Setting up a Company in China

 

Corporation China is the leading company registration firm in China. We offer China Company Registration, company formation, registered address, and taxes and accounting services customized to our client’s business needs. As part of Yingke Law Firm, we also offer legal services to support your business in the future.

Our Turnkey solution starts with first analyzing your business scope and operation and then strategizing the best legal and marketing path forward

We take care of the complete China Company Registration and China Company formation process. The registration of a Consulting Company or Trading Company in China is simple, a Wholly Foreign Owned Enterprise, abbreviated WFOE or WOFE is the best and oftentimes only option for conducting business in China as a foreign owned entity. It is a commonly used investment vehicle for mainland China-based businesses. Registering a WFOE takes about 30 days. Save Save Save Save

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Corporation China can supply a registered address that will be the legal address of your company. A registered address is required to register your company in China. Save Save Save

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Chinese Bank Account

Opening a Chinese Bank Account is a post-licensing service of ours. Corporation China has the knowledge to assist your company during the Bank Account Opening Process. Hong Kong Bank Account Opening a Hong Kong Bank Account. Corporation China is also the Registered agent for some international banks , in these cases you do not need to go to the bank , we can sort out all the details and get the bank account open.
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Qualitative Research

Consumer View brings Chinese consumers together to gather deep insights into various segments of consumer’s across China.
China Pulse collects valuable insights from a sample source of 150,000 online Chinese consumers which is then segmented across Tier’s 1, 2 & 3 cities, developed in conjunction with the National Bureau of Statistics.
WeChat Marketing, WeChat is the fastest growing app in China with currently over 600 million users. WeChat Marketing is a must for brands in China
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ACCOUNTING SERVICES Corporation China we help run your company, take charge of all you accounting needs , tax filling and do all the correspondence with the government and relevant bureaus regarding your company Corporation China will assign a TOTAL SUPPORT™ Account Manager to your Company as a single point of contact , thus enabling you to build a good relationship and help us understand your business

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China HR & Recruitment This is the most commonly outsourced HR function and involves monthly payroll processing as well as the calculation of monthly employer and employees? Social benefits contributions to the relevant Chinese authorities HR Administration & Consulting Services

China’s employment environment is complex due to the need to integrate national laws and local policies This form does not exist

Getting a China Visa

In order to work and reside in China, you must obtain a working visa, also called a Z visa. Corporation China will assist in obtaining the appropriate visa and work permits for foreign employees who will be working in the WFOE. Employment Visas and Work Permits are good for one year and include multiple entries.

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Wholly Foreign Owned Enterprise

Corporation China’s 5 easy steps

  1. Pick the type of company ( see list below)
  2. Pick a location ( we have 40 locations in China)
  3. We will supply the Registered Office
  4. No Registered Capital is required
  5. No need to travel to China

The registration of a China Consulting Company is simple, Wholly Foreign Owned Enterprise, abbreviated WFOE or WOFE is the first and obvious choice for foreigners looking to do business in China. So what defines a WFOE? The unique feature of a WFOE is that the entity is 100% owned and capitalized by foreign investors and operating without a local (Chinese) partner. This maintains greater control over your businesses operations, targets and profits of the company, allowing the mother company to concentrate on its own operations. WFOE is the favorable option for an overseas company that wants to permanently incorporate into mainland China.

Company Types

CONSULTING COMPANY

Wholly Foreign Owned Enterprise Consulting Business Services

Wholly Foreign Owned Enterprise Restaurant Management

Wholly Foreign Owned Enterprise Overseas Investment Consulting

Wholly Foreign Owned Enterprise Great & Flexible Start Up

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trading company registration in China

TRADING COMPANY

Wholly Foreign Owned Enterprise Importing and Exporting

Wholly Foreign Owned Enterprise Purchasing Products for Export

Wholly Foreign Owned Enterprise Selling in China Local Market

Wholly Foreign Owned Enterprise Claiming VAT Tax Back

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representative office registration in China

REPRESENTATIVE OFFICE

Wholly Foreign Owned Enterprise Oversea Company Representation

Wholly Foreign Owned Enterprise China Market Research

Wholly Foreign Owned Enterprise Technology Exchanges

Wholly Foreign Owned Enterprise Quality Control Audits

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Wholly Foreign Owned Enterprise

FOOD & BEVERAGE COMPANY

Wholly Foreign Owned Enterprise Coffee Shop or Restaurant

Wholly Foreign Owned Enterprise Food Import & Export

Wholly Foreign Owned Enterprise Wine or Alcohol Import & Export

Wholly Foreign Owned Enterprise China Local Food sales

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Wholly Foreign Owned Enterprise manufacturing

MANUFACTURING COMPANY

Wholly Foreign Owned Enterprise Set up a Factory

Wholly Foreign Owned Enterprise Manufacture products for export

Wholly Foreign Owned Enterprise Assemble products

Wholly Foreign Owned Enterprise Engineering Factory

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HONG KONG COMPANY

Wholly Foreign Owned Enterprise Best to hold your China WFOE

Wholly Foreign Owned Enterprise Offshore Company

Wholly Foreign Owned Enterprise Offshore Bank Account

Wholly Foreign Owned Enterprise TAX FREE

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What can I use a Chinese Company for?

