Registration Method of Shanghai WFOE Service
Shanghai hotline: 021- 68877368
Registration Method of Shanghai WFOE, is the illustration about how to make the Shanghai WFOE registration.
Register WFOE (wholly foreign owned enterprise) is a common investment vehicle for mainland China-based business. The unique feature of a WFOE is that involvement of a mainland Chinese investor is not required, unlike most other investment vehicles. WFOEs are limited-liability corporations organized by foreign nationals and capitalized with foreign funds. This can give greater control over the business venture in mainland China and avoid a multitude of problematic issues which can potentially result from dealing with a domestic joint venture partner.
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.
The minimum registered capital guides for various industries according to our practice in China.
Company Name
Company name is irreproducible.
Constituting name: Company name generally consists of four parts :administrative divisions + name + industry characteristics+organizational form.
EG: Shanghai-Honglin Trade Co.,Ltd. --- Honglin (Shanghai) Trade Co., Ltd.
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