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Shanghai Business Setup

Updated:2019-9-16 15:14:59    Source:www.tannet-group.comViews:68

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Shanghai is an international metropolis with abundant opportunities and a large population. There are increasingly foreign investors choose to set up a business in Shanghai. Shanghai represents the economic leading city in China, with GDP over RMB 3 trillion. Moreover, the actual use of foreign investment reaches 11.45 billion USD in the January-July period of 2019, up 13.8 percent year-on-year. During this period, a total of 4,105 foreign-funded projects were established, up 58.3 percent over the same period in 2018. Shanghai, a cosmopolitan city, have been recognized as the best place for Shanghai business setup.

Shanghai Business Setup Types
There are several types of business setup in Shanghai, the following are the most common types for business setup in Shanghai:
1. Wholly foreign owned enterprise (WFOE);
2. Representative office (RO);
3. Joint venture (JV);
4. Foreign invested partnerships enterprise (FIPE).


Procedures for Shanghai Business Setup
We compiled the materials needed for submitting to the authority for permission in Shanghai Business Setup, please find the detailed information as below:
1. Prepare ten company names and obtain the pre-approval from relevant authority;
2. Open a preliminary bank account, then deposit funds in the account and obtain the certificate of deposit;
3. Obtain capital verification report from an auditing firm;
4. Obtain registration certification “Business License of Enterprise Legal Person” from Shanghai Administration of Industry and Commerce (SAIC);
5. Obtain approval from the Public Security Bureau and setting up information registration;
6. Make company seals by seal carving company;
7. Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau;
8. Register with the local statistics bureau;
9. Register for national and local tax;
10. Open a bank account for the company and transfer registered capital to the account;
11. Apply for the authorization to print;
12. Purchase invoices;
13. File for recruitment registration with local Career Service Center;
14. Register with Social Welfare Insurance Center.

*For more detailed info, please visit our website: http://english.tannet-group.com/ or contact us by phone and mail.

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