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Xinjiang Horgos Business Setup

Updated:2018-4-3 15:56:54    Source:www.tannet-group.comViews:251

Xinjiang Horgos business setup 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. A small city in Northwest China's Xinjiang Uyghur Autonomous Region has become a "tax haven" for domestic entertainment companies, offering favorable policies including huge tax breaks to attract cultural and entertainment companies to register in the city.

Horgos is a frontier city 670 km from Urumqi, capital of Xinjiang Uygur Autonomous Region. Horgos is administrated by the Kazakh Autonomous Prefecture of Ili. It covers an area of about 1,900 square kilometers, with a population of about 85,000. For over 130 years it has served as a land port on the border with Kazakhstan. Its history as an entrept in transnational trade and exchanges dates back two millennia, however.

Occupying a pivotal spot along the northern route of the Old Silk Road, Horgos was a junction for the intercourse of Eastern and Western civilizations. Today this status is revivifying with the initiation of the Silk Road Economic Belt, which positions Horgos as the portal for China’s further opening-up to its neighbors to the west.

China’s Tax Heaven
In a policy document regarding the establishment of the Horgos economic development zone published in 2011, the State Council, China's cabinet, stated that companies in "areas of importance" could be exempted from paying any business income tax in the first two years and half in the three years after that. Cultural and tourism sectors are among those areas eligible for tax exemption. According to Horgos' tax bureau, 2,411 companies registered in Horgos last year, taking advantage of five years of no company tax, and a further five years paying half rate.

Required Information
People who are going to set up a business in Horgos only need to provide a shareholder, a legal representative and a company name. All the other materials will be prepared by Tannet.

General Registration Procedures and Timeline
Choose a company name -- Submit company nameto relevant department -- Determining scope of business -- Determine registered capital (Amount of subscription and subscription time) -- Determine shareholder -- Determine legal representative -- Determine  supervisor -- Determine registered address -- Sign legal documents -- Company materials transaction -- Get the approval documents with relevant departments -- Bank account opening -- Investing money into the capital account if required) -- Capital verification (if required) -- Change the paid in capital (if required).

Generally, it take about 7-15 working days to complete the whole registration process (Factors like fire fighting and environmental protection should be considered in the workplace of a manufacturing company).

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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