Business - To establish a special purpose company, should we go to the Beijing Municipal Commission of Development and Reform to get approval or not?
A: The Interim Implementation Measures of Beijing Municipality for the Examination and Approval of Overseas Investment Projects (No. 2667  of the Beijing Municipal Commission of Development and Reform) is practiced with all legal persons (hereinafter the investment entity) registered with the Beijing Administrative Division. This includes their overseas holding companies or organizations. Investments in overseas countries and regions (including new establishments, mergers, joint stock, capital increase and re-investment) must seek the approval of the Beijing Municipal Commission of Development and Reform first, and then begin to process the other procedures in the business department and foreign exchange management department.
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