Setting up a company in Hainan is really a popular choice for investors. Hainan has launched a 100-day event starting on May 20 to attract global investment to help advance its development as a pilot international free trade zone. There are plenty of opportunities for foreign businesses. Tannet help many tens of thousands of enterprises and business individuals successfully enter into the Chinese market with a turnkey solution from company incorporation to accounting, tax filing, auditing and payroll management. Below is a guide to set up a company in Hainan.
Why Invest in Hainan?
1. Foreign investors from sensitive countries are recommended to open bank account in Hainan, as there is no strict limitation on nationality;
2. Hainan encourages investment in those countries and regions along the Belt and Road;
3. Business setup in Eco-software Park can enjoy preferential policies, namely,
(1) the children can go to the international schools with half tuition;
(2) companies can be quickly incorporated with free physical address in one week;
(3) there are logistics warehouses around, which are ten minutes away from the trade area;
(4) there are concessions in terms of tax and about 40% of government subsidies;
(5) convenient transportation with free shuttle bus;
(6) foreigners do not need to be present during the company registration process;
(7) one-stop business setup services from name approval to the followup services like accounting and tax filing.
Market Entry Research and Analysis
Prior to commencing any establishment process of a company in Hainan, Tannet highly recommends providing a market entry advice which will address any shareholder or capital restrictions on the proposed business activities, any additional regulatory restrictions and licensing requirements. This advice is strongly recommended in light of the multitude of foreign investment restrictions and numerous licensing requirements applicable in Hainan. We will issue a market entry report according to your actual situation, which tells it is suitable for you to set up a business in Hainan or which kind of business entity is the most suitable for you.
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Types of Business Presence
Hainan is committed to creating a better environment for business people and enterprise innovation, and it will further advance construction of infrastructure on the island. It has already announced a plan to woo a million talented individuals from home and abroad, offering them preferential policies including loans and free housing.
Before setting up a business, foreign investors should determine their organizational structure. As a foreign investor, you have the following options to set up a business:
(1) Wholly Foreign Owned Enterprise (WFOE);
(2) Partnership Enterprise (PE);
(3) Representative Office (RO);
(4) Joint Venture (JV).
Set Up a Company in Hainan
Unless the State provides otherwise, the establishment of foreign investment enterprises in the Hainan Special Economic Zone shall be examined and approved by the administrative department of Hainan province in charge of economic cooperation and the agency authorized by the Hainan Provincial People's Government. Approval certificates shall be issued by the administrative department of Hainan Province in charge of economic cooperation.
Establishing a business in China is not rocket science, investors should choose their corporate structure carefully. Those who want to save time and money should carefully consider the options and seek local expertise for best results.
Tannet’s Services
In recent years, Tannet has been focusing on providing services for SMEs to invest in Hainan and offer supply and demand assistance for farmers. We are specialized in business establishment, business operation and management for running business. With three newly opened branches in Hainan, Tannet will manage all aspects of incorporation to get you a business presence in this tropical land. We offer a full range of company formation solutions and various value-added services.
Contact Us
If you have further inquiries, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Shenzhen hotline at 86-755-82143422 or Hong Kong hotline at 852-27826888, 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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