Condulting company registration
  • Consulting Business Services

  • Restaurant Management

  • Overseas Investment Consulting

  • Great & Flexible Start Up

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  • A Low Capital Requirement

  • Total Management Control within PRC

  • Ability to Remit profits to the Parent Company

  • Issue ” Fapiao” Tax Invoices

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  • Can be used for all types of Consulting Businesses

  • Can be a Holding Company for F&B Company

  • Does not require real office

  • No Capital Needed

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  • To start your Wholly Foreign Owned Enterprise (WFOE) registration
  • We have created a very simple procedure for our clients to get their Wholly Foreign Owned Enterprise Registration started in China.
  • All you need to do is to deliver the documents to us and we sort out the rest.
  • We always recommend setting up a holding company in Hong Kong. You can find More info about setting up a Hong Kong Company here.
  • Corporation China is a government licensed registration agency that provides business registration services. We offer practical solutions for corporate formation with our extensive knowledge and background, all while guaranteeing results for our clients.
  • It is not necessary for you to be in China to get the process started.
  • The procedure to set up a Wholly Foreign Owned Enterprise is very similar regardless which WFOE you want to establish. You can use a Hong Kong Company (recommended), set up as an Individual or your existing Overseas Company and then apply a specific license depending on your business scope.

SETTING UP AS AN INDIVIDUAL

  • China Consulting Company Registration
  • A scan of your passport
  • A Personal Bank Reference Letter, only stating no bad record.
  • Choose a name for the your China WFOE
  • Choose a location for the company in China

SETTING UP AS A HONG KONG COMPANY

  • China Consulting Company Registration
  • Notarized copy of Passport of Director and Company Registration Certificate
  • Hong Kong Company Registration Certificate
  • Hong Kong Company Bank Reference Letter
  • The Hong Kong Company will then be the Holding Company for the WFOE
  • We can set up a Hong Kong Company in about 5 days More info

SETTING UP AS AN OVERSEAS COMPANY

  • China Consulting Company Registration
  • A Passport Scan of the Director(s)
  • A Certificate of Company incorporation
  • A Company Bank Reference Letter – stating no bad record
  • All Documents need to be notarized by the Chinese Embassy.
  • This way is good for a Representative Office, but a Hong Kong Holding company is more suitable WFOE

Representative office registration in China

Wholly Owned Foreign Enterprise China incorporation fees

  • Government license fees ( Varies from type of business & Location)
  • Consulting fees
  • Registered Office Address (Corporation China can provide an Office address to register your Company)
  • Notarization Fees
  • Registered Capital ( with Corporation China do do not need payed up Registered Capital)

Wholly Foreign Owned Enterprise Registered Capital

With Corporation China there is NO REGISTERED CAPITAL NEEDED!

 
Registered capital basically the quantity of cash that’s required run your company till it will break even. Registered capital is the funds that you just can use get your company running up and run your company for successive six months. Registering the capital is that the easiest method to transfer cash to China with full tax exemption. The payment of the registered capital is extremely versatile. a minimum of 20 percent of the capital is paid throughout the primary 2 months of in operation. the remainder of the registered capital may be paid among 5 years years from the corporate registration. Registered Capital refers to the full capital contribution of the shareholders that’s registered with the relevant government agency. there’s a minimum registered capital needed by the Chinese Government.

 

There are mainly three types of set up costs, Government license fees , Consulting Fees for the Registration of China Consulting Company

Registered office address in China

Corporation China can provide a address to register your company in China

Corporation China will provide a registered address which will be the legal address of your company. A registered address is needed to register your company in China.
 

We Provide:

  • Registered office address
  • Contract Length: 1 to 2 years (renewable)
  • One month notice required for contract termination.
  • Property layout and other documents.
  • Leasing/Rental contract of office with tax certificate.
  • Quick and easy set up 2 – 3 days
 

Turnkey solution for business in China

Corporation China offers a Full Turnkey solution

Our Turnkey solution starts with first analyzing your business scope and operation and then strategizing the best legal and marketing path forward

Registering your Company

We take of the complete registration Registration of a China Consulting Company is simple, the limited-liability type company is called a Wholly Foreign Owned Enterprise, abbreviated WFOE or WOFE.It is a commonly used investment vehicle for mainland China-based businesses.

Registered Address

Corporation China can supply a registered address that will be the legal address of your company. A registered address is required to register your company in China.

Bank Account

Chinese Bank Account

Opening a Chinese Bank Account is a post-licensing service of ours. Corporation China has the knowledge to assist your company during the Bank Account Opening Process. To open a Bank Account you must be present at the bank but you will be accompanied with an assistant helping with translation and ensuring that the process is done correctly.

Tax & accounting

ACCOUNTING SERVICES Corporation China we help run your company, take charge of all you accounting needs , tax filling and do all the correspondence with the government and relevant bureaus regarding your company Corporation China will assign a TOTAL SUPPORT™ Account Manager to your Company as a single point of contact , thus enabling you to build a good relationship and help us understand your business

Legal Services

China Legal Services

Our experienced PRC lawyers in China could provide you with the following China legal services in China foreign investment: Corporate Finance Corporate restructuring and reorganization of PRC companies for the purposes of listing on overseas stock exchange markets, legal diligence and issuance of relevant PRC legal opinions. China Merger and Acquisition Mergers and acquisitions by and between enterprises with China foreign investments, companies listed in China and overseas, and domestic companies, spin-offs and other restructuring transactions, venture capital transactions, etc. China Foreign Investment Initial investment planning and due diligence, establishment of foreign invested enterprises in Shenzhen, Beijing, Shanghai, and other cities in China, operations support service to foreign invested enterprises, restructuring and liquidation, registrations and filings with government authorities, setting up of Hong Kong and offshore companies as investors of foreign invested enterprises, etc. China Intellectual Property Prosecution and litigation for inventions, utility models, and design patents, trademarks, trade names, copyright, computer software; unfair competition, trade secrets, technology transfers, licensing, franchising, China intellectual property enforcement and anti-counterfeiting, due diligence on China intellectual property rights. Banking and Finance Foreign exchange control, loans, foreign debt registration, preparation of legal documentation and related matters. China Dispute Resolution Background searches and asset preservation actions, civil and criminal proceedings, including assessment of claims and development of strategy, trial and appeal, arbitration, mediation and other alternative dispute resolution proceedings, enforcement of court judgments and orders.

