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Zhejiang Company Registration (WFOE)

Updated:2018-9-18 16:48:02    Source:www.tannet-group.comViews:454

Zhejiang company registration (WFOE) refers to incorporate a wholly foreign owned enterprise (abbreviated as WFOE) in Zhejiang. Zhejiang is an eastern coastal province of China, which is bordered by Jiangsu and Shanghai to the north, Anhui to the northwest, Jiangxi to the west, and Fujian to the south. Zhejiang is one of the richest and most developed provinces in China. Its main manufacturing sectors are electromechanical industries, textiles, chemical industries, food, and construction materials.

In recent years, Zhejiang has followed its own development model, which is based on prioritizing and encouraging entrepreneurship, an emphasis on small businesses responsive to the whims of the market, large public investments into infrastructure, and the production of low-cost goods in bulk for both domestic consumption and export. In this exposition, Tannet briefly introduce how to establish a WFOE in Zhejiang.

Brief Introduction to WFOE
Wholly Foreign-Owned Enterprise (WFOE) is one of ways for foreign investors entering China market. It is a limited liability company with a wider business scope compared to a Representative Office (RO). For the purpose of set up a Wholly Foreign-Owned Enterprise (WFOE) (excluding restricted or prohibited industries approval by corresponding government bodies) in China, it is required to go through various approval procedures by the local subordinate of the Ministry of Commerce, administration of Industry and Commerce to obtain a business license. WFOE will be legally formed after it obtained its business license.

Advantages of WFOE
1. Independent management without Chinese participation;
2. Invoicing to clients under the name of your China Wholly Foreign Owned Enterprise and collect;
3. Protect intellectual know-how and technology;
4. Full control of human resources;
5. Have greater efficiency in operations, management, and future development;
6. Able to apply for working visa (residence permit) for its own legal personality and employees;

How to Incorporate a WFOE in Zhejiang
The process for incorporating a WFOE in Zhejiang could be concluded as four steps as listed below.
Step 1: Name pre-registration;
Step 2: Business licenses application;
Step 3: Documents required for other industries;
Step 4: Apply for enterprise seal and seal record to protect the legitimate rights of WFOE.

Basic Information Required
1. Certificate of incorporation or passport copy certified by Embassy of China or Consulate of China in investor's registered country or district.
2. Passport scan copy of Executive Director, Manager, Supervisor, and Legal Representative. Legal Representative is the one and the only one who own the authorization of signature on behalf of WFOE in China.
3. Registration capital, Business Scope, 3 Chinese name of Chinese company.
4. Office lease contract ,copy of office property certificate.
5. Letter of Authorization.

Why Choose Tannet
1. Quick and hassle-free China WFOE formation;
2. Fluent English speaking team;
3. No hidden cost and competitive rates to easy your expansion into China;
4. Over 60,000 clients and 20 years of experience in the industry.

Contact Us
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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