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Xiamen Company Formation (WFOE)

Updated:2018-1-17 17:45:38    Source:www.tannet-group.comViews:220

Xiamen Company Formation is a big concern to more and more investors now. Xiamen, as an important economic city Fujian Province, locates in the eastern coastal region of China. It enjoys natural advantages in developing its economy. It on the west coast of the Taiwan Straits, and is separated from Quemoy island only by a narrow stripe of water. Xiamen is a traditional trading port in southeast China and a famous tourist coastal city as well. To facilitate people who want to invest and set up a company in Xiamen, here is an introduction of Xiamen company registration.

Xiamen WFOE Formation
WFOE stands for wholly foreign owned enterprise, which is a limited liability company wholly owned by either a foreign legal entity or a foreign natural person. The foreign investors may be foreign enterprises or individuals from Hong Kong, Macau, Taiwan or overseas.

Xiamen Preferential Policies for WFOE
Although most of the preferential policies have been abrogated since January 1st, 2008, but for some sectors within some free trade zones or hi-tech development zones, qualified enterprises are still enjoying tax holidays or special financial subsidies. In 2009, preferential policies for business outsourcing sector in the 20 cites around the country are good news and good chances for those who are interested in the service industry.

Xiamen WFOE Processing Duration
1. For manufacturing enterprise: it takes 60-80 working days to finish the processing before we get the required documents ready, especially the approval papers from the fire & environmental protection bureaus.
2. For the trading enterprise: it takes 60-100 working days to finish the processing before we get required documents ready.
3. For the Consulting and technology service, it takes 60-80 working days to finish the processing before we get required documents ready
4. It takes longer time for the application of the import and export license or VAT qualification license.

Xiamen WFOE Registered and Paid-up Capitals
In Xiamen China, different business sectors are subject to different requirements. In general, the registered capital could be as low as RMB 30,000. In Xiamen, the registered capital is equal to the paid-up capital. For the trading enterprise, the registered capital is usually required RMB 500,000 or above. For the manufacturing enterprise, the registered capital is usually required RMB 1 million or above. For the service sector, such as consultancy, technology, market research and development, the registered capital is usually required RMB100, 000 or above.

All of the registered capital can be paid in one time (within 6 months after the date of the issuance of the Company's business license) or be paid for many times within two years (In the first 3 months, 20% of the registered capital is mandatory). The terms of payment is determined by the volume of registered capital. If the registered capital is paid in one time, the fee of paid-up capital verification can be reduced.

Procedures of Xiamen WFOE Formation
Step 1: Fill out the application form (sign the agreement);
Step 2: Company name search & confirmation;
Step 3: Pay for the services;
Step 4: Submit the needed documents;
Step 5: Check the documents;
Step 6: Prepare for the statutory documents; Let the investors sign the documents personally, and then submit all the documents to the government;
Step 7: Keep clients informed of the processing;
Step 8: Finish processing in 60-100 working days; (it depends on the registered address and business scope);
Step 9: Hand over all the company kit to clients;
Step 10: Sign the receipt. 

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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