China WFOE Formation
Hotline: 86-755-82143410, Email： 2355725105@qq.com
China WFOE formation procedures also known as China WFOE Registration Procedures, China WOFE formation/registration procedures is one Tannet services. The most popular entity in China is the wholly foreign owned enterprise (WFOE), which is a Chinese limited liability company wholly owned by the foreign investor. A china WFOE can generate income from industries opened to foreign entrepreneurs in China.
Since China still maintains foreign currency control policy, it's still advisable to choose registered capital within RMB 100,000 ~ RMB 500,000 as the minimum registered capital for Consulting WFOE, Service WFOE, Hi-Tech WFOE registration in Shanghai, Beijing, Shenzhen, Tianjin, Guangzhou, Hangzhou, Ningbo, Suzhou and many other cities of China. It is also considered a resident by the Chinese authorities for taxation. The following information will help you determine whether registering a WFOE in China is the optimum corporate structure to fulfill your international business objectives
Advantage of China WFOE
1. A foreign investor setting up a China WFOE company can thereafter control it without the involvement of a Chinese partner.
2. A WFOE is allowed convert RMB profits to US dollars for remittance to its parent company outside of China. The funds repatriation process is neither hampered by exchange controls nor penalized by withholding tax.
3. The WFOE Company can issue invoice to costumers in RMB and receive revenues in RMB. The company can import and export products and raw materials.
Documents Required & Registration Procedures of WFOE
• Fees for WOFE Registration (Shanghai, Beijing, Shenzhen, Tianjin, Hangzhou, Ningbo etc.)
• Part time accounting services after WFOE incorporated in China
• 1 Year All inclusive Package (Company formation, accounting and audit all included)
• Deregistration of a company (WFOE) in China (Shanghai, Beijing, Shenzhen, Tianjin, Ningbo)
Documents required
1. 2x Certificate of Incorporations, Articles of Formation or Equivalent document certified by Chinese embassy or Chinese consulate overseas [UK , US, HK, AUS, RUS, SGP, GER,SWE, ISL etc. ] For individual investor: 2x Passport copies of Investors need be certified by Chinese embassy or consulate. Double check with us if individual investor is currently in China as some cities in China allow individual investor to submit with their original passport.
2. 2x Bank Reference Letters from investor’s bank (announce a good standing)
3. Passport copy of: Parent company's director, China company's Legal Representative and China company's supervisor
4. China Legal Representative provides: 6 photos (2 inches size), brief resume
5. Registered capital; Business Scope; 8 proposed Chinese names of China company
6. Office address in China, 2x leasing contracts, 2x certificate of real estate ownership and 2x landlord identification
7. 4x Letter of Authorization For Trading WFOEs only: The latest annual audit report copy from the parent company: provided by a Certified Public Accountant (CPA) and Customs HS Code of proposed Import/Export products in China
The above documents are good enough to register a Trading WFOE, Service WFOE & Consulting WFOE. For a manufacturing WFOE establishment, you will also need:
1. Purpose and estimated investment
2. WFOE's operational structure and number of employees
3. Permission for land use, environment evaluation report
4. Products, size of production, detailed list of equipment, and business plan
5. Environmental protection measures
6. Requirement for utilities such as power and water supply
Contact Us
For further queries, please do not hesitate to contact ATAHK at anytime, anywhere by simply calling China hotline at 86-755-82148419, 86-755-82143512, or emailing to info@citilinkia.com.