China Business Setup (also known as China Company Registration, China Corporate Formation, China Company Establishment) is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls. Tannet can provide all the needed services for startups.
Advantages of China Business Setup
The benefits of registering a company in China are endless. Some of the benefits of registering a company in the most populous country of the world include:
1. China is the world’s largest foreign exchange reserve and China Government has aggressively put forward stimulus plans to boost domestic consumption;
2. Personal savings: As China economy develops and China government encourages local consumption, Chinese people are more comfortable to spend their money;
3. China government has taken active and effective macroeconomics measures to boost the domestic market. With the huge reserve in China government and hard-earned saving of the people, your business will lag behind if cannot tap into the huge opportunities for China trade and China investment.
Basic Types of China Business Entity
To invest in China, there are four major forms of business entities:
Wholly Foreign Owned Enterprises (WFOEs);
Foreign Invested Commercial Enterprises (FICEs);
Representative Offices in China;
Joint Ventures (Equity Joint Ventures and Cooperative Joint Ventures).
Wholly Foreign Owned Enterprises (WFOEs) have become the investment vehicle of choice for the international investor wishing to manufacture, process, or assemble in China. It negates the need for a Chinese partner and does not require large amounts of registered capital to fund.
Procedures for China Business Setup
1. Obtain notice of Pre-Approval of the Company Name;
2. Open a preliminary bank account, deposit funds in the account and obtain the certificate of deposit;
3. Obtain capital verification report from an auditing firm;
4. Obtain registration certification "Business License of Enterprise Legal Person" from local Administration of Industry and Commerce (AIC);
5. Obtain approval from the police department to make a company seal;
6. Make a company seal;
7. Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau;
8. Register with the local statistics bureau;
9. Register for national and local tax;
10. Open a bank account for the company and transfer registered capital to the account;
11. Apply for the authorization to print or purchase financial invoices;
12. Purchase invoices;
13. File for recruitment registration with local Career Service Center;
14. Register with Social Welfare Insurance Center.
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 info@citilinkia.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
Previous：China Consulting Company Formation
Next：China Corporate Formation