Opinions on Promoting the Development of the Equity Investment Fund Industry

关于促进股权投资基金业发展的意见

 

Promulgating Institution: Financial Service Steering Team Office of Beijing Municipality; Financial Bureau of Beijing Municipality; State Tax Bureau of Beijing Municipality;Local Tax Bureau of Beijing Municipality; Bejing Administration for Industry and Commerce

Document Number: Jing Jin Rong Ban [2009] No.5

Promulgating Date: 01/19/2009

Effective Date: 01/19/2009

 

颁布机关: 北京市金融服务工作领导小组办公室; 北京市财政局; 北京市国家税务局; 北京市地方税务局; 北京市工商行政管理局

文      号: 京金融办[2009]5号

颁布时间: 01/19/2009

实施时间: 01/19/2009

 

With a view to expanding domestic demand, promoting the sound and fast development of the economy, supporting the development of the city’s equity investment fund industry, promoting technological and financial innovation, increasing the proportion of direct financing, constructing a multi-level capital market, optimizing resource allocation, and accelerating economic restructuring and industry upgrading, in accordance with the Opinions of the CPC Beijing Municipal Committee and the Beijing Municipal People’s Government on Promoting the Development of the Capital Financial Industry (Jing Fa [2008] No. 8), these Opinions are hereby issued.

   为扩大内需，促进经济又好又快发展，支持本市股权投资基金业发展，推动科技金融创新，提高直接融资比重，建设多层次资本市场，优化资源配置，加快经济结构调整和产业升级，按照《中共北京市委北京市人民政府关于促进首都金融业发展的意见》（京发[2008]8号）的要求，提出促进本市股权投资基金业发展的意见。

1. Applicable Targets

These Opinions shall be applicable to the domestic-invested and foreign-invested equity investment funds and equity investment fund management enterprises that are registered in Beijing.

“Equity investment funds” (also known as “PE”, hereinafter referred to as “equity funds”) refer to the non-securities investment funds privately raised from specific targets to make equity investments in and offering value-added services to unlisted companies.

Equity funds may, in accordance with law, adopt enterprise organization forms such as corporation and partnership.

“Equity fund management enterprises” (hereinafter referred as “management enterprises” refer to the enterprises managing and operating equity investment funds.

Management enterprises may, in accordance with law, adopt enterprise organization forms such as corporation and partnership.

       一、适用对象

    本意见适用于在本市注册的内资、外资股权投资基金和股权投资基金管理企业。

    “股权投资基金”(以下简称“股权基金”,又称PE)是指以非公开方式向特定对象募集设立的对非上市企业进行股权投资并提供增值服务的非证券类投资基金。股权基金可以依法采取公司制、合伙制等企业组织形式。

    “股权投资管理企业”(以下简称“管理企业”)是指管理运作股权基金的企业。管理企业可以依法采取公司制、合伙制等企业组织形式。

2. Convenience shall be give to equity funds or management enterprises in their industrial and commercial registration, and those meeting the conditions may use “fund” or “investment fund” in enterprise names.

       二、对股权基金或管理企业给予工商注册登记的便利,符合条件的股权基金或管理企业可在企业名称中使用“基金”或“投资基金”。

3. Partnership equity funds and partnership management enterprises shall not act as income tax payers, and partners shall pay individual income tax or enterprise income tax respectively by following “allocation before tax payment”.

Partnership equity funds and partnership management enterprises shall withhold and remit the individual income tax payable by their partners.

For personal income distributed by legal entities, the individual income tax thereof shall be withheld and remitted by the entities.

       三、合伙制股权基金和合伙制管理企业不作为所得税纳税主体,采取“先分后税”方式,由合伙人分别缴纳个人所得税或企业所得税。

    合伙制股权基金和合伙制管理企业的合伙人应缴纳的个人所得税,由合伙制股权基金和合伙制管理企业代扣代缴。其中通过法人单位分得的个人所得,由该单位负责代扣代缴个人所得税。

4. For income of individual partners in partnership equity funds, the individual income tax shall be paid at the rate of 20% on the basis of the item “income from interests, dividends and bonuses” or “income from property transfer”.

