Overseas arbitration institutions may set up business institutions in the new area of Shanghai Free Trade Zone near Hong Kong
Xinhua News Agency, Shanghai, November 8 (Reporter Lan Tianming) at the Shanghai International Arbitration Summit Forum held on the 8th, The Shanghai Municipal Bureau of Justice has promulgated the measures for the Administration of overseas Arbitration institutions to set up Business institutions in the New Lingang District of the Free Trade pilot Zone of China (Shanghai). The measures say that from January 1 next year, overseas arbitration institutions may set up business institutions in the new area near Hong Kong in the Shanghai Free Trade Zone.
According to the Administrative measures, with effect from January 1, 2020, Arbitration institutions lawfully established in foreign countries and in the Hong Kong Special Administrative region of China, the Macao Special Administrative region and Taiwan for the purpose of non-profit, as well as institutions established by international organizations to which China is a member to conduct arbitration business, An application may be made to the Shanghai Municipal Bureau of Justice to register and set up a business organization in the new area of Shanghai Free Trade Zone near Hong Kong to carry out relevant foreign-related arbitration business.
The Administrative measures state that the foreign-related arbitration business that business organizations may carry out in respect of civil and commercial disputes in the fields of international commerce, maritime affairs and investment includes: case acceptance, trial, hearing and adjudication; case management and services; Business consultation, guidance, training, discussion.
According to the Administrative measures, if an overseas arbitration institution applies for the establishment of a business institution in a new area, it shall meet the following conditions: it shall be legally established abroad and shall survive for more than 5 years; the arbitration business shall be substantially carried out abroad and shall have a high international reputation; The person in charge of a business organization has not been subject to criminal punishment for intentional crime. At the same time, business institutions shall not carry out arbitration business in disputes without foreign factors. Business institutions may no longer set up branches or dispatched offices.