Shenzhen Qianhai business setup is really a hot choice among plenty of investors both at home and abroad. Qianhai has been nicknamed the Manhattan of Asia in certain marketing messages. Although Qianhai isn’t your only option for a free trade zone company, it is still a hot one because it is neighboring Hong Kong, but there are ones in over 10 other cities in China. Policies and incentives vary a little bit between each, so look into the details if you’re going to incorporate your business there.
Benefits of Shenzhen Qianhai Business Setup
Qianhai is a pilot zone being used by the Chinese government to reform the country's financial systems and economy. As mentioned from the 5 year plan, financial and economic reform is high on their list of priorities and trying out new systems in Qianhai is the first step in that process.
While Hong Kong has a particularly low tax burden on businesses, with CIT pegged at just 16.5%, Qianhai goes even further, offering selected industries an extraordinarily low rate of just 15%! Needless to say, this is of course far below China's average of around 25% too.
It is not only foreign start ups in selected industries that Qianhai is after. While the low tax for companies stakes a compelling claim for Qianhai company setup, there is a similarly low IIT (Individual Income Tax) for skilled foreign workers too. Foreign talent in encouraged industries are eligible to receive financial subsidies if the amount of IIT income paid by the foreign talent on his/her salary exceeds 15 percent of his/her total taxable salary income. The promise of only being taxed at 15% now makes Qianhai as attractive a destination in Asia as Singapore or Hong Kong for many workers.
Types of Buisness Presence in Qianhai
Aside from the benefits listed above, the company types permitted in Qianhai are the same as in other areas of Shenzhen, and Mainland China as a whole. Tannet can help your business set up the following company types in Qianhai:
(1) WFOE;
(2) Joint Venture (Equity or Cooperative).
Procedures for Business Setup in Qianhai
The setup process is much the same as is followed by Tannet elsewhere in Shenzhen, but as it is in the Qianhai zone, Tannet will:
1. Apply for the company name;
2. Gain pre-approval to register the company;
3. Prepare the application with you;
4. Submit the application to the Qianhai authorities for approval;
5. Once approved, submit the application to the secretary of commerce to register the company;
6. Complete registration process;
7. Once registration is complete, return legal documents to you and your Qianhai company will be open and ready 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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