HR & Payroll

China HR & Recruitment

This is the most commonly outsourced HR function and involves monthly payroll processing as well as the calculation of monthly employer and employees? Social benefits contributions to the relevant Chinese authorities

HR Administration & Consulting Services

China’s employment environment is complex due to the need to integrate national laws and local policies

YINGKE HR

GO TO MARKET STRATEGY

GO TO MARKET STRATEGY

Qualitative Research

ConsumerView brings Chinese consumers together to gather deep insights into various segments of consumer’s across China. An understanding of sentiments, engagement, current trends and opinions toward products and services. ConsumerView is the starting point in understanding the target Chinese Consumer for our clients.
 
ChinaPulse collects valuable insights from a sample source of 150,000 online Chinese consumers which is then segmented across Tier’s 1, 2 & 3 cities with full offline access to Tiers 4 & 5 if needed. The sampling frame for ChinaPulse was developed in 2013 in conjunction with the National Bureau of Statistics. WeChat Marketing ,WeChat is the fastest growing app in China with currently over 600 million users. WeChat Marketing is a must for brands in China In Partnership with

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Superior research based consulting using the best talent, technology and world-class solutions

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Strategy and taking care of all the back office work , so that you can concentrate on DOING BUSINESS!

How much money do I need to set up?

Basically the starting fees and Government License fees, Let us know what you intend setting up and we can send you a detailed proposal.

How Fast will the set up take?

Most companies in China quote 3-9 months, BUT Corporation China can normally set it up in under 6 weeks (and we know what the next question will be)

Why can Corporation China set up the Company so fast?

Its a Chinese word called ” Guanxi.” we have been doing this for a long time and know the law backwards.

How much is the Registered Capital?

NO REGISTERED CAPITAL NEEDED With Corporation China (and only with us) we can arrange a Registered Capital that does not need to be paid up , this means you can choose any Registered Capital , but you never have to inject it , unless you want to.

What is the fastest way to get set up ?

The fastest way is setting up a Hong Kong company, as all the documents are already in Chinese and Hong Kong is also a Tax Free zone so all profit can be sent from your China Company to its Holding Hong Kong company, saving of taxes. You can download our WHY HONG KONG PDF here>

How to choose a Chinese company name (as I don't speak Chinese)?

Corporation China can assist your company with that , its can be a “sounds like the English name” ( as in the case of Mcdonalds where it goes by the Chinese name of 麦当劳 Màidāngláo) or a good meaning Chinese company name , but at the end of the day most companies still use their English name for marketing and logos.

Do I need to go to China to get started?

No, we can set 99% up by email, You will need to come to open the bank account once the company has been set up only if you are the Legal Person of the company.

Can Corporation China povide a Virtule type office and China Telephone number ?

Yes , we have many offices in China and we can provide you a Virtual Address to put on your business card and a telephone number answered in your company name or diverted to anywhere in the world. More info

If I contact Corporation China, can you understand me?

At Corporation China we privileged to have staff from all over the world working in our China Offices, here is a few the languages we speak : English, Italian, Swedish, Finnish, Dutch, French, Spanish, German, Portuguese, Afrikaans, Japanese, Shanghainese, Cantonese and of course Mandarin and some Chinglish (Chinese English). Wholly Foreign Owned Enterprise

Why use Corporation China?

The main reason is we are also foreigner’s , we also have a WFOE so over the past 10 years or so , opening many companies from Banks to restaurants we have a wealth of experience and we really understand what you need to get running quickly and economically.

Where are your offices located?

Wholly Foreign Owned EnterpriseCorporation China has branches in Beijing , Shanghai , Guangzhou , Shenzhen , Xiamen , Hong Kong and overseas branch offices in London , Singapore , Switzerland ,Lisbon, Cape Town ,Dubai and Miami USA See our Contact us

+ Full Info

Wholly Owned Foreign Enterprise (WOFE) China incorporation – Shanghai, Beijing, Shenzhen , Guangzhou

Types Of WOFE’s
  1. Consulting or Service WFOFE.
  2. Manufacture or Factory type WOFE
  3. Trading WOFE – Wholesale, Retail or Franchise in China
  4. FICE (Foreign-Invested Commercial Enterprise) FICE Registration

