How to pay up the registered capital for a China WFOE?
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According to the new China company law it has been know that all the China companies need to pay up the registered capital five years since registration from July 1st, 2024. But how to pay the capital and what will the procedures will be quite diffcult for investors to understand. It is actually quite easy to process your company registered capital pay up no matter for your newly registered company or old ones.
To pay up the registered capital for your WFOE the first step is to make it clear of the deadline of paying up. For companies registered after July 1st, 2024, the deadline will be five years since registration date which will be June 30th, 2029 that is easy to tell. For those companies registered before July 1st, 2024, three more years extension time for you since registration date. For example, for a WFOE registered June 30th, 2024, the deadline to pay up capital will be on June 29th, 2032.
After confirm the deadline the second step is to check if you have opened the capital bank account for your WFOE. It is requried to pay up the capital into capital bank account for China WFOEs. If there is no capital bank account yet, kindly visit the bank and make appointment to open one. It will takes around 7 working days to get the capital bank account opened after the legal person visit bank.
The last step is to transfer the registered capital to capital bank account. You don't have to pay up the capital completely for one time. It allows pay up registered capital several times. But one thing need to know is that the registered capital can only be transferred from the shareholder bank account. And during the transaction it is required to make notes as registered capitla.
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