How does foreigners register a company in China? Perhaps it's really a question for thoes who want to set up businesses in this rejuvenating oriental country. China is the new "Wild West". If you find that piece of gold you can strike it big!
There is a specific process that you have to go through if you want to set up a business in China. It can be roughly broken down into 9 steps. There is also a specific set of documents that you will need. The costs and time-frame are important considerations too. These vary by the region in China and also by the industry that the business is in.
As a guideline it’s possible to say that the minimum time-frame is between 60 and 90 days. The minimum capital that has to be invested in the business at the start is around US$20,000. Below is a list of the documents needed and the process to go through to set up a Wholly Owned Foreign Enterprise (WOFE) in China.
I. Required Documents
1. Copies of passports or ID cards of all investors in the company;
2. If the investor is an overseas company, it must provide a company registration certificate;
3. Two two-inch photos of the executive director;
4. Telephone number and fax number of the company to be established;
5. A profile of the new company including details about:
(1) The field of activities;
(2) Estimated turnover;
(3) Estimated number of staff;
(4) Estimated profit of the new company;
(5) Original copies of the overseas bank references of each investor. This is to prove credit worthiness of the investors;
(6) Original copy of the tenancy agreement of the registered office.
Note: It’s very important to note that the original copy of the passport of the individual investor and the original copy of the passport of the executive director will be thoroughly scrutinized by the Chinese Government.
II. Process for WFOE Registration in China
1. Approval by Development & Reform Commission;
2. Approval and filing with Foreign Trade & Economic Bureau;
3. Registration with Administration of Industry & Commerce;
4. Obtain Organization & Institution Code Certificate;
5. Make your Company Stamp, Legal Person Stamp, and Company Finance Stamp (for banking);
6. Obtain Tax Registration Certificate from the Tax Bureau;
7. Open a Corporate Bank Account;
8. Filing for Registration of Foreign Currency International Remittance with State Administration of Foreign Exchange (your local branch);
9. Filing for Registration of Import & Export Goods and Equipment with Chinese Customs.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at 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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