The company's main professional personnel must have venture capital investment qualifications recognized by the Trade Association. To establish a VCIC, the applicant must be in good credit standing. Whereas to establish a VCIMC, the applicant must have a good reputation and service record. Foreign investors applying to establish a wholly foreign-owned venture capital investment organization must have total assets of at least US$ 50 million during the year preceding the application. Foreign investors applying to establish a venture capital investment organization as a Sino-foreign joint venture must have total assets of at least US$ 30 million in the year preceding the application. The Chinese investor's total assets must be at least RMB 30 million (US$3.62 million) for the same period.