According to the third paragraph of Article 2 of the new version of Notes for Registration of Private Placement Managers, the office space of the applicant institution is required to be independent. If industrial and commercial registration is not in the same administrative region as the actual business place of the applicant, the rationality of the separation shall be fully explained. The applicant shall truthfully fill in the relevant matters, and the law firm shall conduct due diligence on the relevant facts, respectively explaining whether the applicant's business premises and place of registration are actually operated in the actual business premises.

The business place is also the office address, for example, the area should not be too small to be mixed with other institutions, and the business place should be isolated independently. Let's not talk about whether the company's registered place and office place, which have been controversial recently, should be the same. Just look at this first requirement: the office place needs to be independent.