Guangzhou WFOE registration refers to reigster a wholly foreign owned enterprise in Guangzhou. A WFOE enjoys a number of advantages. Below exposition introduces the benefits and required materials for the registration of a WFOE in Guangzhou.
Advantages of WFOE
Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;
Ability to formally carry on business rather than just a representative office function;
Issue invoices to their customers in RMB and receive RMB revenues. Convert RMB profits to US dollars for remittance to their parent company outside;
Cheap labor, which can lower your cost;
Not required to share profits with Chinese counterpart;
Greater efficiency in its operations, management and future development.
Application Documents for WFOE in Guangzhou
1. A project proposal and feasibility study report (in print and under the company seal);
2. Original copies of the application paper and the resolution by the Chairman of the Board of the foreign investor (in printed form signed by members of the Board and with company chop);
3. Copies of the business licenses of certificates of incorporation of the foreign investor; (usually with the permission chop from the government department.)
4. An original copy of leasing agreement with chop of the Housing Department;
5. Directors name list of board or management;
6. An original copy of the corporate ratification paper (2 copies in duplicate);
7. Two original bank credibility letters for the foreign investors, stating 7-digits bank balances, issued within 6 months in both English and Chinese language;
8. A copy of the approval paper for corporate formation and other papers for company alterations; (the original are required for check-up)
9. Notice of enterprise's name confirmation appraised by the Industry & Commerce Administrative Bureau;
10. Photos of the legal person of WFOE;
11. A copy of the stub of corporate certificate of approval.
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