Measures of Tianjin Municipality on Boosting the Development of Equity Investment Fund Industry

天津市促进股权投资基金业发展办法

Promulgating Institution: Tianjin Finance Bureau; Tianjin Local Taxation Bureau

Document Number: Jin Zheng Fa [2009] No. 45

Promulgating Date: 10/16/2009

Effective Date: 10/16/2009

颁布机关: 天津市财政局; 天津市地方税务局

文      号: 津政发[2009]45号

颁布时间: 10/16/2009

实施时间: 10/16/2009

These Measures are formulated with a view to encouraging and supporting the rapid and sound development of equity investment fund (including industry investment fund, sic passim), and gradually building Tianjin Municipality into a national center for issuance, management, trading, information, and talent training of industry (equity) investment fund.

    为鼓励支持股权投资基金（包括产业投资基金，下同）快速健康发展，把我市逐步建成我国产业（股权）投资基金发行、管理、交易、信息和人才培训中心，特制定本办法。

1. These Measures shall apply to Chinese-funded, foreign-funded, and Sino-foreign joint venture equity investment funds and equity investment fund management institutions registered in Tianjin (including industry investment fund management institutions, hereinafter referred to as "fund management institutions").

       一、本办法适用于在本市注册的内资、外资、中外合资股权投资基金和股权投资基金管理机构(包括产业投资基金管理机构,以下简称基金管理机构)。

2. Tianjin Municipal Commission of Development and Reform is the competent department in charge of equity investment fund industry, and shall be responsible for the development planning and industrial guidance of equity investment fund. It shall take the lead to organize the member entities of the Tianjin Industry (Equity) Investment Fund Development and Record-Filing Administration Office to apply record-filing administration to equity investment funds and fund management institutions.

       二、市发展改革委作为股权投资基金业的行业主管部门,负责股权投资基金的发展规划和行业指导,牵头组织天津产业(股权)投资基金发展与备案管理办公室各成员单位对股权投资基金和基金管理机构实行备案管理。

3. Tianjin Commission of Commerce shall be responsible for accepting the applications for establishing foreign-funded and Sino-foreign joint venture equity investment funds and fund management institutions.

       三、市商务委负责受理外资、中外合资股权投资基金和基金管理机构设立申请。

4. The relevant industry and commerce administration shall be responsible for the industrial and commercial registration of equity investment funds and fund management institutions.

       四、工商行政管理部门负责股权投资基金和基金管理机构的工商注册登记。

5. Tianjin Industry (Equity) Investment Fund Development and Record-Filing Administration Office shall be responsible for studying the policies for boosting the development of equity investment funds and fund management institutions and providing coordination services.

       五、天津产业(股权)投资基金发展与备案管理办公室负责研究促进股权投资基金和基金管理机构发展的政策,做好协调服务。

6. Partnership equity investment funds and partnership equity investment fund management enterprises may adopt the way of "distribution first and paying tax later", that is, the partners separately pay individual income tax or enterprise income tax.

       六、合伙制股权投资基金和合伙制股权投资基金管理企业,可采取“先分后税”的方式,由合伙人分别缴纳个人所得税或企业所得税。

7. In a partnership equity investment fund that is established in the form of limited partnership, natural person limited partners shall pay individual income tax under the category of "income from interest, dividends and bonuses" or "income from property transfer" at a rate of 20%; in the case of natural person general partners, if they execute partnership business and also contribute capital for the fund and their income can be clearly divided, a tax rate of 20% shall apply to their income from the investment or from the equity transfer; if the partners are legal persons or other organizations, they shall pay enterprise income tax in accordance with the relevant policies.

       七、以有限合伙制设立的合伙制股权投资基金中,自然人有限合伙人,依据国家有关规定,按照“利息、股息、红利所得”或“财产转让所得”项目征收个人所得税,税率适用20%;自然人普通合伙人,既执行合伙业务又为基金的出资人的,取得的所得能划分清楚时,对其中的投资收益或股权转让收益部分,税率适用20%;合伙人是法人和其他组织的,按有关政策规定缴纳企业所得税。

8. Fund management institutions and equity investment funds registered and filed for record in Tianjin between January 1, 2006 and December 31, 2012 shall be entitled to the following policies, which shall be handled in accordance with the relevant provisions of Tianjin:

(1) From the date a fund management institution pays its first business tax, it shall be rewarded, by the financial department of the district or county where its tax is paid, with the full amount of the portion of its business tax to be shared by local government for the first two years, and be rewarded with half the amount of the portion of its business tax to be shared by local government for the following three years;

(2) From the year a fund management institutions has made profit, it shall be rewarded, by the financial department of the district or county where its tax is paid, the full amount of the portion of its enterprise income tax to be shared by local government for the first two years, and be rewarded half the amount of the portion of its enterprise income tax to be shared by local government for the following three years;

(3) A fund management institution that purchases or builds new office buildings for self use shall be exempted from paying deed tax and shall be exempted from paying real estate tax for three years;

(4) A fund management institution that purchases or builds offices for self use in Tianjin shall be granted a lump sum subsidy at RMB 1,000 per square meters, which shall be capped at RMB 5 million in total; if it rents offices for self use, it shall be granted subsidies at 30% of the rental of the property each year for consecutive three years. If the actual rental price is higher than the market-guided price for rent of housing, rental subsidies shall be calculated based on the market-guided price. The area of office entitled to subsidies shall not exceed 1,000 square meters and the total amount of subsidies shall not exceed RMB 1 million;

(5) A senior executive that is hired by a fund management institution for consecutive two years or more shall, when purchasing a commodity house or automobile in Tianjin for the first time, or participating in professional training, be rewarded by the financial department with the portion of his individual income tax to be shared by the local government. The aggregate reward shall be capped at the amount he actually pays for purchasing the commodity house or automobile or for participating in the professional training, and the period of reward shall not exceed five years; and

(6) The equity investment funds making investment in enterprises or projects in Tianjin shall be rewarded by the financial department with the amount equaling 60% of the portion of income tax generated after the exit of project or earnings are obtained which is to be shared by local government.

