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Dongguan Corporate Incorporation (JV)

Updated:2018-5-4 15:43:06    Source:TannetViews:509

Dongguan corporate incorporation (JV) is one kind of business setup in Dongguan. Dongguan Joint Venture (JV), has been acknowledged as one of the most popular way to start a new business in China, due to its relatively comprehensive supplier source of trading and manufacturing business.

Dongguan JV Incorporation
JV, also called Joint Venture, is one business established between foreign investors and Chinese business. You should check some basic details of the company:
1. To check the company name and preserve it.
Every name for a Dongguan JV needs to be approved by the relevant company registration authority. The company name for a Dongguan JV should conform with a certain name format like Dongguan+ trade name+ business scope+ limited.

2. To decide other essential factors of your company like investment entity, investment capital, business scope and registered address.
A. Investment entity: investors or shareholders that you are used to register the Dongguan JV;
B. Investment capital: the amount of capital you decide to put in the JV;
C. Business scope: what kind of specific business you plan to conduct for the JV;
D. Registered address: the address is used to register the JV.

Dongguan JV Incorporation
Dongguan JV is required to do some basic maintenance during a certain period of time each year:
1. Bookkeeping of a Joint Venture
Accounting books of a joint venture must be set up after the company registration, and must be kept in the Chinese language for several years. Audited accounts must be prepared by a domestic accounting firm on an annual basis which must be submitted to the local tax authority.

2. Taxation of a Joint Venture
Every company in Dongguan must declare tax in local tax bureaus before 15th each month. There are different categories of tax in China, and a JV may have to file various different types of tax return, monthly, quarterly or annually, including Enterprise Income Tax( with tax rate of 25%), Value Added Tax(with tax rate of 3-17%), Consumption Tax, Stamp Duty, Land Appreciation Tax, Withholding Tax (on foreign remittances), and, for a company with employees, Individual Income Tax and social security contributions, which are withheld from pay on a 'PAYE' basis.

3. Annual Filing of a Dongguan JV
Every joint venture in Dongguan much file the annual return before June each year, which refers to file the record with the local company registration authority based on the company’s basic information. 

4. Social Security Purchase for Local Employees
For a business in Dongguan, if you employ some local Chinese staff, social security purchase for every local Chinese employee is mandatory, as long as you confirm the employment relationship between a local Chinese employee and your company after signing the formal labor contract. 

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