Characteristics of Registering Shanghai WFOE Service
Shanghai hotline: 021- 68877368
Characteristics of Registering Shanghai WFOE, the Registration Characteristics of Shanghai WFOE. As to Shanghai WFOE there are some special points need your attention.
Register WFOE-Business scope
One of the most important issues in WFOE application is business scope. Business scope needs to be defined and the WFOE can only conduct business within its approved business scope, which ultimately appears on the business license. Any amendments to the business scope require further application and approval. Inevitably, there is a negotiation with the approval authorities to approve as broad a business scope as is permitted. Generally business scope includes investment consulting, international economic consulting, trade information consulting, marketing and promotion consulting, corporate management consulting, technology consulting, manufacturing, etc. With China's entry into WTO, more and more business is open to WFOE especially in Trading, Wholesale and Retail business.
Register WFOE-Registered and paid up capital
Registered Capital: USD$140,000 is a decent investment capital for many types of WFOE. (with USD$ 140,000 investment it's easy to get approved). Initial Paid-up could be 20% of the registered capital, with the balance being remitted within 2 years. RMB 100,000 ~ RMB 500,000 (Approx. USD$15,000- 75,000) is the minimum investment capital to be approved for Consulting WFOE, Service WFOE, Hi-Tech WFOE registration.
Registered capital is the amount that required to run the business until it can break even - the 'minimum registered capital' is a guideline only. If you do looking for a minimum registered capital, for instance RMB 30,000 (which is impossible to establish a WFOE in China) this means you will run out of money pretty soon, which leads to increased costs in reapplying for permission to increase capital, additional licensing fees and renewals of business licenses and so on. The WFOE needs funding via its registered capital until it's able to support itself from its own cash flow.
Material needed
I. Investing as a foreign corporate:
(1) 3 company Chinese names at least;
(2) 2 original Notarization of the business license or certificate of incorporation of the parent company（It should be notarized by domestic notarization Department and endorsed by local China Embassy）;
(3) 1 original bank reference letter（It is opened from investor's bank, the deposit money is not less than the registered capital in China, issued within 6 months in both English and Chinese version）;
(4) Recent 1 year Audit report from foreign investing company;
(5)Registered Capital the registered capital of International Freight Forwarding Agent Company is 5 millions
, proportion of investment and business scope;
(6) Three photos of Legal Representative, the copy passport of Legal Representative;
(7) M&A and Feasibility Study Report (Tannet provides with standard template);
(8) A set of documents require for investors and Shanghai legal representative’s signatures (Tannet provides);
(9) Contract of rent
Manufacturing enterprise：original Contract of rent in triplicate，3 copies of house-owner certificate（The house should be rent in the name of the investor or the company, more than 200 square meters // Lease period :more than one year // Use for the plant）;
Non-production enterprise：original Contract of rent in triplicate，3 copies of house-owner certificate（The house should be rent in the name of the investor or the company, more than 30 square meters // Lease period: more than one year // Use for office or business）;
Investing as natural persons:
(1) 3 company names at least;
(2) Providing investors’ passport（It should be notarized by domestic notarization Department and endorsed by local China Embassy）;
(3) 1 original bank reference letter（It is opened from investor's bank, the deposit money is not less than the registered capital in China, issued within 6 months in both English and Chinese version）;
(4)Registered Capital the registered capital of International Freight Forwarding Agent Company is 5 millions
, proportion of investment and business scope;
(5) Three photos of Legal Representative, the copy passport of Legal Representative;
(6) M&A and Feasibility Study Report (Tannet provides with standard template);
(7) A set of documents require for investors and Shanghai legal representative’s signatures (Tannet provides);
(8) Contract of rent
Manufacturing enterprise：original Contract of rent in triplicate，2 copies of house-owner certificate（The house should be rent in the name of the investor or the company, more than 200 square meters // Lease period :more than one year // Use for the plant）;
Non-production enterprise：original Contract of rent in triplicate，2 copies of house-owner certificate（The house should be rent in the name of the investor or the company, more than 30 square meters // Lease period: more than one year // Use for office or business）;
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