       八、自2006年1月1日起至2012年12月31日止,在本市注册并经备案的基金管理机构和股权投资基金享受以下政策,并依照本市有关规定办理:

    (一)基金管理机构自缴纳第一笔营业税之日起,前两年由纳税所在区县财政部门全额奖励营业税地方分享部分,后三年减半奖励营业税地方分享部分。

    (二)基金管理机构自获利年度起,前两年由纳税所在区县财政部门全额奖励企业所得税地方分享部分,后三年减半奖励企业所得税地方分享部分。

    (三)基金管理机构购建新的自用办公房产免征契税,并免征房产税三年。

    (四)基金管理机构在本市区域内,新购建自用办公用房,按每平方米1000元的标准给予一次性补贴,最高补贴金额为500万元;租赁自用办公用房的,三年内每年按房屋租金的30%给予补贴。若实际租赁价格高于房屋租金市场指导价,则按市场指导价计算租房补贴,补贴面积不超过1000平方米,补贴总额不超过100万元。

    (五)基金管理机构连续聘用两年以上的高级管理人员在本市区域内第一次购买商品房、汽车或参加专业培训的,由财政部门按其缴纳的个人所得税地方分享部分给予奖励,累计最高奖励限额为购买商品房、汽车或参加专业培训实际支付的金额,奖励期限不超过五年。

    (六)股权投资基金投资于本市的企业或项目,由财政部门按项目退出或获得收益后形成的所得税地方分享部分的60%给予奖励。

9. Establishing project recommendation system. Big projects and good projects that are suitable for investment by equity investment funds shall be recommended on a priority basis to fund management institutions registered and filed for record in Tianjin on a regular basis. Tianjin enterprises in which equity investment funds make investment shall be listed into the back-up going-public enterprise nurturing plan on a priority basis, and shall be supported to go public in domestic or overseas capital market, and be entitled to relevant preferential policies in Tianjin.

       九、建立项目推荐制度。定期将适合股权投资基金投资的大项目、好项目优先推荐给在本市注册并备案的基金管理机构。对股权投资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,并享受本市有关优惠政策。

10. Efforts shall be made to study and improve the registration, foreign exchange administration, industry investment, and exit mechanism of foreign-funded equity investment funds and fund management institutions so as to support the development of foreign-funded equity investment funds in Tianjin.

       十、研究外资股权投资基金和基金管理机构的注册登记、外汇管理、产业投资和退出机制,支持外资股权投资基金在津发展。

11. An equity investment fund information statistics and credit rating system shall be established, and a project cooperation and exit platform shall be built so as to actively guide and nurture outstanding fund managers and qualified capital contributors and create favorable environment for the development of equity investment fund industry.

       十一、建立股权投资基金信息统计、资信评级制度,搭建项目对接和退出平台,积极引导培育优秀的基金管理人和合格的出资人,营造良好的股权投资基金业发展环境。

12. Office conditions that meet international standards shall be created to satisfy service demand in an all-round way. Fund management institutions shall be supported and guided to locate in Tianjin for handling business in a centralized manner so as to form a cluster of equity investment fund in Tianjin.

       十二、创造国际化的办公条件,全方位满足服务需求,支持和引导基金管理机构落户我市集中办公,力争形成股权投资基金的集聚区。

13. Equity investment funds registered in Tianjin shall be supported to conduct project cooperation and equity transfer at Tianjin Equity Exchange and Binhai International Equity Exchange.

       十三、支持在本市注册的股权投资基金,在天津股权交易所和天津滨海国际股权交易所进行项目对接、股权转让。

14. Commercial banks are encouraged to conduct equity investment fund custody services and M&A loan business. Financial institutions such as securities companies, insurance companies, trust companies, and financial companies are encouraged to invest in or establish fund management institutions and equity investment funds.

       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。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投资或设立基金管理机构和股权投资基金。

15. Support shall be given to the work of China Private Equity Association. China Private Equity Association shall be supported to fully leverage the role in strengthening the self-disciplinary management of equity investment fund enterprises, establish a smooth communication channel between the Association and the government agencies, organize professional certification training for equity investment management talents, and carry out various exchanges and cooperation activities.

       十五、支持天津股权投资基金协会工作。充分发挥天津股权投资基金协会在加强股权投资基金企业自律管理中的作用,建立协会与政府部门良好沟通渠道,组织股权投资基金业管理人才的职业资格培训,开展各类交流合作。

16. For the purposes of these Measures, "financial department" shall refer to the financial department at the place where the equity investment fund or fund management institution is registered. If, during the implementation hereof, an equity investment fund or fund management institution is entitled to multiple preferential policies at the same time, it may choose whichever is the most favorable but shall not enjoy policies repetitively.

       十六、本办法所称财政部门指股权投资基金或基金管理机构注册地的财政部门。在实施过程中如遇同时享受政策条款时,可从优但不得重复享受优惠政策。

17. These Measures shall become effective from the promulgation date.

       十七、本办法自发布之日起实施。