Obtaining and Maintaining SAFE Approval for Employee Equity Programs in China
Webinar
27 July 2010
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In January 2010, we reported on recent developments and successes regarding the requirement that US public companies offering employee stock programs to Chinese national employees first obtain an approval from the State Administration of Foreign Exchange ("SAFE"). Since that time we have obtained many more SAFE approvals for US issuers (we have 25 clients with approvals) and have had the experience of making these filings with SAFE officials in different locations (other than Shanghai and Beijing). We thought it would be good to update our clients and friends as to the latest developments in obtaining SAFE approval and on what to expect in terms of the ongoing compliance requirements after the approval is obtained.
This webinar will cover the following topics:
- Update on SAFE filing requirements/process
- Developments in Provincial SAFE requirements, including Shenzhen/Guangdong and Zhejiang
- Tips on filing SAFE applications
- Update on mechanics of repatriation requirements and conversion of currency requirements/timing
- Practical advice on managing risks in China prior to receiving SAFE approval
- Ongoing requirements once SAFE approval is in place and guidance on how to manage the process
- Market information on what US multinational companies are doing with respect to SAFE approval/award types for employees in China