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Shenzhen Business Setup Process

Updated:2018-4-26 15:22:12    Source:www.tannet-group.comViews:137

Shenzhen business setup process usually takes several steps. In this exposition, Tannet present a brief introduction to the registration procedures of WFOE (wholly foreign owned enterprise) in Shenzhen. As its name suggests, a wholly foreign owned enterprise, also known as a WFOE or WOFE, is a limited liability Chinese company which is invested into with 100% foreign capital and owned by only foreigners. There are typically three categories that foreign companies' new China outfit will fit into: Manufacturing; Trading; Consulting (service).

This company behaves in the same way as any other Chinese company, in that it can trade freely in China, make revenue in CNY, invoice (produce fapiaos) in CNY, can transfer profits back abroad, and can export goods. Typically speaking, a Chinese WFOE will be a subsidiary of a foreign company which is based abroad, but although a Chinese representative of this foreign company, it still operates as a standalone entity within China.

The following procedures are included when opening a WFOE:
1. Supply all government forms required;
2. Assist in filling them out correctly;
3. Name registration with State Administration of Industry and Commerce (SAIC);
4. Assist in helping you find suitable business premises within your budget;
5. Apply to open a WFOE at the local Administration for Industry and Commerce for you, be that 6. Shenzhen or Guangzhou;
7. Apply for business license;
8. Apply for the Organisation Code Certificate from the Technical Supervision Bureau (“TSB”);
9. Assist in registering with the Shenzhen State Tax Bureau (“SSTB”) and Shenzhen Local Tax Bureau (“SLTB”) - or same for Guangzhou;
10. Assist in the creation of your Chinese company seal;
11. Register with local statistics bureau;
12. Help you to open a Chinese corporate bank account (foreign currency and CNY);
13. Apply for authorization to print or purchase financial invoices (fapiao);
14. Purchase uniform invoices;
15. Register with the local career service center (for staff hiring);
16. Register with Social Welfare Insurance Center.

Following the successful application, we will return all of the documents and seal to you and then your China WFOE will be open for business.

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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