[每天懂点法]Minimum Registered Capital Removed for online Cultural companies

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China’s Ministry of Culture has recently announced its decision to remove the restrictions on the minimum registered capital（最低注册资本） of the internet-based cultural companies (RMB 1 million) and theminimum registered capital of companies engaged in online game industry (RMB 10million).

Cultural enterprises will still need to obtain the “Commercial Performance Permit《营业性演出许可证》,” “Entertainment Business Permit,《娱乐经营许可证》、” and the “Internet-based Cultural Business Permit” with relevant cultural departments. However, they are no longer required to submit the documents that have already been submitted when they apply for the business license before.

（by China Briefing）

（部分图片内容摘自互联网，版权归作者所有）

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