Set up a company in shanghai
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where else than in Shanghai would you set up acompany in shanghai?
Since the launch of the Shanghai Pilot Free Trade Zone (SHPFTZ) ，new opportunities for foreign investors are arising in the city. The Zone will see the liberalization of its economy through successive reforms that will be, if successful, implemented in the rest of the country. Incorporating in the Zone has therefore the double advantage of letting you benefit from major reforms and sense China’s future. No wonder why entrepreneurs are currently rushing into the city.
To register a Shanghai company, you need to know the following information.
Selecting a legal rep
For a small company with a clear owner this may not take too long. However, for larger companies with more complex layers of ownership, it can become a very drawn-out process to agree who is going to be the legal rep when you open a company in China and what responsibilities that entails. Many employees are not very comfortable taking on this position as it appears to bring with it considerable legal liability, although this is usually due to a lack of clarity on the responsibilities involved and how long they may last.
The trick here is to identify the person in your organisation who will have a long term relationship with your subsidiary in China. Their role in the company is not that important, and the legal rep is largely a nominal role. The important thing is to ensure they will still be around if they are ever called upon.
Choosing a name
You must choose a suitable Chinese company name when registering a WFOE.
Names for WFOEs follow a set sequence:
1. company name
2. city name, in brackets
3. type of company.
So a company called ‘XX’, registered in Shanghai, working in the creative industry becomes:
XX (Shanghai) Creative and Design Company Limited
Document preparation
A long list of company documents must be prepared including company license, accounts and tax certificate when setting up a company in China. Not only do the documents need to be prepared, but they also need to be legalised and notarised, which can involve a lengthy process of liaison with solicitors and the Chinese embassy in your country. For some companies, getting access to these documents and finding people to visit the Chinese embassy for notarising proves significantly time-consuming. Set aside sufficient time and resource to implement this.
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