China (CN)

Jurisdiction Overview

IDQuestionAnswer
470 *LO Record: Does the registration of domestic companies comprise legal owner's identity information? All LO: Yes, all companies require recording of all legal owners.
 Data Date: 2019

Notes

 
The Global Forum reports: "Companies incorporated under the Company Law (including both DIEs and FIEs) are obliged to register with the SAIC [State Administration for Industry and Commerce] before carrying out business activities in China. A company is not considered formally established in China until it obtains SAIC approval in the form of a business registration certificate (business license). [...] Registration for limited liability companies (including FIEs) is completed by registering inter alia the following information with the SAIC [...] identification document of members (such as identity card or passport); [...] Registration for joint stock companies is completed by registering inter alia the following information with the SAIC authorities: identification document of initiators (such as identity card or passport)" (GF 2013: 28-29). In 2018, the FTAF reported: "For LLC [limited liability companies] and JSLCs [joint-stock limited companies], Company Law, Arts. 25, 32, 81, 96, and 130 provide that companies need to record the names of all shareholders and their domicile and the amount of capital contribution [...]. Changes to registered information (as listed above) need to be submitted to the SAMR [Regulation of the Administration of Company Registration] within 30 days of the (decision to) change, or annually" (FATF 2019: 228).

Sources

GF 2013: 28-29
 
FATF 2019: 228