H & Trust assists clients in setting up Wholly Foreign Owned Enterprises (WFOE), Joint Venture (JV) and Representative Offices (RO). We provide services such as annual filing, license renewals and other administrative requirements to allow you to focus on your core business activities.
The setting-up procedure will take longer than you can expect sometimes. The establishment of foreign investment enterprises consists of below phases:
(1) Name registration online and authorisation
(2) Approval of the project proposal, feasibility study report, Joint Venture Contract and Articles of Association;
(3) Registration with the State Administration for Industry & Commercye(SAIC);
(4) Post-establishment procedures, Stamps etc
(5) Bank account open (Capital account & General account)
(6) Tax registration
(7) Capital verification
(8) Business license renewal
The whole procedure will take one to three months normally.
Before we start the registration process, we will have a deep conversation with you to understand your business, and help you to select the right way to register your business and avoid the future hustle, especially in taxation and accounting part.
1. How long it will take to register a company in China?
Once the required documents ready, it takes around 3-4 weeks to get business license.
2. What documents are needed to register a company in China?
-Minutes or resolution from investor’s board of directors. Signed by all shareholders.
-One proposed company name (in Chinese), and two alternatives in case the first one is not available.
-Detailed information about the business scope, invested capital and registered capital
-Articles of association
-The original and copy of identity certificate of legal representative.
-Certificate of incorporation of holding company
-The lease contract and property ownership certificate.
3. What kind licenses a company may have?
-Business license from company house
-Import/export license from customs
-Food license from The Food and Drug Administration
4. How much register capital is proper?
There is no restriction regarding register capital from authority. But 100,000RMB or above shall be the reasonable amount from the cash flow point of view.
5. How could I know if the company name I want to register is available?
6. How to open a corporation company account?
We will help to open 2 bank accounts – one is Basic RMB account, one is capital account for foreign currency.
7. What are tax rates in China?
With small scale taxpayers, the VAT is 3%. With general tax payers, the VAT is 6% for services, 16% for products.
Corporation income tax is between 5%-25%.