If a foreign-invested enterprise receives spot exchange capital from a foreign shareholder, is it necessary to go to an accounting firm for capital verification confirmation?

Since June 1, 2015, the State Administration Of Foreign Exchange (SAFE) has simplified the  registration procedures for confirmation of the capital contribution of foreign investors under domestic direct investment, which include cancelling the registration for confirmation of the non-cash capital contribution of foreign investors under domestic direct investment and the registration for confirmation of the capital contribution made by foreign investors for acquisition of the equity interests of the Chinese side, as well as adjusting the registration for confirmation of the capital contribution of foreign investors to the entry registration of cash contribution under domestic direct investment.

Therefore, if a foreign-invested enterprise receives a spot exchange capital contributed by the foreign shareholder in the form of money, it no longer needs to go to the accounting firm for capital verification confirmation. After the foreign-invested enterprise completes the registration of the basic information (including the change registration), the bank in which the enterprise opens an account shall directly handle the registration procedure for the entry of the capital contribution under domestic direct investment through the capital account information system of the foreign exchange administration after receiving relevant capital payments, and such capital may not be used until it has been registered.