Nanchang WFOE Formation Services
Hotline: 86-755-82143348 Email: anitayao@citilinkia.com
There are many requirements of setting up a WFOE in Nanchang. Knowing the requirements of setting up a WFOE(Wholly Foreign Owned Enterprise) in Nanchang is a great advantage for those investors who want to do business in Nanchang.
Requirements of Setting Up a WFOE in Nanchang- Characteristics of a WFOE
Wholly Foreign Owned Enterprise (WFOE), also known as Wholly Owned Foreign Enterprise (WOFE), is a limited liability company, the establishment of which is governed both by the Company Law of PRC and Law of the PRC on Enterprises Operating Exclusively with Foreign Capital.
Requirements of Setting Up a WFOE in Nanchang-Different Types of WFOE
The following are different types of WFOE:
1. If the WFOE only be allowed to manufacture here. We can say it's manufacturing WFOE.
2. If the WFOE is allowed to do Consulting & Service, we call them Consulting WFOE.
3. If the WFOE is allowed to do Trading, Wholesale, Retail or Franchise in China, we call them Trading WFOE or FICE (Foreign-Invested Commercial Enterprise)
Requirements of Setting Up a WFOE in Nanchang-Business Address
A separate business address, located in commercial buildings or locations is required as the official address. One address could be used by one company only.
Requirements of Setting Up a WFOE in Nanchang- Capital and Shareholders
A minimum of one shareholder, either a corporation or a natural person, who must not be Chinese national, is required. Capital must be of private nature, public offering of capital is not allowed.
China adopts a registered capital system. All registered capital has to be paid up in cash, physical assets or intangible assets. If injection of capital is not in the form of cash, valuation by a local "valuation professional" is needed, according to the regulations relating to the particular industry.
If capital is not injected according to the schedule as stipulated by the relevant regulations, business license and certificate may be withdrawn.
Requirements of Setting Up a WFOE in Nanchang-The Director(s)
A WFOE in Nanchang needs a minimum of one director. The director could only be an individual and can be of any nationality. A board of directors is not always required. For a small company, the general manager or legal representative is the CEO of the company and shall be treated as having the power of the directors of the company. There is no residential requirement for the directors.
Requirements of Setting Up a WFOE in Nanchang-Choose WFOE Company Name
The official company name of a WFOE in China should be in Chinese. The Chinese name should be formatted as: first word -company name/product(For instance: MCK; second word: activity (For instance: business consulting); third word: location/name of city (For instance: Shanghai, Beijing); fourth word - company structure. (For instance: Co., Ltd.) The State Administration of Industry and Commerce (SAIC) has the final say in whether a name is allowed or not.
Contact Us
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