       四、合伙制股权基金中个人合伙人取得的收益,按照“利息、股息、红利所得”或者“财产转让所得”项目征收个人所得税,税率为20%。

5. The dividends, bonuses and other investment income acquired by partnership equity funds from invested enterprises shall be the income after the payment of enterprise income tax, and the income may, under the partnership agreement, be directly distributed to legal person partners, and their enterprise income tax shall be subject to the relevant policies.

       五、合伙制股权基金从被投资企业获得的股息、红利等投资性收益,属于已缴纳企业所得税的税后收益,该收益可按照合伙协议约定直接分配给法人合伙人,其企业所得税按有关政策执行。

6. Where the behavior of a general partner of partnership equity funds meets any of the following conditions, the partner shall be exempt from business tax.

(1) Making investment with intangible assets or immoveable property, participating in and accepting investor profit distribution, and jointly assuming investment risk; and

(2) Equity transfer.

       六、合伙制股权基金的普通合伙人,其行为符合下列条件之一的,不征收营业税:

    (一)以无形资产、不动产投资入股,参与接受投资方利润分配,共同承担投资风险;

    (二)股权转让。

7. Partnership enterprises that are established with joint investments from the internal personnel of a management enterprise and have the joint investment relationship with the equity funds managed by the enterprise may enjoy the relevant tax policies specified herein.

       七、管理企业内部人员共同出资设立的,与所管理股权基金形成共同投资关系的合伙制企业,享受本意见有关税收政策。

8. Equity funds or management enterprises engaged in venture capital business shall be encouraged or supported to go through record-filing in accordance with the Interim Measures for Administration of Venture Capital Enterprises (Order No. 39 of the National Development and Reform Commission and other nine ministries and commissions) and to enjoy the national preferential tax policies in accordance with Article 31 of the Enterprise Income Tax Law and Article 97 of the Regulations for the Implementation of the Enterprise Income Tax Law.

       八、鼓励和支持从事创业投资业务的股权基金或管理企业按照《创业投资企业管理暂行办法》(国家发展改革委等十部委第39号令)进行备案,并按照《企业所得税法》第三十一条和《企业所得税法实施条例》第九十七条的规定享受国家税收优惠政策支持。

9. The management enterprises of industrial investment funds that are established with the approval of the State Council or competent department of the State and registered in Beijing, as well as those meeting the following conditions may, by reference to financial enterprises, enjoy the policy support specified in the Opinions on Promoting the Development of the Capital Financial Industry (Jing Fa Gai [2005] No. 197) and the Rules for the Implementation of the Opinions on Promoting the Development of the Capital Financial Industry (Jing Fa Gai [2005] No. 2736).

(1) The enterprises shall be registered in Beijing;

(2) The equity funds initiated by the enterprises shall be registered in Beijing and meet the relevant regulations of the State, and their cumulative paid-up capital shall be more than RMB 500 million each; and

(3) The enterprises’ investment fields shall accord with the industrial policies of the State and Beijing municipality.

       九、经国务院或国家主管部门批准设立并在本市注册登记的产业投资基金的管理企业,及符合下列条件的管理企业,参照金融企业,享受《关于促进首都金融产业发展的意见》(京发改[2005]197号)和《关于促进首都金融产业发展的意见实施细则》(京发改[2005]2736号)的政策支持:

    (一)在本市注册登记;

    (二)其所发起设立的股权基金在本市注册登记,符合国家有关规定,且累计实收资本在5亿元以上;

    (三)投资领域符合国家和本市产业政策。

10. For a corporate management enterprise meeting the conditions specified in Article 9, the government of the district or county where the enterprise is located shall, as of the year when the enterprise makes profit, reward the enterprise fully with the actually received part of the enterprise income tax paid by the enterprise in the first two years, and reward the enterprise by half for the next three years.

       十、对符合第九条所列条件的公司制管理企业,自其获利年度起,由所在区县政府前两年按其所缴企业所得税区县实得部分全额奖励,后三年减半奖励。

11. Rewards given by the municipal government to the relevant personnel of equity funds or management enterprises shall be exempt from individual income tax in accordance with law.

       十一、市政府给予股权基金或管理企业有关人员的奖励,依法免征个人所得税。

12. The pattern of using government funds shall be further reformed and innovated, the market-based asset management mode and operation mechanism shall be introduced, city-level equity investment funds shall be established, and social capital shall be supported and guided in investing in equity funds.

