After completing the ODI filing, the enterprise needs to comply with a series of subsequent maintenance and reporting requirements, including:
1. Certificate validity period management: The validity period of ODI filing certificates is usually 2 years. If there is no actual investment within 2 years, the certificate will automatically expire and become invalid.
2. Foreign exchange filing: After completing the ODI filing, it is necessary to apply to the foreign exchange management department for the opening of foreign exchange filing before remittance can be made overseas.
3. Overseas reporting registration: Enterprises that actually invest and operate need to go to the local embassy overseas for reporting registration.
4. Regular report maintenance: Enterprises need to apply for maintenance of monthly, semi annual, and annual reports.
5. Information change reporting: Domestic company name changes and other changes require synchronous application for changes in overseas investment filing certificates, otherwise it will affect subsequent operations.
6. Registration for Registration: Enterprises need to register for registration at the Provincial Business Administration and the China International Business Administration.
7. Bank registration: Enterprises need to register with banks and obtain business registration certificates.
8. Monthly report for fund remittance in the following month: Enterprises need to submit a statistical monthly report on the unified platform of the Ministry of Commerce’s business system in the following month of investment fund remittance.
9. Complete the report in the National Development and Reform Commission system: Enterprises need to complete the report in the National Development and Reform Commission system.
10. Half year report and annual report of the Ministry of Commerce system: Enterprises need to fill in the half year report and annual report in the Ministry of Commerce system.
11. Stock equity registration in the State Administration of Foreign Exchange system: Enterprises need to register their stock equity in the State Administration of Foreign Exchange system.
12. Compliance construction report: Investment enterprises need to report to the Ministry of Commerce every six months on the compliance construction situation of overseas enterprises and the investment obstacles encountered by overseas enterprises.
13. Asset situation report: Overseas enterprises with an investment amount of over 100 million US dollars and actual control by the Chinese side are required to report their asset situation every six months.
14. Major operating loss report: Attention should be paid to major operating losses and other situations, otherwise there is a risk of being subject to major inspections.
After completing the ODI filing, enterprises must strictly comply with the above maintenance and reporting requirements to ensure compliant operations and avoid possible legal risks.