– Business Scope The Business Scope is narrowly outlined and understood for all businesses in China; a WFOE could solely wrongfully conduct business at intervals the business scope that seems on its business license. In the application documents, the business scope is written as a listing of business activities that the WFOE can conduct in China, and therefore the initial commercial activity can outline the general nature of the WFOE for classification functions. The classification can any outline the minimum needed capital, style of invoices, style of applicable taxes, etc. in concert example, for a previous WFOE registration, the company’s business scope was written as “retail of cosmetic merchandise, coaching on cosmetic merchandise, after-sales services.” the character of this WFOE was thus outlined by the Chinese authorities as a “retail-trading WFOE”, so the desired registered capital was RMB300,000, and it had been ready to receive the Value-Added-Tax invoices that area unit essential to a commerce company in China. Because the scope of business is crucially vital within the WFOE business registration application, we have a tendency to perpetually confers with the suitable officers to make sure each|that each} commercial activity that’s listed on the registration application is AN approved commercial activity which every commercial activity is intended as broadly speaking as allowable in order that shoppers is a lot of versatile in what activities they’re allowed to conduct. {we will|we’ll|we area unit going to} not submit AN application till we have a tendency to are assured that the appliance data follows the pertinent rules and laws which it’ll permit our shoppers to attain the most edges of running their businesses in China. – Registered Capital and Total Investment Quota Registered Capital and Total Investment Quota area unit 2 vital sorts of capital that the Chinese officialdom can check to make sure that each area unit listed properly. The amounts for each sorts of capital can seem on the Approval Certificate and Business License. Registered Capital is that the quantity of funds that the Chinese government needs of foreign investors to contribute to their comes in China (e.g. WFOE`s). The Chinese government sets necessities for the minimum quantity of registered capital to start out a business. Registered Capital should be of AN quantity bigger than the minimum demand of the China Company Law (currently RMB100,000). The Registered Capital will solely come back from the foreign investors, ANd should be really paid into the corporate checking account then verified by an freelance certified accounting agency in China. the number of registered capital is augmented however official procedures are going to be needed. Registered Capital should be no but seventieth of the entire Investment Quota; but, the magnitude relation could also be shrunken once the number of Registered Capital exceeds US$ three million. The actual quantity of Registered Capital needed is subject to the ultimate approval of the approval authority. The Chinese officers have the correct to need a business to extend {the quantity|the quantity|the number} of Registered Capital if they reckon the minimum Registered Capital amount as deficient for the necessities of the startup business in line with the project description as written within the application documents. the ultimate quantity of Registered Capital needed is typically a results of negotiations with the suitable officers throughout the registration amount. Total Investment Quota is that the total quantity of funds which will be endowed within the WFOE throughout its entire planned amount of operation. the entire Investment Quota should be bigger than or capable the Registered Capital. in contrast to Registered Capital, that should be absolutely paid into the WFOE`s Chinese checking account before beginning business operations, the entire Investment Quota is that the total quantity of funds planned to be contributed to the project over its period of time and it doesn’t essentially need to be absolutely deposited within the bank. the surplus quantity of the entire Investment Quota over the Registered Capital will come back from sources aside from the foreign investors listed within the Articles of Association of the WFOE; for instance, it is borrowed from banks or different sources either within China or from overseas. This quantity is augmented however any extra amounts of Total Investment Capital should be approved by the relevant Chinese authorities. Summary Compared to registering a business in most Western countries, registering a business in China is difficult work full of work and functionary procedure. it’s much not possible to properly complete the registration method while not a certified agency. take care that the agency is qualified and therefore the agency has smart connections and relationships with the assorted native authorities, which they possess comprehensive data concerning the many vital aspects committed wrongfully and properly registering a WFOE.

 

Wholly Owned Foreign Enterprise (WOFE) China incorporation

A Wholly foreign-owned enterprise (WFOE) could be a company established in China in line with Chinese laws and wholly closely-held by one or a lot of foreign investors. A WFOE could be a financial obligation company, which means that the liability of the shareholders is restricted to the assets they delivered to the business. not like the easier representative workplace setup that is subject to variety of limitations, a WFOE will create profits and issue native invoices in RMB to its customers, that is crucial as invoices ar the premise for getting tax deductions in China. Compared to a venture, a WFOE has bigger freedom and independence, and might higher shield its intellectual properties. It may use native employees directly, while not obligation to use services from employment agencies. though there’s no legal restriction on the amount of foreigners a WFOE will use, in follow the amount of foreign staff will depend upon the quantity of registered capital (discussed below) that the various company injects. The Chinese government’s initial aim in allowing the institution of WFOEs in 1986 was to introduce advanced technology into China and to encourage export-oriented producing activities. Since then, the scope of business allowed to WFOEs has steady inflated. After connexion the planet Trade Organization in 2001, WFOEs were allowed in consulting and management services, software, development and commerce. any sectors are more and more unfolded within the course of the past few years. The elementary legal bases for WFOEs are: Law on Foreign-invested Enterprises (“WFOE Law”), effective April twelve, 1986 and later on revised on Gregorian calendar month thirty one, 2000; Implementing Rules of the WFOE Law, effective Gregorian calendar month twelve, 1990 and later on revised on April twelve, 2001; and Company Law, effective January one, 2006. WFOE Setups There ar 3 distinct WFOE setups: Service (or Consulting) WFOE; commerce WFOE (or Foreign-invested industrial Enterprise, “FICE”); and producing WFOE. While all 3 structures share identical legal identity, they dissent considerably in terms of setup procedures, prices and also the vary of business activities during which they’re allowed to have interaction. commerce WFOEs and producing WFOEs should derive the bulk of their revenue from that main business, however may offer associated services. Meanwhile, some Service WFOEs may conduct commerce activities associated with their services. When applying to line up a WFOE, the business scope should be per the applying. The business scope could be a one sentence description of the business activities during which a business can have interaction, and can seem on the business license. Note that the WFOE will solely conduct business activities at intervals its business scope and any amendments to the business scope need any application and approval, and might be quite time intense. we tend to embody samples of the business scope for every WFOE setup below. Service WFOE A Service WFOE could be a company that has as its core activity the availability of services to 3rd parties. it’s the simplest style of financial obligation company to line up because it needs a shorter institution time-frame and a lower capital demand compared to a commerce WFOE or producing WFOE. Below is associate example of the business scope for a Service WFOE that gives technical services: “To offer XXX technical services and consulting services for XXX technologies; technology transfer, technology consulting and technology development; and wholesale, import and export of connected product related to the availability of aforementioned technical consulting services and commission agency services (excluding auction) and different connected services.” Trading WFOE To engage in import and export activities still as domestic distribution (i.e., retail, wholesale and franchising trade activities) in China, a commerce company – additionally called a mongrel – may be established. commerce WFOEs will mix completely different business activities, e.g., collection and providing services. Below is associate example of a business scope for a FICE: “Wholesale, commission agency (excluding auction), import and export of XXX products; after-sales services; technology transfer; technology consulting; technology development and different business consulting services.” Manufacturing WFOE Manufacturing WFOEs ask corporations engaged in industries like machine producing and electronics; energy; building materials and construction; medical equipment; transportation; and animal and plant raising and breeding. a producing WFOE is needed to rent a industrial plant house as its registered address. The native Administration of business and Commerce (AIC) can physically check the industrial plant house before registering the WFOE. additionally, producing WFOEs ar needed to get approval from the Environmental Protection Bureau. In some cases, a full report on the calculable environmental impact of the industrial plant issued by associate appointed agent is needed, that is meant to confirm that producing production processes fits nominative environmental norms. The Bureau would require info concerning the raw materials used, the machinery and instrumentation, consumption and safe disposal of cyanogenetic product. associate example of the business scope of a producing WFOE is: “Design, develop and manufacture XXX product and connected components and elements, sale of self-manufactured products; wholesale, import and export of comparable product and commission agency (excluding auction); provision of after-sale services and different associated services to the products; technical consulting, technical development and technology transfer.” Registered capital Registered capital is that the initial investment into a corporation that’s needed to fund its business operations till it’s in a very position to fund itself. absolutely the minimum capital needs beneath Chinese law ar RMB30,000 for multiple stockholder corporations and RMB100,000 for single stockholder corporations. In follow, however, the official needs for registered capital vary by business and region. With producing WFOEs, for instance, the minimum registered capital is RMB1 million, subject to concerns like industrial plant size and instrumentation prices. Meanwhile, Service WFOEs usually need on top of RMB100,000 and mongrel need on top of RMB500,000 for VAT functions. Generally, locally-obtained RMB can not be injected as registered capital – it should be offshore RMB or RMB reborn from foreign currency sent in from the overseas capitalist. Subject to approval from the relevant authority, a distant capitalist will create capital contributions with RMB gained by different foreign-invested enterprises they need established in China. RMB isn’t a freely convertible currency, thus beneath China’s pre-existing interchange administration regime, foreign investors have solely been ready to establish associated capitalize an FIE mistreatment foreign currency, which might then be reborn into RMB once the capital injection is finalized. However, as offshore RMB holdings have continued to grow, this previous rule has return harassed. starting in 2011, foreign investors were allowed for the primary time to use offshore RMB holdings to capitalize or acquire a Chinese FIE, and to fund its operations by means that of a cross-border RMB loan. mistreatment offshore RMB to ascertain associate FIE offers variety of benefits over the employment of ancient foreign currency. for instance, currently-held offshore RMB could also be used while not the expense of conversion, and exposure to volatility in foreign currency exchange rates may be lessened. For corporations heavily concerned in cross-border trade and investment with China, these reasons alone could also be enough. Registered capital contributions may be created in-kind (e.g., machinery and instrumentation, industrial property rights, know how). Any machinery and instrumentation contributed should be necessary to the assembly of the WFOE involved and valuated at traditional value. an in depth list of valuated and priced things ought to be submitted as a part of the applying. once the machinery and instrumentation contributed reach a port in China, the WFOE ought to report back to the trade goods review authority in China associated apply for an review, associated an review report ought to be issued. In ought to be noted, however, that any industrial property rights or ability contributed shouldn’t exceed twenty % of the registered capital. It should even be closely-held by that foreign capitalist and valuated in accordance with general international principles. The payment schedule of the registered capital ought to be per the WFOE application for institution and its articles of association. The foreign capitalist will pay the capital contribution by installments, however the ultimate installment ought to be paid up at intervals 3 years following the issuing of the business license. the primary installment ought to be no but fifteen % of the capital contribution signed by the foreign capitalist, and paid up at intervals ninety days of the issuing of the WFOE’s business license. once payment of every installment of capital contribution, the WFOE ought to have interaction an authorized public businessperson in China to verify and issue a capital verification report.

