Specific Arrangements for CEPA

Hong Kong and Macau service suppliers are permitted to establish wholly-owned enterprises and joint ventures in the Mainland to provide agency services to the Mainland insurance companies.

Requirements for Service Suppliers

• More than 30 years in running insurance business
• A representative office established in mainland for over 2 years
• Total assets as at the end of the preceding year before application shall not be less than USD5 billion
• Subject to the supervision of local competent authority
• Meet local solvency standard
• Approval of their application from local competent authority
• Other conditions as required by China Insurance Regulatory Commission

Required Documents

• Application for incorporation, which shall be jointly signed by each party’s legal representative for the joint venture
• Business license
• Proof of solvency standard and letter of opinions on the application from local competent authority
• Articles of association
• Annual reports for the last 3 years
• Related documents of Chinese applicant for the joint venture
• Feasibility study report
• Proposal for establishment and preparation, list of person-in-charge, their curriculum vitae, and certificates of qualification
• Certificates of service suppliers
• Other documents as required by China Insurance Regulatory Commission