14 March 2024
On 14 March 2024, the Commerce Bureau of Shenzhen Municipality forwarded the “Notice of the Investment Promotion Bureau of Shenzhen Municipality on Facilitating the 7th Batch of Multinational Headquarters Enterprises Recognition in Shenzhen Municipality” (“the Notice”). According to the Notice, the headquarters enterprises of a multinational corporation refer to regional headquarters, headquarters organisations and business headquarters established by multinational corporations. The regional headquarters of a multinational corporation are the general office that is set up in Shenzhen Municipality by an overseas parent company or a domestically registered foreign-invested company and authorized by the overseas parent company or the foreign-invested company having the role of a parent company. The regional headquarters will have the capacity to carry out management and service functions within a specific area. To be eligible for recognition as a regional headquarters, applicants must be a foreign-invested enterprise with independent legal person status and a minimum paid-in capital of USD 2 million. The parent company of the applicant should have total assets of at least USD 100 million. The recognition applications for regional headquarters will be processed in March and August of every year.