Recently, the Department of Commerce and Department of Finance of Guangdong Province jointly released the Implementation Plan for Guangdong Province to Enhance the Attraction and Utilization of Foreign Investment, which offering rewards to qualified foreign invested enterprises. The implementation period is from 2023 to 2027. The main contents of the implementation plan are as follows:

1. Applicable Enterprises
   
   Foreign invested enterprises (including Hong Kong and Macao joint ventures) established and registered in the cities within Guangdong Province, except for financial and real estate enterprises.
   
   
2. Reward Items
   
   

   2.1

   Reward for Foreign Investment 2.1.1 For foreign invested enterprises established in Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, with an annual total actual paid in foreign investment amount of USD50 million or above: (1) High-tech Manufacturing Enterprises: eligible for rewards of up to 3% of the total actual paid in foreign investment amount. (2) Other Manufacturing Enterprises and High-tech Service Enterprises: eligible for rewards of up to 2% of the total actual paid in foreign investment amount. (3) Other Enterprises: eligible for rewards of up to 1% of the total actual paid in foreign investment amount. 2.1.2 For foreign invested enterprises established in Shantou, Shaoguan, Heyuan, Meizhou, Huizhou, Shanwei, Jiangmen, Yangjiang, Zhanjiang, Maoming, Zhaoqing, Qingyuan, Chaozhou, Jieyang, Yunfu, with an annual total actual paid in foreign investment amount of USD10 million or above: (1) High-tech Manufacturing Enterprises: eligible for rewards of up to 3% of the total actual paid in foreign investment amount. (2) Other Manufacturing Enterprises and High-tech Service Enterprises: eligible for rewards of up to 2% of the total actual paid in foreign investment amount. (3) Other Enterprises: eligible for rewards of up to 1% of the total actual paid in foreign investment amount. 2.1.3 Reward Limit: (1) For a single high-tech manufacturing enterprise or other manufacturing enterprise: the maximum annual reward is RMB50 million, with a cumulative maximum of RMB150 million during the implementation period. (2) For a single high-tech service enterprise or other enterprise: the maximum annual reward is RMB20 million, with a cumulative maximum of RMB80 million during the implementation period.

   2.2

   Reward for Headquarters of Foreign Multinational Companies Each regional headquarters of a foreign multinational company recognized by Guangdong Province is eligible for a one-off reward of RMB5 million. The regional headquarters shall meet the following conditions: (1) Registered in Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, with an annual total actual paid in foreign investment amount of USD10 million or above. (2) Registered in Shantou, Shaoguan, Heyuan, Meizhou, Huizhou, Shanwei, Jiangmen, Yangjiang, Zhanjiang, Maoming, Zhaoqing, Qingyuan, Chaozhou, Jieyang, Yunfu, with an annual total actual paid in foreign investment amount of USD5 million or above

KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.