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Chengdu Company Registration (WFOE)

Updated:2018-4-3 15:54:41    Source:www.tannet-group.comViews:248

Chengdu company registration (WFOE) is really a popular choices for foreign investors. A Wholly Foreign-Owned Enterprise (WFOE, sometimes incorrectly WOFE) is a common investment vehicle for mainland China-based business wherein foreign parties (individuals or corporate entities) can incorporate a foreign-owned limited liability company. The unique feature of a WFOE is that involvement of a mainland Chinese investor is not required, unlike most other investment vehicles (most notably, a sino-foreign joint venture).

Chengdu, formerly romanized as Chengtu, is a sub-provincial city which has served as capital of China's Sichuan province. It is one of the three most populous cities in Western China. China's state council has designated Chengdu as the country's western center of logistics, commerce, finance, science and technology, as well as a hub of transportation and communication. It is also an important base for manufacturing and agriculture. Tannet Chengdu are surely to help those who want to invest in Chengdu.

Chengdu WFOE Setup Benefits
1. Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;
2. Ability to formally carry on business rather than just a representative office function;
3. Issue invoices to their customers in RMB and receive RMB revenues. Convert RMB profits to US dollars for remittance to their parent company outside;
4. Cheap labor, which can lower your cost;
5. Not required to share profits with Chinese counterpart;
6. Greater efficiency in its operations, management and future development.

General Procedures for Chengdu WFOE Registration
1. WFOE company name reservation;
2. Certificate of Approval Application;
3. Business License Registration;
4. Application and engraving of Company stamps;
5. Organization Code License Application;
6. Tax Registration;
7. Foreign Exchange Registration.

Chengdu WFOE Registration Taxation
Tax rates can vary somewhat depending on the location of the WFOE, but generally, WFOE’s selling into Chengdu will be subject to business tax of about 5% on all revenues in Chengdu; profits tax of 15-33% depending on location and in come instances withholding tax and VAT may be applicable.

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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