Regulatory Approval Details

Process | Fee Structure | Engagement Steps | FAQ

Our Process

We combine astute research, thorough due diligence, direct engagement, and continuous oversight to forge you a clear path to regulatory approval.

Market Access

  • 1

    RESEARCH & ANALYSIS
    Uncover all relevant laws, regulations, and market barriers that apply to your solutions.

  • 2

    ASSET DEVELOPMENT
    Develop marketing assets that clearly communicate your company, solution, and proposed plans for the Chinese market.

  • 3

    GOVERNMENT ENGAGEMENT
    Engage and negotiate with key government departments, research centers, and universities to plot a clear path to regulatory approval.

  • 4

    WIN SUPPORT
    Formally apply for grants, subsidies, and other tangible support from the government to help expedite and reduce the cost of approval further.

  • 5

    SUBMIT APPLICATIONS
    Help you get all required documentation into Chinese and then formally submit them to the relevant regulatory bodies.

  • 6

    EXPEDITE APPROVAL
    Continually liaise, and where needed negotiate with, regulators and local authorities to expedite the approval until it is completed.

  • 7

    MONITOR (OPTIONAL)
    Continually monitor your industry sub-sector for changes in the regulatory environment and update you on any changes.

  • 8

    MANAGE (OPTIONAL)
    Help you manage relations with key regulators by being their primary point of contact.

Fee Structure

Every project we undertake is tailored to our client’s goals, and we calculate our fees based on the complexity, time, and value created for each project. On a case-by-case basis, we can reduce our monthly retainer by a maximum of 50% in exchange for a compelling success fee.

VARIABLES

MONTHLY RETAINER

(formula)
Complexity x Time x Value Created =
(formula)
,
(our rates)
$15-30k
(on average)
.
Engagement Steps

Our engagement process is designed to be highly collaborative to ensure that we find the best solution for your company as efficiently and effectively as possible.

  1. Receive an initial consultation for free to discuss your goals for the Chinese market and how Serica can help you achieve them.
  2. Sign a ‘Mutual Non-Disclosure Agreement’ to protect everyone’s interests. For mutual convenience and security, we send the agreement electronically (via DocuSign) for e-signature.
  3. We outline (in a ten slide presentation) the basic details of our prescribed solution – covering the key opportunities, time-frames, and value created as well as the estimated project fees for your consideration.
  4. Once you achieve consensus on the broad solution, we will have a follow-up meeting to give you the opportunity to ask questions, refine details, and request changes.
  5. Building upon what was previously discussed and agreed upon, we collaborate to develop an ‘Initial Proposal’ covering the precise scope, deliverables, and operation details.
  6. We conduct a ‘Proposal Review Meeting’ where we both have the opportunity to discuss, collaborate and further refine the proposal.
  7. Based on discussions in the previous meeting, additional details are added to the proposal, alongside ‘Terms & Conditions,’ transforming the proposal into a legal contract.
  8. We begin working together to achieve your commercial goals and international ambitions.

Frequently Asked Questions

1. What is the average length of a Regulatory Approval project?

Between 6 to 12 months, depending on the project scope and complexity.

2. Do you accept projects for companies without regulatory approval in the US, UK, or EU?
No. Any product, solution, or service you want to bring to the Chinese market must first have approval in either the US, UK, or EU.

3. What sectors do you focus on?
Healthcare & Lifesciences, Energy & Sustainability, Automotive & Mobility, Enterprise Software, Fintech & Regtech, and Digital Commerce.

4. What regulatory bodies can you engage with?
We have experience dealing with most major Chinese regulatory bodies governing different industries and activities, including but not limited to the NMPA (formerly known as CFDA), CSRC, CAC, and SAPP.

5. After the project is completed, can you work in a reduced capacity to ensure we remain compliant?
Yes, we can monitor regulations in your subsector and become the primary point of contact for regulators – typically at a 70-80% reduction of our monthly rates.

6. Are expenses covered?
No. However, the contract we sign states that all expenses must be pre-agreed in advance and that receipts must be provided before any reimbursement is paid.

7. Are there any third-party fees we will incur?
Yes. At a minimum, there will be government fees that you will incur.

8. What are your billing cycles?

We bill quarterly, with the first payment due within ten (10) business days of the contract being signed.

9. What currencies do you accept?
USD, GBP, EUR, SGD and CNY.

10. What jurisdictions apply to Serica contracts?
Our default jurisdiction is Singapore due to its advanced legal system and efficient (and cost-effective) dispute resolution. We can accept other well-regarded Common Law jurisdictions such as England and the United States as alternative jurisdictions.

11. Can we sign a Non-Disclosure Agreement before our consultation?

Yes, as long as it is a Mutual Non-Disclosure Agreement (MNDA) with Singapore, England, or the United States as the jurisdiction and is signed electronically. View Serica’s MNDA by clicking HERE.

12. Why do you exclusively use digital contracts, proposals, and invoices?

The ability to receive, sign, and pay electronically provides both of us with enhanced security and greater convenience. Learn more.

13. Can you help organize visas, travel arrangements, and source interpreters?
Yes. If needed, we can sponsor your visa, help you find hotels, and connect you with reliable (and cost-effective) interpreters.

14. How do you track and report project progress?
We provide you with direct access to our project management software that enables you to track and review our progress in real-time.

15. What else do you need from us?
Serica takes a highly collaborative approach to every project we undertake. Throughout the project, we expect and need you to dedicate the time, focus, and resources towards achieving the goals we set together.

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