Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 63

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 10
Chunk 63
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 par value;                 
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  may obtain an undertaking against                                        
  the imposition of any future taxation (for a period of up to 30 years);  
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  may register by way of continuation                                 
  in another jurisdiction and be deregistered in the Cayman Islands;  
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  may register as an exempted    
  limited duration company; and  
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  may register as a segregated  
  portfolio company.            
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“ Limited liability”
means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company.

10. C. Material contracts

Other than those described
in this annual report, we have not entered into any material agreements other than in the ordinary course of business.

10. D. Exchange controls

The Cayman Islands, British
Virgin Islands and Hong Kong currently have no exchange control regulations or currency restrictions.

Under existing PRC foreign
exchange regulations, payment of current account items, such as profit distributions and trade and service-related foreign exchange transactions,
can be made in foreign currencies without prior approval from the State Administration of Foreign Exchange, or the SAFE, by complying
with certain procedural requirements. Therefore, our PRC subsidiaries are able to pay dividends in foreign currencies to us without prior
approval from SAFE, subject to the condition that the remittance of such dividends outside of the PRC complies with certain procedures
under PRC foreign exchange regulations, such as the overseas investment registrations by our shareholders or the ultimate shareholders
of our corporate shareholders who are PRC residents. Approval from, or registration with, appropriate government authorities is, however,
required where the RMB is to be converted into foreign currency and remitted out of China to pay capital expenses such as the repayment
of loans denominated in foreign currencies. The PRC government may also at its discretion restrict access in the future to foreign currencies
for current account transactions. Current PRC regulations permit our PRC subsidiaries to pay dividends to the Company only out of their
accumulated profits, if any, determined in accordance with Chinese accounting standards and regulations. As of the date of this annual
report, there are no restrictions or limitations imposed by the Hong Kong government on the transfer of capital within, into and out of
Hong Kong (including funds from Hong Kong to the PRC), except