Overview for Registering Shanghai WFOE Service
Shanghai hotline: 021- 68877368
Overview for Registering Shanghai WFOE , that is the general situation for the Shanghai WFOE Rgistration. Such as the materials, the process etc.
Shanghai WFOE (wholly foreign owned enterprise) Registeration is a business entity formed in China entirely with foreign capital. It is totally under foreign control and does not have any formal Chinese ownership participation. For a foreign company to be able to issue receipts and export goods from China, it must be able to legally registered as a local company or a WFOE. A WFOE is set up as limited liability entity and represents separate legal persons and is taxed according to local legislation.
Shanghai WFOE Registration-General Procedures and Estimated Time Frame
1. WFOE company name reservation-1 work day;
2. Certificate of Approval Application-7 work days;
3. Business License Registration-5-7 work days;
4. Application and engraving of Company stamps-1work day;
5. Organization Code License Application-1 work day;
6. State Tax Registration-1 work day;
7. Local Tax Registration-1 work day;
8. Foreign Exchange Registration-1 work day;
9. Bank account opening-10 work days;
10. Financial Registration for WFOE-3 work days;
11. Registration with local Customs-3 work days;
12. Registration with China E-Port-3 work days;
Total Time required-7~8 weeks.
Shanghai WFOE Registration-Taxation of WFOE in Shanghai
Tax rates can vary somewhat depending on the location of the WFOE, but generally, WFOEs selling into Shanghai will be subject to business tax of about 5% on all revenues in Shanghai; profits tax of 15-33% depending on location and in come instances withholding tax and VAT may be applicable.
Procedure
Fill the application form——pay the advance payment——Check the company name with local ICAB——Make M&A and Feasibility Study Report——Go to the Foreign Economic & Trading Commission for Certificate of Approval——Apply for the Business License from ICAB——Apply for chops from the Public Security Bureau——Apply for the Organization Code License from Bureau of Quality and Technical Supervision——- Apply for the Tax Registration License from Tax Bureau—- Apply for Foreign exchange registration license from State Administration of Foreign Exchange——Open the basic bank account——Apply for Statistics Certificate――-Apply for Financial Registration License
Contact Us
For further queries, please do not hesitate to contact Tannet at anytime by calling
Shanghai Hotline: 021-68877368, 18101640557
Fax：58402186
E-Mail: hkcfm-shanghai@163.com
Address: Block F, 15th Floor, World Plaza, No.855 South Pudong Road, Pudong New Area, Shanghai