Regulations for Shanghai WFOE Registration

Regulations for Shanghai WFOE Registration Service

Shanghai hotline: 021- 68877368  anitayao@citilinkia.com

Regulations for Shanghai WFOE Registration, the requirements for the name, capital, and the legal person etc.

1. Name of Shanghai WFOE
Name of WFOE can not be repeated. The industry is related with the registered capital. You should prepare more than 3 names. The format of names: Shanghai+ word size+ industry +limited company, or Word size + Shanghai+ industry + limited company. E.g. Tannet group (Shanghai) limited company

2.Registered capital
For the manufacturing enterprise, the registered capital is usually required USD 140,000 or above (USD 200,000 is much better)；For the trading enterprise, the registered capital is usually required as much as USD 140,000; For the service sectors, such as consultancy, technology, market research and development, the registered capital is usually required USD 100,000.(All of the registered capital must be paid).

3.Shareholder 、Director、supervisor and legal representative of the company
1、Shareholder:one or more than one 18 years old foreign natural or legal persons(inculd hongkong,macao and taiwan)
2、Director :can be foreign or chinese;
3、Supervisor :whether Chinese or foreign can hold this position, if only one shareholder, should also provide supervisor).

Material Should be Prepared by Clients
1、Choose One proposed name (in Chinese) for company registration, and provide two or more alternative names in case the first name is not available. In Shanghai China, only Chinese company names are officially used, while English company names are for reference only. Not every name will be accepted by the ICAB (Company Registry). For some sectors such as education, logistics, medicine and food industries, a special pre-approved license is needed. It is
important that you know the wording of a company name should conform to the registered capital and business activities. The words "international" or "investment" or "industrial" within a company name suggest that the registered capital should be more than RMB 10 million, while a "group'' or "holding" should be more than RMB 30 and 50 million respectively (The detailed information depends on the local stipulation). Your company name should be distinguished from the other registered names. If the word “China” is within the company name, it is required to be pre-approved by ICAB at national level in Beijing.
2、Choose Business Scope
The WFOE can doing business within its approved business activities described on the business license. TANNET will help you for more business activities during the application. Amending the business scope requires further application and approval. Generally speaking, different business activities are confined according to different business sectors. Find the registration address for the company;
3.Confirm who will hold the listed position, such as Shareholders, the legal representative, director, supervisor etc;
4. A shareholder could be a legal person (foreign company) or a natural person (individual);
5. A legal representative is a person in charge of corporate operation, management and development, responsible for all the legal affairs arising from the running of the business. The position could also be held by non-shareholder or non-director;
6.A director could be acted by a foreign person or a Chinese person. A supervisor should be appointed to supervise the company’s operation and management. A monitor could be acted by a foreign person or a Chinese person.
7. Prepare ID or passport copies of the legal representative, director, manager and supervisor;
8. Prepare the notarized and authenticated documents (first the business license or certificate of incorporation copy should be notarized in the local state secretary or notary public, then the Chinese embassy should confirm the notarized document is a true one);
9. Prepare bank proof (issued by the bank to prove that the person or the company has opend an or many accounts there and untill the date to issue the letter, the account has been managed in a good manner or the account is satisfactory).

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