I. Filing Process for the Establishment of Private Equity Funds The process for the registration and filing of private equity funds is as follows: (1) Identifying qualified investors; (2) industrial and commercial registration; (3) Opening a basic bank account; (4) Opening a fund-raising account; (5) Selecting the custodian institution and outsourcing institution; (six) upload the relevant documents involved in the above process to the product filing column of the association manager system. Second, how long does it take for private equity funds to file? It usually takes one month for private equity funds to file. Three. The establishment process of private equity fund (I) The establishment of corporate entity 1. Company name: According to the regulations of the association, the name and business scope of the main company applying for private equity fund license must have the words "private placement", "investment management", "asset management", "equity investment" and "fund management". General company names include XXXX Investment Management Co., Ltd., XXXX Asset Management Co., Ltd., XXXX Investment Co., Ltd., XXXX Equity Investment Management Co., Ltd., XXXX Capital Management Co., Ltd., etc. The determination of the name is related to the specific provisions of the industrial and commercial bureaus all over the country, and the final audit results of the names in different places are also different. 2. Company type: At present, it is generally a limited liability company or a limited partnership (at present, the association has liberalized the application of a wholly foreign-owned enterprise (WOFE) for a private fund manager license in China, and the establishment of WOFE is more complicated, which will be explained in detail in subsequent articles). 3. To choose a suitable company registered address, the main considerations are: providing registered address, tax incentives, tax rebates and incentives for executives, management scale incentives, office space provision and other supporting service measures. 4. About the registered capital: generally 6,543,800+million is more appropriate. Now it is a subscribed capital system, and shareholders can agree to pay up their capital before a certain time. The association requires that the proportion of paid-in capital be above 25%, or that the paid-in capital can guarantee the company to operate for more than 6 months. 5. About the company's business scope: According to the regulations of the Association, the current business scope of private equity fund managers can only be: asset management, investment management, equity investment management and equity fund investment management (it is recommended that the words "investment consultation" should not be written in the business scope of managers applying for private equity fund type licenses). 6. Miscellaneous matters: handling the company's industrial and commercial registration, engraving seals, opening bank accounts, opening social security accumulation fund accounts, etc. (2) Opening of the company 1. Approved taxes: At present, general investment companies are approved as small-scale VAT taxpayers, and the VAT rate is 6% (total turnover *6%= VAT), corporate income tax is 25%, and personal income tax is 20% (the main income of investment companies is management fees and back-end performance sharing, so this tax should be negotiated with the park where the company is registered, and a certain percentage of tax will be refunded). 2. Apply for a legal person U shield with one certificate, and open a tripartite agreement on tax and silver to ensure online tax filing and online operation of employee social security accumulation fund in the future. 3. Looking for the company office: Because the actual office address is required to apply for a private placement license, lawyers and associations will conduct on-site due diligence. 4. Company website construction and WeChat website construction (it should be noted that products cannot be raised through public channels, and information disclosure should meet the requirements of the association). (3) Apply for a private equity fund license 1. Qualifications of senior managers: Private equity funds engaged in securities must have at least two senior managers with fund qualifications, among whom the legal representative, general manager and person in charge of risk control must have fund qualifications. 2. Business scope: Just register according to the instructions in 1 and 3. 3. Registered capital: the proportion of paid-in capital reaches more than 25%, or the paid-in capital can guarantee the company to operate for more than 6 months. 4. Office conditions: it is necessary to have an actual office address of any size, which can meet the normal work of all employees of the company and have suitable office equipment. 5. Senior management: It is better to have 5- 10 employees. Organizational structure: General Manager, Investment Department, Risk Control Department, Administration Department, Marketing Department, Personnel Department, etc. , each has 1-2 employees, of which the general manager, risk control director and investment manager are best full-time, and others can work part-time. 6. Institutional documents: prepare institutional documents according to the situation of the association and the company. Generally, there are 9-23 institutional documents (don't copy all other templates. The association is very strict in reviewing this aspect now, and it needs to be prepared strictly according to its own situation. A few are not important, but it is important to match with its own company). 