Company Formation China
Updated on Friday 27th April 2018
Rate this article based on 1 reviews
The largest manufacturing economy in the world, as well as the second largest importer of goods and largest exporter, China rejoices in an incredibly fast-growing economy that has been attracting foreign investors from all over the world for years now.
In order to set up a company in China, you should contact a team of company formation specialists in order to start your business as soon as possible.
As a foreign investor, you first need to choose which business entity type is best to establish in China. Some of the possibilities of entering the Chinese market are: through a limited liability company or a joint venture company or you can decide to go for creating a branch office, a representative one or a wholly owned foreign enterprise (WOFE).
The limited liability company is the most popular one amongst foreign entrepreneurs and below you have a list of the demands to be met when opening a company of this kind in China.
- minimum one shareholder;
- at least one director;
- one company secretary who needs to be a resident;
- minimum capital share 15,000$.
1. First thing you need to do is obtaining a notice of pre-approval of the company's name. This is done at the Administration of Industry and Commerce. The name must be checked for uniqueness first.
2. You have to register with the local and state taxes authorities. Along with a tax registration form, you will submit other papers like the business license, the company's seal or the land use approval certificate.
3. Another step is obtaining clearance to make a seal for the company. You need to present some documents, such as a power of attorney issued by the company itself or copy of the company's representative ID.
4. An important phase of the company formation in China is the opening of a bank account and our specialists can assist you with this procedure as well.
5. Then you must apply for authorization to print/purchase financial receipts.
6. Last, but not least, is the filing for a recruitment registration.
This has to be done by all new companies at the Ministry of Human Resources and Social Security. Then, at the Social Welfare Insurance Center, you must register for the social insurance of your employees.
Although the process can be tedious at times and can take up to three or four weeks to be completed because of the continuous changes of the legislation in this country, our company incorporation agents can guide you through and offer assistance and information on how to register a company in China.
Therefore, feel free to contact our specialists, not only for establishing a business in this particular country, but also in many others.
In order to set up a company in China, you should contact a team of company formation specialists in order to start your business as soon as possible.
Types of companies in China
As a foreign investor, you first need to choose which business entity type is best to establish in China. Some of the possibilities of entering the Chinese market are: through a limited liability company or a joint venture company or you can decide to go for creating a branch office, a representative one or a wholly owned foreign enterprise (WOFE).
The limited liability company is the most popular one amongst foreign entrepreneurs and below you have a list of the demands to be met when opening a company of this kind in China.
- minimum one shareholder;
- at least one director;
- one company secretary who needs to be a resident;
- minimum capital share 15,000$.
Steps in registering a company in China
1. First thing you need to do is obtaining a notice of pre-approval of the company's name. This is done at the Administration of Industry and Commerce. The name must be checked for uniqueness first.
2. You have to register with the local and state taxes authorities. Along with a tax registration form, you will submit other papers like the business license, the company's seal or the land use approval certificate.
3. Another step is obtaining clearance to make a seal for the company. You need to present some documents, such as a power of attorney issued by the company itself or copy of the company's representative ID.
4. An important phase of the company formation in China is the opening of a bank account and our specialists can assist you with this procedure as well.
5. Then you must apply for authorization to print/purchase financial receipts.
6. Last, but not least, is the filing for a recruitment registration.
This has to be done by all new companies at the Ministry of Human Resources and Social Security. Then, at the Social Welfare Insurance Center, you must register for the social insurance of your employees.
Although the process can be tedious at times and can take up to three or four weeks to be completed because of the continuous changes of the legislation in this country, our company incorporation agents can guide you through and offer assistance and information on how to register a company in China.
Therefore, feel free to contact our specialists, not only for establishing a business in this particular country, but also in many others.