On 18th Oct 2016, the State Administration for Industry and Commerce (hereinafter referred as SAIC) issued the work instruction to the local AIC for open the company name database to the public. Shanghai Dongjin is concluding some points on this reformation.
To open the company name database is one action for the purpose of streamlining administration and delegating power. Under the current system, the applicant is hard to check whether their proposed name is similar with other existing companies and hard to be approved. The name rejection is always to be obtained after five working days since the application date and it is really a waste of time. With the growth of new companies, it pushes the government to make the improvement on the application method.
The SAIC points out the following range for company name databases.
- The company name for the existing company;
- The former company name which is changed no more than one year;
- The name of the company which was not formally made the deregistration formalities but its registration was cancelled or its business license was revoked;
- The name of the company which has been formally deregistered for less than three year because its registration was cancelled or its business license was revoked and the name of the company which has been formally deregistered for less than one year for other reasons;
- The company name was applied but has not been approved;
- The company name was approved and valid but the company has not been registered;and
- Other kind of company name to be open;
It is also pointed out by the SAIC that the deadline for local AIC to open the company name database is 1st Dec 2016. Since then, the company can make the company name application online.
- The WOFE used to spend much time to apply for its new company name. Since this name database is open to the public, the company can check the name online and pick up the valid name for application. The improvement on the effectiveness of the government will also bring the satisfactory from the foreign investors.
- However, we still need to remind the foreign investor that even if the name is found valid for application, he/she should also take care of the restriction in the laws and regulations. For example, it is similar or same with the local famous company, big 500 companies, famous trademark or the cities or country name in China or abroad.
If you have any questions, please send the email to me.
Ms. Jojo Hu
TEL: 0086-21-68868335 ext 324 / FAX: 0086-21-68868021