Horgos company incorporation has attracted tens of thousands of companies from the film and media sectors since it was designated as an Economic Development Zone by the central government in 2011. Horgos is a frontier city 670 km from Urumqi, capital of Xinjiang Uygur Autonomous Region. This small city offers favorable policies including huge tax breaks to attract cultural and entertainment companies to register in the city.
To further enhance local economic construction, the government has given priority to supporting software development, technical service, film and television production, video production, network technology, information technology, information consultation, advertisement production and other sectors, and has successively introduced a series of tax incentives and industrial support measures to encourage entrepreneurs to invest in Horgos.
Requirement on Company Registration in Horgos
1. Company Name
The name of the company is generally composed of four parts, for example,
(1) Administrative division + Company name + Industry characteristics + Organization form;
(2) Company name + (Horgos) + Industry characteristics + Limited company;
(3) Company name + Industry characteristics + (Horgos)+ Limited company.
2. Shareholder and Director
One Chinese citizen, a natural person or a legal person who is at the age of 18 years old and above.
3. Registered Capital
General limited liability company and partnership enterprises have no requirements on registered capital, but Tannet suggests a registered capital of RMB1,000,000. For investment partnership companies, the paid-in capital of management company should be RMB200,0000, while the paid-in capital of investment company should be RMB30 million, and the subscribed capital should be RMB10 million.
4. Registered Address
The registered address is provided by the park, and both registered address and actual office address are available.
Basic Registration Process
1. Company name search;
2. Submission of registration materials;
3. Submission for review and approval;
4. Application for the business license;
5. Carving of the official seal, the special financial seal and the legal representative seal.
Information Required
1. ID cards of shareholders and the legal representative;
2. Proposed company name, scope of business and ratio of investments;
3. Real estate certificate or official lease agreement.
Taxation in Horgos
1. For limited company
The enterprise income tax rate is 15%, and 50% of the part distributed to the local government shall be allocated to the enterprise, so that the actual tax rate is 12%.
The individual income tax rate is 20% and 50% of the part distributed to the local government shall be allocated to the enterprise.
2. For partnerships
The enterprise income tax is zero; the individual income tax rate is 20%, and 50% of the part distributed to the local government shall be allocated to the enterprise.
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 Shenzhenhotline 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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