Keywords: Wholly Owned Foreign Enterprise (WOFE) China incorporation

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IN CHINA new A rule that is brand new foreign employees’ social security in impact starting October 15, 2011. It’s stated that if an organization hires a employee that is foreign the organization shall register this worker aided by the neighborhood social security authority within 30 times regarding the employee receiving their work license. Introduction of wholly foreign owned enterprise (WFOE) GENERAL income tax INFORMATION Registered capital could be the quantity that its needed to operate the continuing business until it could break also – the ‘minimum registered capital’ is a guideline only. You will go out of cash soon, that leads to increased expenses in reapplying for authorization to improve capital, additional licensing fees and renewals of business licenses and therefore on in the event that you do searching for the absolute minimum registered capital, for example RMB 30,000 (that is impossible to run a WFOE in China) this means. The WFOE needs funding via it’s registered capital until it is able to aid it self from its cash that is own flow. Registered Capital: USD$140,000 is a investment that is decent for all kinds of WFOE. (with USD$ 140,000 investment it is an easy task to get authorized). RMB 100,000 ~ RMB 500,000 (Approx. USD$15,000- 75,000) could be the advisable as minimal investment money become authorized for Consulting WFOE, Service WFOE, Hi-Tech WFOE enrollment in China. The stability must be remitted within 2 years after the approval, initial paid-up money should really be inserted within 3 months which may be 20% regarding the registered capital. Greater effectiveness in operations, future and administration development. The minimum registered capital guides for different industries in accordance with our practice in China, for example Beijing, Shanghai, Guangzhou, Shenzhen, Ningbo & Hangzhou are listed below: A WFOE in China would be significantly more complicated than establish a New WFOE to shutting straight down or de-registration. Maybe it’s stuck here if the liquidation report cannot be approved by neighborhood taxation authority, thereafter, investor has to invest amount that is excellent of on the closure of a WFOE. Think it is right here about needed documents, procedures and cost to deregistration a WFOE in China. Contact our offices below to have an evaluation that is without any WFOE. In China, terms of 15 to three decades are typical for a manufacturing WFOE (however some could have a lengthier term). It’s also feasible to get extensions of the WFOE’s duration. The word of WFOE may be extended to 50 years for projects where the quantity of investment is big, or the construction period is long as well as the return on investment low, projects producing advanced services and products using higher level or key technology provided by the foreign partner, or even for tasks producing internationally competitive services and products. The definition of may be also longer than 50 years with unique approval through the State Council. Introduction of WFOE In the event that WFOE is allowed doing Consultancy or Service, it’s called by us Consultancy (or Service) WFOE. The registered capital of a Wholly Foreign Owned Enterprise (WFOE) is subscribed and added entirely by the investor( that is foreign). A WFOE will not include branches established in China by foreign enterprises and other foreign companies which are financial. The Laws that is chinese on don’t have a clear concept of the term of “branches”. The word of “branches” should include both the branch companies involved in operational activities and offices which are representative which can be not engaged in direct company activities. Consequently, branches and workplaces that are representative up by foreign enterprises are not WFOE. Various kinds of WFOE Food & Beverage WFOE RMB 500,000 ~ RMB 1 million (Approx. USD$ 75,000- 140,000) Since China still keeps money that is foreign policy, it’s still better to choose registered capital within RMB 100,000 ~ RMB 500,000 as the minimum registered capital for Consulting WFOE, Service WFOE, Hi-Tech WFOE registration in Shanghai, Beijing, Shenzhen, Tianjin, Guangzhou, Hangzhou, Ningbo, Suzhou, Chengdu, Chongqing, Wuhan, Xi’an and lots of other urban centers of China. (Investor could inject the money that is above 2-10 years) Information provided below will show you to: The Wholly Foreign Owned Enterprise (WFOE) is an obligation that is bound wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for motivated manufacturing activities which were either export orientated or introduced technology that is advanced. However, with China’s entry into the WTO, these conditions had been gradually abolished and the WFOE is increasingly being used for providers such as a variety of management and consulting solutions, software development and trading also. ANNUAL AUDIT REPORT Deregistration of a ongoing company(WFOE) in China (Shanghai, Beijing, Shenzhen, Tianjin, Ningbo) Features of WFOE PROFIT REPATRIATION Some great benefits of developing a WFOE include, but aren’t limited by: Business scope Service WFOE RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) The WFOE may be ended under specific conditions. For instance, the inability associated with WFOE to operate because of losings that are hefty or into the occurrence of an event of force majeure, etc. Trading WFOE / FICE RMB 300,000 ~ RMB 1 million (Approx. USD$ 75,000- 140,000) Full control of hr iconPart time services being accounting WFOE incorporated in China Since Jan. 2008, China’s brand new tax that is business range from15% to 25%. (the price depends on the places where the organization is registered and the industry that a company involved). Please check out the latest Corporate Income Tax Law of China, ( 193KB: Corporate Income Tax Law of China ) All enterprises have to are accountable to the Tax Administration Department monthly, quarterly and annually. Path To China provides in your free time services that are accounting our clients, you are invited to e mail us to find out more. Wholly Foreign Owned Enterprise (WFOE) Nevertheless the quantity of registered capital needed is also dependent upon facets like range of location and company. In reality, neighborhood authorities will review the feasibility study report (and check the lease agreement) accept the investment on a basis that is case-by-case reduced registered capital are negotiated in some instances. Consulting WFOE* RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) Fees for WOFE enrollment (Shanghai, Beijing, Shenzhen, Tianjin, Hangzhou, Ningbo etc.) China Government enables Foreign Invested companies remit their profits out from the nation and such remittances don’t require the approval that is prior of State Administration of Foreign Exchange (SAFE). Dividends