Districts and counties where the conditions permit shall be encouraged to establish local equity funds.

Enterprise annuities and local social security funds shall be encouraged to invest in the equity funds registered and established in Beijing in accordance with the relevant regulations.

       十二、进一步改革创新政府资金使用模式,引入市场化的资产管理模式和运作机制,建立市级股权投资基金,扶持和引导社会资本投资股权基金。鼓励有条件的区县建立本区县股权投资基金。支持企业年金、地方社保基金按照有关规定投资在本市注册设立的股权基金。

13. Unlisted enterprises with state-owned shares may initiate partnership equity investment funds or partnership management enterprises as general partners.

       十三、国有参股的非上市企业,可作为普通合伙人发起设立合伙制股权基金或合伙制管理企业。

14. Commercial banks shall be encouraged to carry out the equity investment fund custody business and the merger & acquisition loan business in Beijing, and be supported in investing in equity funds in the way of trust in accordance with laws and regulations.

Financial institutions, such as securities companies, insurance companies, trust companies and financial companies, shall, in accordance with laws and regulations, be encouraged to invest in or establish equity funds or direct investment companies.

All relevant departments of Beijing shall offer proper government services in terms of registration, talent introduction and business place selection, etc., and give corresponding policy support.

       十四、鼓励商业银行在本市开展股权投资基金托管业务和并购贷款业务,支持其依法依规以信托方式投资于股权基金。鼓励证券公司、保险公司、信托公司、财务公司等金融机构在本市依法依规投资或设立股权基金和直接投资公司。本市各有关部门要在注册登记、人才引进、经营场所选定等方面做好政府服务工作,并给予相应的政策支持。

15. PE center buildings shall be constructed on financial street, districts and counties where the conditions permit shall be encouraged to construct PE buildings to attract and agglomerate equity funds and management enterprises to settle in Beijing, and housing purchase and rent subsidies shall be granted by reference to financial enterprises.

All districts, counties and relevant departments shall create favorable environment and offer corresponding support for the agglomeration development of equity funds and management enterprises in terms of business place and government services.

       十五、在金融街建设PE中心大厦,鼓励有条件的区县建设PE大厦,吸引和聚集本市股权基金及管理企业入驻发展,在购租房补贴上,参照金融企业给予支持。各区县和有关部门要在办公场所、政府服务等方面为股权基金及管理企业的聚集发展营造良好环境,提供相应支持。

16. Equity funds registered in Beijing shall be supported to share the government database information of backup listed enterprises for free.

The outstanding backup listed enterprises in Beijing shall be recommended to the equity funds registered in Beijing on priority basis.

The enterprises in Beijing investing in equity funds shall be preferentially included in the city’s plan for cultivating backup listed enterprises, and be supported in being listed on domestic and overseas capital markets.

       十六、支持在京注册的股权基金免费分享政府上市后备企业数据库信息。本市优秀上市后备企业优先推荐给在京注册的股权基金。对股权基金投资的本市企业,优先列入本市上市后备企业培育计划,支持其在国内外资本市场上市。

17. Equity funds and their invested high-tech enterprises shall be supported in being listed through the Zhongguancun agency share transfer system.

       十七、支持股权基金及其所投资的高新技术企业在中关村代办股份转让系统挂牌。

18. Strong support shall be offered to Beijing Private Equity Association (BPEA) in terms of office premises and other matters, proper government services shall be ensured and its function of industry self-discipline shall be strengthened.

The BPEA Service Center shall offer the high-efficiency and convenient “one-stop” services to equity funds and management enterprises.

Support shall be given to the establishment and development of China Private Equity Association in Beijing.

       十八、对北京股权投资基金协会在办公场所等方面给予大力支持,做好政府服务,强化其行业自律职能。北京股权投资基金协会下设股权投资基金服务中心为股权基金及管理企业提供高效便捷的“一站式”服务。支持中国股权投资基金协会在北京的设立和发展。

19. These Opinions shall come into effect as of the date of promulgation.

Any problem arising from the implementation shall be interpreted by the municipal financial office in consultation with the relevant departments of the municipal government.

       十九、本意见自发布之日起实施。实施过程中遇到的问题,由市金融办会同市政府有关部门负责解释。