Qingdao company registration is also called Qingdao corporate formation, Qingdao business setup and Qingdao company incorporation. Qingdao is a city in eastern Shandong Province on the east coast of China. It is a major seaport, naval base, and industrial centre. The ideal way to register your company is as a limited-liability company called a Wholly Foreign Owned Enterprise, abbreviated WFOE or WOFE. A WFOE is a commonly used investment vehicle for mainland China-based businesses.
Major Features of WFOEs
(1) A WFOE can be incorporated to conduct general business activities in China;
(2) It gives foreign investor complete control of the day-to-day business and decision-making without any compulsory involvement from a Chinese partner.
(3) It can issue invoices to clients, receive RMBs, convert profits into foreign currency, and repatriate them.
(4) It is the most effective way of protecting trademark technical information and trade secrets.
(5) It provides complete authority regarding the hiring of staff, and does not require you to hire Chinese staff.
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.
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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.
The Chinese market is vast, expanding but also relatively complicated for newcomers. Consequently, many companies rely on consulting firms to help them efficiently operate in the Chinese market. Tannet offers foreign investors doing business in China a turnkey solution. We provide everything you need to conduct business in China, from incorporating your company, protecting your intellectual property rights, fine-tuning your marketing plan and even the managing of human resources.
Contact Us
If you have further inquiries, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Shenzhen hotline at 86-755-82143422 or Hong Kong hotline at 852-27826888, 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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