7. License type: At present, there are four types of funds: private equity funds, private equity funds, private venture funds and other types of funds. Choose one or more according to your actual needs. According to the latest feedback from the Association, "Apply for business types and suggest specialized operation", it is suggested that managers only apply for one type of fund license temporarily when the company's team and departments are insufficient, and then increase the types after the team is expanded, so that the probability of passing the association's audit is relatively high. 8. Legal opinions: Professional law firms need to be invited to conduct due diligence, complete legal opinions according to the requirements of the association, and submit them when the private equity fund manager applies for a license. 9. Online application: apply for the account filing of the private equity fund manager, complete the online information entry and keep it consistent with the legal opinion, and upload the legal opinion. 10, waiting for feedback from the association and obtaining the license of private fund manager. (IV) Product issuance 1. Fund products must be successfully filed within six months after obtaining the private fund manager's license, otherwise the license will be revoked, and you should apply for a new license according to the above "III". 2. Product type: At present, contractual funds are generally used, such as PB suppliers, custodians, custodians, product element lists, fund contracts, custody agreements, outsourcing agreements, etc. The decision has been made. 3. Product raising: employees raise or look for institutions with fund sales licenses by themselves, generally including banks, brokers, futures companies, third-party wealth management companies, FOF/MOM, etc. 4. Product filing: After the product is established, the fund products are filed and registered in the fund industry association system. (5) Subsequent operations 1. Corporate finance: monthly bookkeeping and tax return, annual financial settlement and payment, and annual online publicity of enterprises. 2. Information disclosure: upload the annual audit report of the previous year to the private placement manager system before April 30 every year, and disclose the monthly, quarterly and annual information of fund products. 3. Company publicity: brand building, media cooperation publicity, joining relevant associations, roadshows, staff building, corporate culture building, trading strategy team improvement, etc. 4. Partners: brokers, banks, futures companies, FOF/MOM, third-party financial institutions, professional institutional investors, accounting firms, law firms, etc. 5. Start-up capital: Because it is the first product, it is still difficult to raise all funds from outside. There are three solutions: the first method is to invest some funds as inferior funds through structured products and leverage to achieve the purpose of scale. The second method is: choose a brokerage or futures company with the willingness and ability to raise funds in the future, and show it there with its own funds first, which will take about 6 months. If the performance is good, they will help you raise your first product. The third method is to choose some seed fund incubators that can be given to private equity funds in the early stage, and give you funds directly after due diligence on your team and operation, or set up the first product through joint investment. Basically, the establishment and follow-up operation of private equity fund companies generally include the above elements. Of course, every link has very detailed work to do. Engaging in the private equity fund industry is a very systematic undertaking, which requires long-term planning from the beginning.

Legal objectivity:

The establishment condition of private equity fund is 1. The name shall conform to the Regulations on the Administration of Name Registration, and the words "investment fund" are allowed to be used in the names of investment enterprises that reach a certain scale. 2. The words "venture capital fund, venture capital fund, equity investment fund, investment fund" in the industry terminology can be used in the name. As an administrative division, "Beijing" is allowed to be used between trade names and industry terms. 3. Fund type: the registered capital (contribution) of the investment fund company is not less than 500 million yuan, all of which are contributed in cash, and the paid-in capital (contribution) at the time of establishment is not less than 654.38 billion yuan; The registered capital shall be fully paid in accordance with the Articles of Association (partnership agreement) within 5 years. "4. The contribution of a single investor shall not be less than 6,543,800 yuan (except for the general partner in a limited partnership). 5. At least three senior managers have experience in the management and operation of equity investment funds or related business experience. 6. The business scope of fund enterprises is approved as: investment, investment management and consulting of non-securities business. (Fund-based enterprises may apply to engage in other business projects outside the above business scope, but may not engage in the following businesses: (1) Lending; (2) publicly traded securities investment or financial derivatives trading; (3) Raising funds publicly; (four) to provide guarantees for enterprises other than the invested enterprises. 7. Managing fund companies: Investment fund management "The registered capital (capital contribution) is not less than 30 million yuan, all of which are in monetary form, and the paid-in capital (actual capital contribution) at the time of establishment". 8. The investment amount of a single investor shall not be less than 6,543,800 yuan (except for the general partner in a limited partnership). 9. At least three senior managers have experience in the management and operation of equity investment funds or related business experience. 10. The business scope of managed fund enterprises is approved as: investment in non-securities business, investment management and consulting. The above are the specific conditions for setting up a private equity fund, and I hope it will help you.