China SAFE Circular 78 FIling for Employee Stock Plans
Brochure
What is it?
Circular 78 issued by the Central Bank and State Administration of Foreign Exchange ("SAFE") requires non Chinese public companies to obtain exchange control approval to offer a stock option or other equity plan to Chinese national employees. All funds transferred into or out of China in connection with the equity plan must be funneled through a dedicated company bank account in China and may no longer sit off-shore in a bank or brokerage account.
How Can Baker & McKenzie Assist You?
We know how to help you get your SAFE approval completed. To date, Global Equity Services attorneys have assisted more than 23 companies to obtain SAFE approval for their equity plans. In addition, we have 3 filings submitted to SAFE officials that are pending approval. We also have over 35 clients who are in the process of preparing SAFE applications.