After completing the Overseas Investment Filing (ODI), enterprises need to comply with a series of subsequent regulatory requirements, mainly including:
1. Registration and Reporting: Enterprises need to register and report to the Provincial Department of Commerce and Chinese overseas business institutions, and complete relevant registration with banks to obtain business registration certificates.
2. Regular report: Enterprises need to regularly submit monthly statistical reports to the unified platform of the Ministry of Commerce’s business system, reporting on overseas investment business situation, statistical data, as well as difficulties and problems related to overseas investment, and ensuring that the submitted situation and data are true and accurate.
3. Fund remittance filing: Prior to fund remittance, enterprises need to file a remittance filing with the State Administration of Foreign Exchange and provide detailed information on the flow of overseas investment funds to ensure that foreign exchange funds are used for approved projects.
4. Legitimacy and Compliance Review: The State Administration of Foreign Exchange will conduct a legality and compliance review of a company’s fund remittance plan to ensure that the remitted funds will not be used for illegal purposes.
5. Comply with local laws and regulations: Enterprises should require their invested overseas enterprises to comply with the laws and regulations of the investment destination, respect local customs and habits, fulfill social responsibilities, and do a good job in environmental protection, labor protection, corporate culture construction, etc.
6. Risk management and security assurance: Enterprises should establish a risk management system, conduct comprehensive risk assessments of overseas investment projects, and develop corresponding risk response measures. At the same time, enterprises should implement personnel and property safety precautions, establish emergency warning mechanisms and contingency plans.
7. Information Disclosure and Compliance with International Rules: Enterprises should disclose necessary investment information to the outside world in accordance with relevant laws and regulations, ensure transparency of information, and comply with international rules and multilateral and bilateral agreements.
8. Accept supervision and liability for violations: Enterprises should accept supervision and inspection by the National Development and Reform Commission and relevant departments, and cooperate in providing necessary documents and information. If you violate the regulations, you will face corresponding legal responsibilities.
These regulatory requirements aim to ensure that the overseas investment activities of enterprises are legal, compliant, and orderly, and to protect national interests and security. Enterprises must fully recognize their legal responsibilities, establish sound internal management systems, enhance compliance awareness, and strengthen risk management.
