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New Rules for Venture Capital in Hainan Free Trade Port Issued
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Chinese
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Category:Legislative Updates
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Subject:Regional economy
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Keywords:free trade port; venture capital
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Source:Pkulaw
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Publish Date:09-30-2021
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Recently, the Development and Reform Commission of Hainan Province and other departments jointly issued the Guidelines for Venture Capital in Hainan Free Trade Port (2021 Edition). While specifying the conditions for filing with development and reform departments, investment operation, and supervision methods of venture capital enterprises, this document also makes clear the preferential policies for venture capital enterprises in Hainan, namely preferential tax policy, development bonus of the free trade port, fast commercial registration, and sufficient supporting policies. At present, a venture capital enterprise established in Hainan Free Trade Port will enjoy bonuses from the following policies after meeting related conditions: 1) its taxable income may be deducted as per 70% of the investment in small and medium-sized high-tech enterprises and start-up technology enterprises; 2) it may be subject to the enterprise income tax at the reduced rate of 15% if it is an enterprise to industries in the Catalogue of Encouraged Industries in Hainan Free Trade Port; moreover, the eligible employees of venture capital institutions may enjoy the preferential policy of exempting the actual tax burden of individual income tax that exceeds 15% of their incomes gained in Hainan Free Trade Port, including comprehensive incomes, business incomes, and talent subsidy income recognized by Hainan Province.
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