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China Company Cancellation (WFOE)

Updated:2018-5-21 17:06:26    Source:www.tannet-group.comViews:208

China company cancellation (WFOE) refers to deregister a wholly forwign owned company in China. A business can be referred for deregistration upon request from the company or close corporation or any other third party, provided that the company or close corporation has ceased to carry on business; and has no assets or, because of the inadequacy of its assets, there is no reasonable probability of the company or close corporation being liquidated. With the option of doing future business in China at stake, it is beneficial for a company to carry out its cancellation in the prescribed manner. Below is a brief introduction to WFOE cancellation in China.

Steps to Closing a WFOE in China
1. Clear the tax and submit Tax Clearance Declaration Report;
2. The tax bureau will issue a "notice of cancellation of tax registration";
3. Online application for cancellation of WFOE;
4. Submit to Foreign Trade & Economic Cooperation Bureau;
5. Cancellation of Letter of approval and Certificate of approval;
6. Announcement on appointed local newspaper & Cancellation of Company Business Licenses;
7. Dissolution of Organizational Code Certificate (original and copy);
8. Dissolution registration of Statistics Registration Certificate;
9. Cancellation of Alien Employment Permit;
10. Dissolution registration with customs (applicable to trading, manufacturing WFOE only);
11. Bank accounts closure and capital repatriation;
12. Cancellation of Company stamps;
13. After all these procedures are finished, State Administration of Industry & Commerce will send a "notice of the approval of cancellation for WFOE."

Documents required for WFOE Cancellation in China
To start WFOE cancellation, you will need to prepare the following documents:
1. Originals of Certificate of approval, Letter of approval, Business License;
2. Taxation registration certificate;
3. Enterprise Code certification;
4. Statistics registration certificates;
5. Foreign exchange accounts permits;
6. Written board resolution of Cancellation of WFOE;
7. Copy of Legal Representative’s passport;
8. Bank Account Certificates;
9. All chops of WFOE;
10. All accounting related documents: bank statements, invoices of WFOE expenses.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, 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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