Company setup in Hainan free trade zone attracts so much attention in these days. As one of China's foremost tourist destinations, and with its year-long warmth, sunshine and beautiful tropical beaches, Hainan is an excellent investment destination for entrepreneurs and businesses. The Chinese central government decreed in April 2018 that HaiNan will open a pioneering free trade zone by 2020, and a similar free trade port by 2025. It is estimated that economic growth will be more rapid than that of the Mainland in the next 5 to 10 years.
Why Set up a Company in Hainan free trade zone?
Free trade zones are often a good first port of call for foreign investors who are in the process of starting their Chinese company. They offer many benefits, most commonly, ,tax breaks, faster business setup and administration timescales, industry-specific benefits (such as subsidies and investment opportunities).
There is to be a particular focus on medicine and health-care in Hainan. Mainland China has very strict regulations in place for the medical industry. Hainan is already a hot spot of Chinese and foreign medical tourism, and they're planning to grow further, no doubt spurred on by the relaxed medical industry regulations there.
Moreover, The government is also looking into allowing legal gambling in Hainan, namely sports lottery and horse racing. While your company may not be involved with gambling, an influx of tourists and money may well impact your business positively. For more preferential policies, please refer to Hainan Business Setup Preferential Policies.
Basic Considerations for Hainan Company Setup
1. Determine the business structure. Your business presence may be in the form of a wholly owned foreign enterprise, a contractual joint venture, an equity joint venture, a representative office.
2. Carefully define your business scope for the China presence. It is critical to carefully define your business scope so as to be permitted or encouraged to set up the presence.
3. Select the right location for your business operation. Many business owners are unaware of just how important location and space are to their business. Getting the right office space is essential from the beginning.
3.Confirm the minimum registered capital for your China operation. The Chinese government requires certain minimum registered capital for various types of businesses. However, local Industry and Commerce Administrations may decide on your minimum registered capital based on their judgement of your business scope and operation scale.
Tannet’s Services
Tannet has three local branches and we provide a full range of services locally, including but not limited to:
Feasibility Study Report;
Company Formation;
China visa application;
Bank Account Opening;
Accounting, tax filing and auditing;
Intellectual property protection;
Barcodes registration.
If it is only taking a matter of a week or so to open a company in Hainan now, it's definitely worth considering if its location is agreeable for your business needs.
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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