Hainan company formation is also referred to as Hainan company incorporation, Hainan business setup, Hainan company establishment. Hainan is the smallest and southernmost province of the People's Republic of China, consisting of various islands in the South China Sea. Hainan's economy is predominantly agricultural, and more than a half of the island's exports are agricultural products. Tourism also plays an important part of Hainan's economy. Recently, Chinese government continues to promote opening up, Hainan becomes a perfect investment destination for investors both from home and abroad.
To facilitate people who want to invest and set up company in Hainan, here is an introduction of Types of business presence in China. Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of four modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office (RO); Foreign Invested Partnership Enterprises (FIPE); and Joint Venture (JV). In previous exposition, Tannet has introduced how to set up a WFOE in Hainan. Here, we mainly illustrate about the formation of a JV.
For a long time, setting up a Joint Venture was the only option for foreign investors wishing to enter the Chinese market. A Joint Venture consists of a Chinese and a foreign investor. In China two different kinds of Joint Ventures exist: Equity Joint Ventures (EJVs) and Cooperative Joint Ventures (CJVs).
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Key steps in setting up a joint venture in Hainan
1. Fill out the application form (sign the agreement);
2. Company name search & confirmation;
3. Pay for the services;
4. Submit the needed documents;
5. Check the documents;
6. Prepare for the statutory documents;
7. Keep clients informed of the processing;
8. Processing time depends on the registered address and business scope;
9. Hand over all the company kit to clients;
10. Sign the receipt.
More and more global investors are setting up their own presence in China in order to source products/services directly from China or enter the vats Chinese market. However, given the alien nature of local regulations and business environment there, it is critical to be proactive and fully prepared before you take the strategic move to set up your own presence in China.
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If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512 or 86-755-82143181 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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