Article 1: To further implement the "Opinions of the State Council on Further Improving the Utilization of Foreign Investment" (State Council Document [2019] No. 23), the "Several Measures of Shenzhen Municipality on Further Expanding the Scale and Improving the Quality of Foreign Investment Utilization (Revised Edition)" (Shenzhen Municipal Government Letter [2019] No. 63),the "Several Measures on Coordinating the Prevention and Control of the Epidemic with Economic and Social Development" (Shen Fa [2020] No. 4), to encourage and attract more multinational corporations to establish regional headquarters and institutions with headquarters functions in Shenzhen, and to actively participate in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Pilot Demonstration Zone of Socialism with Chinese Characteristics, these Measures are formulated in accordance with relevant policy documents and in light of the actual conditions of this city.
Article 2 For the purposes of these Measures, “multinational company headquarters enterprises” refer to regional headquarters and institutions with headquarters functions established by multinational companies.
A regional headquarters of a multinational corporation (hereinafter referred to as a “regional headquarters”) refers to the sole head office established in this city by a parent company registered overseas, which performs management and service functions for enterprises within one or more countries (or regions) through investment or authorization. Multinational corporations must establish regional headquarters in this city in the form of enterprises with independent legal personality, such as foreign-invested investment companies or management companies.
An institution with headquarters functions of a multinational company (hereinafter referred to as an “institution with headquarters functions”) refers to a foreign-invested enterprise (including branches) that does not meet the criteria for a regional headquarters of a multinational company but actually undertakes functions such as expansion, R&D, sales, trade, settlement, and data management for the overseas parent company within a region covering one or more countries (or regions).
Regional headquarters and institutions with headquarters functions do not include the real estate, financial, and quasi-financial sectors; the recognition of headquarters in these sectors shall be carried out in accordance with relevant industry policies.
Article 3: Eligible multinational companies from Hong Kong, Macao, and Taiwan that establish headquarters enterprises in this city shall comply with these Measures.
Article 4: Applicants for regional headquarters status must meet the following conditions:
(1) Meet the definition of a multinational company regional headquarters as set forth in Article 2.
(2) The applicant enterprise must possess independent legal person status and be registered within Shenzhen (including the Shenzhen-Shanwei Special Cooperation Zone; hereinafter the same), with paid-in registered capital of no less than US$2 million.
(3) The applicant enterprise must be authorized to manage no fewer than two independent legal entities, both domestic and overseas, at least one of which must be registered within Shenzhen.
(4) The total assets of the overseas parent company shall not be less than US$200 million. For enterprises in the service sector establishing a regional headquarters, the total assets of the parent company shall not be less than US$100 million.
Article 5: Entities applying for recognition as institutions with headquarters functions must meet the following conditions:
(1) Meet the definition of an institution with headquarters functions for multinational companies as specified in Article 2.
(2) Be a foreign-invested enterprise or its branch with independent legal person status, registered within Shenzhen, with paid-in registered capital of no less than US$1 million. If established as a branch, the operating funds allocated by the parent company shall be no less than US$1 million.
(3) The parent company’s total assets must be no less than US$100 million.
(4) Be authorized by the parent company to perform headquarters functions—including R&D, sales, trade, settlement, and data management—across one or more countries (or regions).
Article 6: To apply for recognition as a multinational corporate headquarters enterprise, the following materials shall be submitted to the certifying authority:
(1) An application letter signed by the legal representative of the applicant enterprise.
(2) An authorization document signed by the parent company’s authorized signatory, outlining the basic functions of the multinational company’s regional headquarters or the institution performing headquarters functions.
(3) A copy of the applicant enterprise’s business license. If the entity performing headquarters functions is a branch, a copy of the Shenzhen branch’s business license and proof of operational funds allocated by the parent company must also be provided.
(4) The parent company’s audited financial report for the most recent fiscal year.
(5) Business licenses or registration certificates (copies) of the domestic and foreign enterprises authorized to be managed.
(6) Declaration of Commitment.
Where the preceding provisions do not specify that a copy is required, the original document must be provided.
Article 7 The authorities responsible for the recognition of multinational corporate headquarters enterprises are the municipal commerce department, the commerce departments of each district (new area), the Qianhai Administration Bureau, and the commerce department of the Shenzhen-Shanwei Special Cooperation Zone.
The commerce departments of each district (new area), the Qianhai Administration, and the Shenzhen-Shanwei Special Cooperation Zone shall complete the preliminary review within 8 working days from the date of receipt of the application and other materials. Materials for enterprises that pass the preliminary review shall be submitted to the municipal commerce department, which shall complete the re-examination within 8 working days from the date of receipt of the application and other materials and make a decision to grant or deny recognition. If recognition is granted, a certificate of recognition shall be issued.
Article 8 The Municipal Commerce Department, the commerce departments of each district (new area), the Qianhai Administration Bureau, and the commerce department of the Shenzhen-Shanwei Special Cooperation Zone shall be responsible for coordinating the management and service work related to multinational corporate headquarters enterprises.
Departments such as market regulation, finance, taxation, customs, foreign exchange, foreign affairs, immigration, and human resources and social security shall, within the scope of their respective responsibilities, carry out management and service duties and provide administrative conveniences.
