Shenzhen business setup process (WFOE) will not only involve in the company licenses application with Shenzhen relevant department, but also cover many different important points before move forward.
A Wholly Foreign Owned Enterprise is a privately held limited liability company in Shenzhen in which all the shareholders are foreign. It is the most favored investment vehicle as it gives full autonomy and control to the foreign parent company.
Step 1: Define Your Chinese Business Name
The first step in the application process is to file for your official Chinese business name. There are fixed guideline that need to be followed in order for you to select an acceptable name. The business name can be the same as your brand name for your products, but as the English name is not registered in business license, only the Chinese name is selected as the business name. So please provide four proposed company names in Chinese, in order of preference. We will then work with the local authorities to determine what should be the full legal name, which will likely include the scope of business and the location. The WFOE’s English name will be unofficial and is, for the most part, up to you.
Step 2: Prepare Your Legal Incorporation Documentation
The second step is to prepare all the necessary legal forms for the company registration. Other documents include the lease contract for a rented office space or building, The lease should also be in a proper format, and typically will need to be registered with the local house management authority as they are necessary for your bank account opening and working visa process, many foreigners are confused with the lease contract to be registered with house management authority, please provide it along with the landlord’s name and contact information. Tannet can help with the negotiation on behalf of the clients to discuss with the landlord for what necessary;
Step 3: Apply For Your Approval Certificate and Business License
The next step is to actually submit the documentation and apply for a Approval Certificate and business license at the local authorities. These include the Ministry of Commerce (MOFCOM) and the Administration for Industry and Commerce (AIC). From 2016, the Shenzhen government has integrated the tax certificate and organization code license into one business license by taking the simplified procedures for licenses application. It will have a united standard credit code for each company for distinguish from other companies.
Step 4: WFOE stamps carving with local police security department
After the business license is issued by the Administration for Industry and Commerce (AIC), you will receive a message from government for the code of the stamps carving, usually the stamps will include the company stamp, financial stamp, legal representative stamp, and some other functional stamp for contracts and administrative purposes.
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 www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or Shenzhen head office hotline at 86-755-82143422, 86-755-82143512, or emailing to tannet-solution@hotmail.com.
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