The registered capital for establishing a foreign-invested leasing company shall comply with the Company Law Of the People’s Republic Of China and regulations relating to the proportion of registered capital and total investment. Generally the foreign-invested leasing company (in the form of limited liability company) shall have a business duration not longer than 30 years.

The foreign-invested leasing company approved can deal with the following business:

1. leasing business;

2. Purchasing property home and abroad for leasing;

3. Dealing with the residual value Of the leased property and maintain the said property;

4. Other business approved by examination and approval authorities.

5. to establish a foreign invested leasing company in the form of limited liability,

Firstly, the Chinese partner or foreign partner’s undertaker shall apply to administration for industry and commerce for a pre-approval of enterprise name and obtain notification of pre-approval enterprise name. Then the applicant shall submit to Shanghai Foreign Investment Commission the following documents:

1. Written application;

2. Feasibility study report signed by all investors;

3. Contract and articles of association (for wholly foreign-invested enterprise, articles of association only)

4. financial and credit status certificates, registration certificates (copy), ID certifications of legal representatives (copy) of all the investors;

5. Audit reports (for the most recent year) of all the investors audited by accounting firms;

6. Name list of members of board of directors and letters of senior managing personnel;

7. Qualifications and service record of senior managing personnel;

8. Notification of pre-approval of enterprise name issued by administration for industry and commerce;

9. other documents as per relevant regulations for a company limited by shares;

10. Other documents required by examination and approval authorities

Within 40 working days upon receipt of all application documents, Shanghai Foreign Investment Commission shall decide to approve or not. For the approved, the commission shall issue the approval certificate for the foreign invested enterprises; otherwise, a written explication shall be given.

Within 30 working days upon receipt of the approval certificate, the foreign-invested leasing company shall apply to administration for industry and commerce for registration.