出海指南 | 美国准入和架构（四）

对于出海美国的中国企业来说，需要结合美国市场的业务布局和规划、融资和上市需求、当地的监管要求以及税务筹划等多方面因素，综合考量和决定出海美国的架构和布局，常见的主要有以下几个类型： 

1、对于常见的红筹架构企业来说，大都选择将其美国实体直接或间接地设在境外控股及上市主体（通常是开曼公司）之下，与境外控股及上市主体下设的其他业务版块（例如中国业务）并行，此类企业典型的架构如下：

3、对于虽然是华人团队为主但是业务主要在美国的企业来说，一般不会搭建复杂的架构，而是直接在美国设立公司并作为上市主体，美国公司再根据需要设立中国子公司，且上市地大都在美国的交易所。近年来类似华人团队在美国创业并成功上市的案例主要集中在生物医药、人工智能、高端制造、互联网等行业。 

注释
[1] https://unctad.org/system/files/official-document/wir2022_en.pdf
[2] http://images.mofcom.gov.cn/fec/202211/20221118091910924.pdf
[3] https://finance.sina.com.cn/tech/2022-06-02/doc-imizirau6091857.shtml
[4] https://corplaw.delaware.gov/chs/why_delaware/
[5] https://revenue.delaware.gov/frequently-asked-questions/corporate-income-tax-faqs/
[6] 以特拉华州的Corporation 为例，不包括LLC、合伙等其他实体形式
[7] https://corplaw.delaware.gov/after-incorporation-formation/
[8] DGCL § 102 Contents of certificate of incorporation
[9] DGCL § 242 Amendment of certificate of incorporation after receipt of payment for stock.
[10] DGCL § 109(b): The bylaws may contain any provision, not inconsistent with law or with the certificate of incorporation, relating to the business of the corporation, the conduct of its affairs, and its rights or powers or the rights or powers of its stockholders, directors, officers or employees
[11] DGCL § 109(a): Notwithstanding the foregoing, any corporation may, in its certificate of incorporation, confer the power to adopt, amend or repeal bylaws upon the directors or, in the case of a nonstock corporation, upon its governing body. The fact that such power has been so conferred upon the directors or governing body, as the case may be, shall not divest the stockholders or members of the power, nor limit their power to adopt, amend or repeal bylaws
[12] https://www.delawareinc.com/blog/bylaws-more-important-than-you-think/
[13] https://corplaw.delaware.gov/after-incorporation-formation/
[14] 49 U.S.C. 44102(a)
[15] 12 U.S.C. 3105(d)
[16] 47 U.S.C. 310(b)(4)
[17] 31 CFR 800.301(e)(7)
[18] 31 CFR 800.210
[19] 31 CFR 800.211
[20] 31 CFR 800.213(c)&(d)
[21] 31 CFR 800.402
[22] 31 CFR 800.401(b)
[23] 31 CFR 800.401(c)
[24]https://home.treasury.gov/policy-issues/international/the-committee-on-foreign-investment-in-the-united-states-cfius/cfius-reports-and-tables
[25] 《关于外国人士在美国进行特定投资的规定》（Provisions Pertaining to Certain Investments in the United States by Foreign Persons）
[26] 《2018年外国投资风险审查现代化法案》（Foreign Investment Risk Review Modernization Act of 2018）
[27] https://www.whitehouse.gov/briefing-room/presidential-actions/2022/09/15/executive-order-on-ensuring-robust-consideration-of-evolving-national-security-risks-by-the-committee-on-foreign-investment-in-the-united-states/