Registering Shanghai WFOE Instruction Workflow Service
Shanghai hotline: 021- 68877368
Registering Shanghai WFOE Instruction Workflow, the overal process of registering Shanghai WFOE.
Register WOFE 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 WOFE. A WOFE is set up as limited liability entity and represents separate legal persons and is taxed according to local legislation.
I. Register WOFE-Advantages
1.Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;
2. Ability to formally carry on business rather than just a representative office function;
3. Issue invoices to their customers in RMB and receive RMB revenues. Convert RMB profits to US dollars for remittance to their parent company outside.
4. Cheap labor, which can lower your cost;
5. Not required to share profits with Chinese counterpart;
6. Greater efficiency in its operations, management and future development.
II.Register WOFE-Application Documents
1.A project proposal and feasibility study report (in print and under the company seal);
2. Original copies of the application paper and the resolution by the Chairman of the Board of the foreign investor (in printed form signed by members of the Board and with company chop);
3. Copies of the business licenses of certificates of incorporation of the foreign investor (usually with the permission chop from the government department.);
4. An original copy of leasing agreement with chop of the Housing Department.
5. Directors name list of board or management.;
6. An original copy of the corporate ratification paper (2 copies in duplicate).;
7. Two original bank credibility letters for the foreign investors, stating 7-digits bank balances, issued within 6 months in both English and Chinese language.;
8. A copy of the approval paper for corporate formation and other papers for company alterations (the original are required for check-up);
9.Notice of enterprise's name confirmation appraised by the Industry & Commerce Administrative Bureau.
10. 2 photos of the legal person of WFOE.
11.A copy of the stub of corporate certificate of approval
Ⅲ.Registered Assets
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).
IV. Shanghai WFOE Registration Instruction Workflow
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