cannot be distributed and repatriated offshore in the event that losings of previous years haven’t been covered while dividends not distributed in past years may be distributed as well as those regarding the 12 months that is current. Repatriating the money that is registered home nations is forbidden through the term of business operation. There are many organizations for WFOEs. Listed here are often opted for by our clients: In the event that WFOE manufacture right here, it’s called by us a it’s Manufacturing WFOE. Documents Required & Registration Procedures of WFOE Paid and registered up money Any limited businesses in China should summit audit that is yearly to the relevant authorities. The audit that is yearly is all about RMB 6,000. Any company will be subject be to a superb if the Annual Audit Report just isn’t submitted in a fashion that is timely. Ability to formally execute company in place of simply work as a office that is representative having the ability to issue invoices to customers in RMB and accept revenues in RMB; DE-REGISTRATION Manufacturing WFOE RMB 500,000+ (Approx. USD$ 75,000+) If the WFOE is permitted to do trading, wholesale, retail or franchising in China, we call it a Trading WFOE or foreign-Invested enterprise that is commercialFICE). (You can check “FICE Registration” on the menu that is appropriate more information and details about the FICE) In Mainland China, you will find 4 modes of business presences for foreign investors: WFOE(65%), Representative Office(20%), FIPE(10%), Joint Venture(5%). A roughly contrast between these 4 modes, check out the Comparison Chart about 65percent of PtC’s consumers chose WFOE as their China company entity since a WFOE could freely conduct it is business in China like anybody Chinese domestic companies. Hi-Tech WFOE RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) TERMS AND TERMINATION Capacity for transforming RMB profits to US dollars for remittance to its moms and dad business outside of China; new1 Year all Package that is inclusive formation, accounting and audit all included) One of the very dilemmas which can be important WFOE application is company scope. Company scope has to be defined as well as the WFOE can simply conduct business within its company that is approved scope which ultimately seems on the company license. Any amendments to the continuing company scope need further application and approval. Inevitably, there is a negotiation aided by the approval authorities to approve as broad an ongoing business scope as is permitted. Generally business scope includes investment consulting, international consulting that is financial trade information consulting, marketing and promotion consulting, corporate administration consulting, technology consulting, manufacturing, etc. With China’s entry into WTO, more company is available to WFOE specially in Trading, Wholesale and business that is retail. Protection of intellectual technology and know-how; new Investor’s moms and dad business does perhaps not need certainly to be established for a lot more than 2 years while for Representative Office, it’s parent company is needed to have been founded for over a couple of years. Independence and freedom to implement the worldwide techniques of its parent business without having to think about the participation for the partner that is chinese TERMS AND TERMINATION New Investor’s moms and dad company does perhaps maybe not need to be founded for a total great deal more than 2 years while for Representative Office, it’s parent company is necessary to have been started for over after some duration. Introduction of wholly foreign owned enterprise (WFOE) iconPart time services being WFOE that is accounting incorporated China Greater effectiveness in operations, administration and future development. Features of WFOE Protection of intellectual knowledge and technology; Any limited businesses in China should summit audit that is yearly to the authorities that are appropriate. The review that is annually is exactly about RMB 6,000. Any business will be subject be to a superb if the Annual Audit Report just is not submitted in a fashion that is timely. Manufacturing WFOE RMB 500,000+ (Approx. USD$ 75,000+) Independence and freedom to implement the global techniques of its moms and dad company without the need to consider the involvement for the partner that is chinese Fees for WOFE enrollment (Shanghai, Beijing, Shenzhen, Tianjin, Hangzhou, Ningbo etc.) Paid and registered up money Documents Required & Registration Procedures of WFOE Wholly Foreign Owned Enterprise (WFOE) Business scope Nonetheless the amount of registered capital required can also be influenced by facets like array of business and location. In truth, neighbor hood authorities will review the feasibility study report (and check out the lease contract) accept the investment on a basis that is reduced that is case-by-case money are negotiated in some instances. Hi-Tech WFOE RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) Registered Capital: USD$140,000 is a investment that is decent for a variety of WFOE. (with USD$ 140,000 investment it really is an task that is easy get authorized). RMB 100,000 ~ RMB 500,000 (Approx. USD$15,000- 75,000) could be the advisable as minimal investment money become authorized for Consulting WFOE, Service WFOE, Hi-Tech WFOE enrollment in China. The stability needs to be remitted within 24 months after the approval, initial paid-up money ought to be placed within 3 months which can be 20% about the capital that is registered. Service WFOE RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) Since Jan. 2008, China’s brand taxation that is new is business range from15% to 25per cent. (the cost depends on the places where the business is registered as well as the industry that a company included). Please take a look at latest Corporate Income Tax Law of China, ( 193KB: Corporate Income Tax Law of China ) All enterprises have to are accountable to your Tax Administration Department monthly, quarterly and annually. Path To China provides in your free time solutions that are accounting our customers, you’re invited to call us for more information. REVENUE REPATRIATION In Mainland China, you shall find 4 modes of company presences for foreign investors: WFOE(65%), Representative Office(20%), FIPE(10%), Joint Venture(5%). an approximately contrast between these 4 modes, read the Comparison Chart about 65percent of PtC’s customers opted for WFOE as their China company entity since a WFOE could freely conduct its business in China like anybody chinese businesses that are domestic. The WFOE may be ended under specific conditions. For instance, the shortcoming connected with WFOE to run due to losings that are hefty or to the occurrence of an event of force majeure, etc. A WFOE in China would be significantly more complicated than establish a New WFOE to shutting straight down