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Hainan Business Setup Benefits

Updated:2018-7-3 15:58:34    Source:www.tannet-group.comViews:125

Hainan business setup is also known as Hainan company registration, Hainan corporate formation and Hainan company incorporation, etc. Hainan is the smallest and southernmost province of the People's Republic of China (PRC), consisting of various islands in the South China Sea. Hainan Island, separated from Guangdong's Leizhou Peninsula by the Qiongzhou Strait, is the largest island under PRC control. With the government’s support and preferential policies, Hainan is becoming a popular investment destination.

Why Choose Hainan as Your Business Base?
Chairman Xi Jinping has decreed that Hainan is to be transformed into China's largest free trade zone. This should excite foreign investors who are looking for a company base or a location to open a branch office, as the Hainan authorities are now making great strides to attract your investment by offering generous and exciting incentives with the government's blessing.

Hainan's proximity to Southeast Asia and Hong Kong and the Pearl River Delta means that it's a a great base for companies involved in most businesses. However, these industries are to be given special focus by the government:

(1) Medical clinics and pharmaceutical;
(2) Agriculture;
(3) Tourism;
(4) High-tech, block-chain, e-commerce, and internet;
(5) Overseas education;
(6) Gambling / lottery.

Benefits for companies
1. Free office space near Haikou city provided for companies in agriculture and agricultural products, internet, e-commerce, and high-tech industries.
2. Internet and high-tech companies offered reduced VAT of less than 2%.
3. Profit tax reduced for qualifying new businesses. 
4. Foreign-owned companies can apply for government grants. These vary depending on the industry, but typically companies in the focus areas above will be able to apply for financial grants in order to incentivise them to move to Hainan.
5. The incentive policy for key industry projects can be negotiated specifically.
6. The local government is open to negotiation. If you have a good project you could request free land, tax benefits, or anything else that you require in order to start up in Hainan.

Benefits for foreign workers
1. Hainan is 'visa free' for citizens of 59 countries, meaning that it is easy to access.
2. Foreign workers can apply for a 2 year work permit, or 5 years if they hold a Master's degree.
3. Foreigners can also apply for a China green card (permanent residency) within a year. The applicant must work for a Hainan-based local company with a minimum salary of not less than 30K RMB per month, and a labor contract for more than 5 years.
4. Highly qualified foreign workers (Bachelor's degree level upwards) working for a Hainan-based local company can apply for a housing allowance of 2-5k RMB per month from the local government.

Contact Us
If you have further enquire, 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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