Shanghai WFOE Regiateration Time
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The Wholly Foreign Owned Enterprise (WFOE) is a limited liability company wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for encouraged manufacturing activities that were either export orientated or introduced advanced technology. However, with China's entry into the WTO, these conditions were gradually abolished and the WFOE is increasingly being used for service providers such as a variety of consulting and management services, software development and trading as well.
WFOE Regiateration Time
It takes about two months to register a wholly foreign-owned company in Shanghai.
The premise is that you need to entrust a professional agency to register your company.
WFOE Regiateration Advantages
The advantages of establishing a WFOE include, but are not limited to:
Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;
Ability to formally carry out business rather than just function as a representative office and being able to issue invoices to customers in RMB and receive revenues in RMB;
Capability of converting RMB profits to US dollars for remittance to its parent company outside of China;
Protection of intellectual know-how and technology;
Full control of human resources
Greater efficiency in operations, management and future development.
newInvestor's parent company does not have to be established for more than 2 years while for Representative Office, it's parent company is required to have been established for more than 2 years.
WFOE Regiateration Classification
If the enterprise is only allowed to participate in producing activity, then it can be called as a production type of foreign capital enterprise. If operate consulting service activities, then its consulting service foreign capital enterprise. If allowed to operate trading, wholesale, retail or distribution activities, then its commercial foreign capital enterprise or foreign invested commercial enterprise.
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