or de-registration. Maybe it is stuck here in the event that liquidation report may not be authorized by neighborhood taxation authority, thereafter, investor needs to spend quantity that is exceptional of regarding the closure of a WFOE. Believe that it is the following about needed documents, procedures and cost to deregistration a WFOE in China. Contact our offices below to have an assessment that is without any WFOE. Consulting WFOE* RMB 100,000 ~ RMB 300,000 (Approx. USD$ 15,000- 50,000) Different forms of WFOE Food & Beverage WFOE RMB 500,000 ~ RMB 1 million (Approx. USD$ 75,000- 140,000) Power to formally perform business in place of just act as a functional workplace that is representative to be able to issue invoices to clients in RMB and accept revenues in RMB; DE-REGISTRATION In China, terms of 15 to three decades are typical for a manufacturing WFOE (however some might have a lengthier term). It is additionally feasible to obtain extensions regarding the WFOE’s length. The term of WFOE may be extended to 50 years for tasks where the amount of investment is big, or the construction duration is long plus the return on investment low, projects producing advanced level solutions and services and products making use of higher rate or technology that is key by the foreign partner, or even for tasks producing internationally competitive products. The definition of can be additionally longer than 50 years with unique approval through the constant state Council. In the case that WFOE is allowed Consultancy that is doing or, it’s called by us Consultancy (or Service) WFOE. Certainly one of the dilemmas that is extremely could be important WFOE application is company scope. Business scope needs to be thought as well due to the fact WFOE can conduct company within merely its company that is authorized range which ultimately appears on the organization license. Any amendments to your business that is continuing need further application and approval. Inevitably, there was a negotiation aided by the approval authorities to approve as broad an business that is ongoing as is permitted. Generally business scope includes investment consulting, international consulting that is financial trade information consulting, advertising and promotion consulting, corporate management consulting, technology consulting, production, etc. With China’s entry into WTO, more business is available to WFOE especially in Trading, Wholesale and business that is retail. The minimum registered capital guides for different companies in accordance with this training in China, for instance Beijing, Shanghai, Guangzhou, Shenzhen, Ningbo & Hangzhou are detailed below: China Government allows Foreign Invested organizations remit their profits out of the country and remittances that are suchn’t need the approval that is prior of State Administration of Foreign Exchange (SAFE). Dividends cannot be repatriated and distributed overseas in case losings of previous years have not been covered while dividends not distributed in past years might be distributed too as those about the year that is present. Repatriating the money that is registered house countries is forbidden through the definition of of business operation. Full control of hr Capacity for transforming RMB profits to US bucks for remittance to its mothers and dad business outside of China; ANNUAL AUDIT REPORT A rule that is completely new foreign employees’ social security in impact October that is beginning 15 2011. It is stated that when a company hires a employee that is foreign the business shall register this worker along with the neighbor hood safety that is social within 30 times about the employee getting their work permit. Introduction of WFOE In case WFOE manufacture here, it is called by us a it’s Manufacturing WFOE. Deregistration of a business that is ongoingWFOE) in China (Shanghai, Beijing, Shenzhen, Tianjin, Ningbo) The Wholly Foreign Owned Enterprise (WFOE) is an obligation that is bound wholly owned by the investor( that is foreign). In China, WFOEs had been initially conceived for motivated production tasks that have been export orientated or either introduced technology that is advanced. But, with China’s entry to the WTO, these conditions had been gradually abolished and also the WFOE is increasingly being useful for providers such as for example a number of management and solutions that are consulting computer software development and trading also. The capital that is registered of Wholly Foreign Owned Enterprise (WFOE) is subscribed and included entirely by the investor( that is foreign). A WFOE will not add branches created in China by foreign enterprises along with other organizations that are foreign are economic. The Laws that is chinese on do not have a concept that is free from term of “branches”. Your message of “branches” should add both the branch businesses involved in functional tasks and workplaces that are representative which could be maybe not engaged in direct business tasks. Consequently, branches and workplaces that are representative up by foreign enterprises are not WFOE. GENERAL tax INFORMATION There are lots of companies for WFOEs. Listed right here in many cases are opted for by our clients: IN CHINA new If the WFOE is allowed doing trading, wholesale, retail or franchising in China, we call it a Trading WFOE or enterprise that is foreign-Invested is commercialFICE). (You can check “FICE Registration” on the menu that is appropriate more details and details about the FICE) Trading WFOE / FICE RMB 300,000 ~ RMB 1 million (Approx. USD$ 75,000- 140,000) new1 Year all Package that is formation that is inclusive accounting and audit all included) Registered capital could end up being the volume that its needed seriously to operate the company that is continuing it may break also – the ‘minimum registered capital’ is a guideline just. You goes out of money quickly, that leads to increased expenses in reapplying for authorization to boost capital, extra licensing charges and renewals of business licenses and so on in case you do looking for the absolute minimum registered capital, for instance RMB 30,000 (that is impossible to run a WFOE in China) this means. The WFOE needs funding via it is registered capital it self from its money that is own flow until with the ability to assist. Some great advantages of developing a WFOE include, but are not restricted to: Since China nevertheless keeps money that is policy that is foreign it is still safer to select registered capital within RMB 100,000 ~ RMB 500,000 while the minimum registered capital for Consulting WFOE, Service WFOE, Hi-Tech WFOE registration in Shanghai, Beijing, Shenzhen, Tianjin, Guangzhou, Hangzhou, Ningbo, Suzhou, Chengdu, Chongqing, Wuhan, Xi’an and a lot of other metropolitan centers of China. (Investor could inject the amount of money that is above 2-10 years) Information supplied below will demonstrate to:

