

• 对与其投资有关的特定损失进行赔偿；

• 保护其投资不被征用；

• 可以自由地将其投资及投资回报汇出英国。

2. 当地法院的执法和争议解决程序的效率如何？有什么特别的程序是外商投资者需要注意的？

英国法是诸多国际交易喜欢采用的为数不多的准据法之一。英国法院在裁决商务争议方面经验丰富且具有合理的效率。

伦敦亦是受人偏爱的国际商业仲裁地之一。这归功于其作为一个中立和公正法域的声誉、英国法律作为准据法的普遍性及其所拥有的大量专业律师和仲裁员。

3. 当地法院尊重外国判决吗？可执行国际仲裁裁决吗？

在评估英国法院是否会执行外国法院判决时适用不同的规则，这取决于外国法院判决是在哪一个法域作出的。如果判决是在其他地方（即在与英国没有订立相互执行判决的双边或多边协议的国家，例如中国和香港）作出的，其可执行性将受英国普通法的管辖。根据英国普通法，如想外国法院判决获得执行，该判决必须是一个有确定金额的由宣布该判决的法院作出的最终和决定性的经济判决，并且必须是由一个被英国法律视为具有管辖权的法院作出的。而且，根据普通法，该判决不能简单地在英国进行登记，而是必须在英国重新