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Nanchang Company Registration (WFOE)

Updated:2018-5-9 16:07:31    Source:www.tannet-group.comViews:571

Nanchang Company Registration (WFOE) is also known as Nanchang wholly owned foreign Enterprise (WOFE) formation. Nanchang WFOE is a limited company, the establishment of which is governed both by the Company Law of PRC and Law of the PRC on Enterprises Operating Exclusively with Foreign Capital. The registered capital of a Wholly Foreign Owned Enterprise (WFOE) should be subscribed and contributed solely by foreign investor(s). A WFOE does not include branches established in China by foreign enterprises and other foreign economic organizations.

Company Name of A WFOE in Nanchang
The name of the wholly foreign-owned enterprise is governed by "Regulations on the Management of name of Enterprises". Since WFOE is a limited liability company, its name should be in the form of "Name of City + Name of the Enterprise +Industry+ Company Limited ". There are certain restrictions on the use of Nanchang WFOE company names:

(1) It should be in Chinese;
(2) Arabic numerals, foreign characters or alphabets are not allowed;
(3) It should not have content that contradicts national policies, damages social ethics, religions and culture;
(4) It should not have content which damages fair competition and misleads the public;
(5) Unless special approval is obtained, it should not contain the following restricted words: China, Chinese, National, State. "International" is a restricted word unless it is used to designate the industry in which the company is operating, e.g. ABC International Trading Company Limited.

Registration Procedures for WFOE in Nanchang
Step 1: Application for approval of intended investment activities (project proposal). The examination and approval authority shall reply within 20 days on receipt of the proposal.

Step 2: Application for intended name to be used by the WFOE with the Nanchang Administrative Bureau for Industry and Commerce.

Step 3: Application for the approval of feasibility study, constitution (memorandum and articles of association). A feasibility study will be prepared covering financing, site selection, technological process, equipment, raw material supply, market survey, economic results, foreign exchange, infrastructure facilities, etc.

After the feasibility study report and articles of association have been approved, the applicant shall apply to the examination and approval authority, which shall issue the Approval Certificate within 3 days after receiving the application.

Step 4: Registration with the Administration for Industry and Commerce. The company may then register with Nanchang Administrative Bureau for Industry and Commerce within 30 days after receiving the Approval Certificate and apply for the business licence. Nanchang Administrative Bureau for Industry and Commerce shall issue the business licence within 10 working days to those projects approved by the examination and approval authority of Nanchang. The enterprise is deemed as established on the date when the business licence is issued.

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