 

Setting up a Company in China

The registration of a China Consulting or Trading Company is simple, Wholly Foreign Owned Enterprise, abbreviated WFOE or WOFE is the first and obvious choice for foreigners looking to do business in China. What is a WFOE? The unique feature of a WFOE is that the entity is 100% owned and capitalized by foreign investors and operating without a local (Chinese) partner. This maintains greater control over your businesses operations, targets and profits of the company, allowing the mother company to concentrate on its own operations. WFOE is the favorable option for an overseas company that wants to permanently incorporate into mainland China. WFOE Types

  1. Consultancy Service WFOE
  2. Manufacturing WFOE
  3. Trading WFOE – Wholesale, Retail or Franchise in China

Business Scope The Business Scope is narrowly defined and interpreted for all businesses in China; a WFOE may only legally conduct business within the business scope that appears on its business license. In the application documents, the business scope is written as a listof business activities that the WFOE will conduct in China, and the first business activity will define the overall nature of the WFOE for classification purposes. The classification will further define the minimum required capital, type of invoices, type of applicable taxes, etc. As one example, for a previous WFOE registration, the company’s business scope was written as “retail of cosmetic products, training on cosmetic products, after-sales services.” The nature of this WFOE was therefore defined by the Chinese authorities as a “retail-trading WFOE”, thus the required registered capital was RMB300,000, and it was able to receive the Value-Added-Tax invoices that are essential to a trading company in China. Because the scope of business is crucially important in the WFOE business registration application, We always confers with the appropriate officials to ensure that every business activity that is listed on the registration application is an approved business activity and that every business activity is designed as broadly as allowable so that clients can be more flexible in what activities they are allowed to conduct. We will not submit an application until we are assured that the application information follows the pertinent rules and regulations and that it will allow our clients to achieve the maximum benefits of running their businesses in China. Registered Capital Registered Capital and Total Investment Quota are two important types of capital that the Chinese government officials will check to ensure that both are listed correctly. The amounts for both types of capital will appear on the Approval Certificate and Business License. Registered Capital is the amount of funds that the Chinese government requires of foreign investors to contribute to their projects in China (e.g. WFOE`s). The Chinese government sets requirements for the minimum amount of registered capital to start abusiness. Registered Capital must be of an amount greater than the minimum requirement of the China Company Law (currently RMB100,000). The Registered Capital can only come from the foreign investors, and must be actually paid into the company bank account then verified by an independent certified accounting agency in China. The amount of registered capital can be increased but official procedures will be required. Registered Capital must be no less than 70% of the Total Investment Quota; however, the ratio may be decreased when the amount of Registered Capital exceeds US$ 3 million. The actual amount of Registered Capital required is subject to the final approval of the approval authority. The Chinese officials have the right to require a business to increase the amount of Registered Capital if they deem the minimum Registered Capital amount as insufficient for the requirements of the startup business according to the project description as written in the application documents. The final amount of Registered Capital required is sometimes a result of negotiations with the appropriate officials during the registration period.

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