Article 9: Enterprises applying for recognition as multinational corporate headquarters must, throughout the entire process of applying for and implementing relevant policies, commit to the authenticity, legality, and compliance of the submitted materials, and must actively cooperate with and accept evaluations, supervision, and audits conducted by relevant departments regarding this matter.
Article 10: Recognized multinational corporate headquarters shall receive tiered incentives based on the actual amount of foreign capital utilized in the year of establishment or capital increase: for amounts between USD 20 million and USD 30 million, a reward of RMB 3 million shall be granted; for amounts between USD 30 million and USD 50 million, a reward of RMB 5 million shall be granted; and for amounts exceeding USD 50 million, a reward of RMB 6 million shall be granted.
After the actual amount of foreign capital used in the year of establishment or capital increase has been fully received, recognized multinational corporate headquarters enterprises must apply for the reward in the following year as required. Financial support shall be provided to eligible multinational corporate headquarters enterprises in accordance with the principle of ex-post rewards. The same enterprise may not receive the above rewards more than once in the same year, and the aforementioned rewards may not be enjoyed concurrently with other municipal preferential support policies of the same type.
Article 11 The certification authority for multinational corporate headquarters shall establish a dynamic adjustment mechanism to dynamically update the city’s directory of multinational corporate headquarters, remove enterprises that no longer meet the criteria from the directory, and ensure proper service provision and supervision of headquarters enterprises.
Article 12: Upon being recognized as high-tech enterprises, multinational corporate headquarters may enjoy preferential policies for high-tech enterprises in accordance with relevant regulations.
Article 13: Multinational corporate headquarters are encouraged to establish a unified internal fund management system to centrally manage their own funds. Support is provided for such enterprises to conduct various cross-border RMB and foreign exchange operations in accordance with China’s published policies on cross-border RMB and foreign exchange management.
Multinational corporate headquarters are encouraged to conduct various cross-border RMB business operations based on their own operational and management needs. Eligible regional headquarters and headquarters institutions may conduct cross-border two-way RMB cash pooling and centralized collection and payment of cross-border RMB under the current account to achieve centralized fund management for the group and improve the efficiency of fund utilization.
Eligible multinational corporate headquarters may, in accordance with regulations such as the State Administration of Foreign Exchange’s “Provisions on the Centralized Operation and Management of Cross-border Funds of Multinational Corporations” (Hui Fa [2019] No. 7), conduct business activities including centralized management of funds for domestic and overseas member enterprises, centralized foreign debt quotas, centralized overseas lending quotas, centralized collection and payment of current account funds, and net settlement of balances.
Investment companies may establish financial companies in accordance with the "Administrative Measures for Enterprise Group Financial Companies" to provide centralized financial management services to their investment enterprises within China.
Strengthen tax guidance and services for multinational corporate headquarters to ensure the smooth execution of genuine and lawful remittances under trade in services, and facilitate non-trade remittances for such enterprises.
Headquarters of multinational companies established within the Shenzhen Qianhai-Shekou Area of the Guangdong Pilot Free Trade Zone may open free trade accounts in accordance with regulations and, based on the principle of convertibility, handle cross-border receipts and payments in both domestic and foreign currencies as well as domestic RMB receipts and payments.
Coordinate and guide financial institutions to increase support for multinational corporate headquarters, effectively enhancing the level of financial services for foreign-invested enterprises.
Article 14: For mainland Chinese residents employed by multinational corporate headquarters, business-related travel to Hong Kong, Macao, Taiwan, and other countries shall be facilitated in accordance with relevant regulations.
Foreign nationals hired or invited by multinational corporate headquarters shall be provided with entry, exit, and residence conveniences in accordance with relevant regulations.Foreign nationals working at multinational corporate headquarters may apply for work-type residence permits valid for up to five years; foreign nationals invited by multinational corporate headquarters or entering the country for urgent business purposes may apply for a port visa at port visa authorities in accordance with regulations, and may apply for a multiple-entry visa or residence permit valid for up to five years after entry by submitting relevant supporting documents.
For senior foreign executives working long-term at multinational corporate headquarters, their family members shall be granted procedural conveniences regarding entry and exit, residence, and children’s school enrollment in accordance with relevant regulations. Foreign nationals hired by multinational corporate headquarters who hold work-type residence permits valid for more than three years may apply for their children’s school enrollment (or daycare) at their place of residence.
Foreign high-level talents employed by multinational corporate headquarters may apply for a work permit for foreigners within the country in accordance with relevant regulations.
Article 15: Senior Chinese technical professionals and senior managers recruited from other cities by the R&D institutions affiliated with multinational corporate headquarters may complete transfer procedures in accordance with the relevant regulations of this city.
Article 16: Multinational corporate headquarters that provide key skills training and evaluation services to their employees may enjoy corresponding policy support from local governments in accordance with regulations.
Article 17: Customs authorities shall provide clearance facilitation for the import and export goods of eligible multinational corporate headquarters.
Article 18: For eligible multinational corporate headquarters that establish bonded logistics centers and distribution centers to integrate logistics operations, customs, foreign exchange, and other relevant departments shall implement facilitative regulatory measures in accordance with the law.
Article 19: Multinational companies that have already established regional headquarters or institutions with headquarters functions are encouraged to continue establishing additional such entities in accordance with these Measures.
Article 20 The Municipal Bureau of Commerce shall be responsible for interpreting these Measures.
Article 21 These Measures shall take effect on March 1, 2021, and shall remain valid for five years.
