Chengdu corporate formation is also called Chengdu company registration. Chengdu is one of the most important economic, transportation, and communication centers in Western China. According to the 2007 Public Appraisal for Best Chinese Cities for Investment, Chengdu was chosen as one of the top ten cities to invest in out of a total of 280 urban centers in China. In 2006, it was named China's 4th-most livable city by China Daily.
I. Chengdu Corporate Formation Types
The following are common types for business registration in Chengdu: Wholly Foreign-owned Enterprise (WFOE); Representative office (RO); Cooperative Joint Venture (CJV); Equity Joint Venture (EJV); Foreign Invested Partnerships Enterprise (FIPE).
1. Wholly Foreign-owned Enterprise (WFOE)
WFOE is the limited-liability corporation organized by foreign nationals and capitalized with foreign funds. It is a common investment vehicle for mainland Chengdu-based business. This can give greater control over the business venture in mainland Chengdu and avoid a multitude of problematic issues which can potentially result from dealing with a domestic joint venture partner.
2. Representative office (RO)
A Chinese representative office (RO) is an institute setup in Chengdu, representing its parent corporate for liaison with Chinese counterparts. A RO is not considered to be a separate legal entity. It can not directly engage in business operation. However, through which its parent corporate can enter into contracts with its supplier/customers in Chengdu in its own name, but not under the name of RO. A representative office is popular for those who are willing to enter Chengdu at the test period of business and investment.
3. Cooperative Joint Venture (CJV)
In most respects, CJVs are structurally similar to EJVs. Unlike EJVs, however, CJVs can be established either as a limited liability company as a non-legal person, in which the partners are subject to unlimited liability and thus entirely liable for any losses. The rights and obligations of the JV partners concerning issues such as distribution, investment, operation and sharing of profits/losses and risks are determined by the individual joint venture contract.
4. Equity Joint Venture (EJV)
The corporate form of an EJV is the limited liability company, which possesses the status of a Chinese legal person. It involves joint investment and operation and the sharing of profits and losses, as well as risks in proportion to the partners’ respective shares in the registered capital.
5. Foreign Invested Partnerships Enterprise (FIPE)
FIPE is a unlimited liability business entity without minimum requirements on registered capital. A partnership in the People's Republic of China is a business entity governed by the Partnership Enterprise Law passed by order of the President of the People's Republic of China to authorize and govern partnership enterprises. A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested.
II. Chengdu Company Formation Process
1. Get a government paper which confirmed your company name;
2. Get an approval of foreign investment;
3. Get a company registration certification;
4. Get the company seal;
5. Get the organization certificate;
6. Get the tax registration certification.
III. Post Incorporation Service
After establishing your business in Chengdu, we could provide you with the following services which will cover:
Accounting Services: Rep. Office; Company: WFOE & J.V.; Partnership Enterprise
Payroll Services: Handling payroll, personal income tax and social securities
Social security Registration: Social security registration for foreign staff in China
Trademark Registration in China: Protecting your Trademark and business in China
Visa services: To get your 1 year work & residence permit in China
Deregistration services: To closing down your China operation: Rep. Office, WFOE or Joint Venture
Contact Us
If you have any further inquries, please visit www.tannet-group.net, or call HK hotline at 852-27826888, Shenzhen hotline at 86-755-82143181, Malaysia hotline at 603-21100289, or email 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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