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Huizhou Company Registration

Updated:2018-8-3 17:36:30    Source:www.tannet-group.comViews:268

Huizhou company registration also refers to Huizhou corporate formation or Huizhou business setup. Huizhou is a city in southeast Guangdong Province, China. It forms part of the Pearl River Delta megalopolis. Huizhou borders the provincial capital of Guangzhou to the west, Shenzhen and Dongguan to the southwest. Electronics and petrochemicals are the major industries in the city. Being a member of the Greater Bay Area, Huizhou warmly welcomes various foreign investments. To facilitate people who want to invest and set up company in Huizhou, Tannet prepares an introduction of how to establish a Wholly Owned Foreign Enterprise (WFOE) in the city.

Introduction to WFOEs
The Wholly Foreign Owned Enterprise, abbreviated WFOE, is a common investment vehicle for mainland China-based business. A WFOE is a limited-liability corporations organized by foreign investors and capitalized with foreign funds. This can give greater control over the business venture in mainland China and avoid a multitude of problematic issues. WFOE is one of the best known and most widely used business entity forms due to their versatility and unique advantages.

Advantages of WFOE
1. The ability to uphold a company's global strategy free from interference by Chinese partners, and keep 100% shares owned by the foreign individuals or foreign corporations;
2. Total management control to the company within the limitations of the laws of the PRC;
3. The ability to both receive and remit RMB to the parent company or holding company overseas;
4. Increased protection of trademarks and intellectual property, in accordance with international law
5. Allow to enter into employment contracts directly with the staffs and issue the invoice or fapiao to suppliers or customers easily; If it is compared with the Representative office or branch office.

Basic Requirements on WFOEs
1. Registered Capital
The minimal capital requirements on WFOE in 99% business has been removed to aim at lowering the threshold for business startups and stimulating the foreign direct investment. But regional and industrial differences still exist.

2. Business Scope
The business scope of WFOEs is entirely Chinese characteristics, which is not quite universal in some western countries. Incorporating a WFOE in China does not mean that you can engage in any kinds of business activities. Instead, it can only operate under the business scope approved by Chinese authorities.

3. Registered Address
You could rent an office in China or freely choose our different packages of registered address to start your company right away. The registered address recommendation varies based on customers’ business plan and enterprise types in China.

General Registration Process
1. Choose an agency or legal firm that will help and counsel you during the formation process and the running of the company;
2. Choose the business scope in which you intend to operate and determine if it is encouraged, restricted or prohibited to foreigners;
3. Prepare all necessary documents to obtain governmental approval to be able to legally operate in China;
4. Apply for approval with the responsible authorities;
5. Get a business license;
6. Opening a bank account;
7. Other possible procedures to perform after getting your business license.

Tannet’ s Services for WFOEs
1. WFOE registration;
2. Accounting and tax filing;
3. Import and export license application;
4. Intellectual property protection (trademark, patent and copyright);
5. Payroll service or HR management;
6. Virtual office;
7. Working permit application for foreign staff.

Contact Us
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 South Rd, Luohu, Shenzhen, China.

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