Ningbo FIPE Formation
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Ningbo company information: Ningbo China FIPE formation is also called Ningbo China FIPE setup, Ningbo China FIPE registration, Ningbo China FIPE incorporation and Ningbo China FIPE establishment.
The Foreign Invested Partnership Enterprise (FIPE) is a unlimited liability business entity without minimum requirements on registered capital. A partnership in the People's Republic of China is a business entity governed by the Partnership Enterprise Law passed by order of the President of the People's Republic of China to authorize and govern partnership enterprises. A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested.
Ningbo China FIPE Formation-Advantages of FIPE
1. No requirements on minimum registered capital; less procedures comparing with Wholly Foreign Owned Enterprise or Joint Venture;
2. Capability of converting RMB profits to US dollars for remittance to its parent company outside of China; Foreign Enterprise or Individual is allowed to establish a Partnership Enterprise with Chinese individual,while Chinese individual is not allowed to have Joint Venture with foreign investor;
3. The profit distribution of a PE could follow an informal negotiated agreement or abide by scheme adopted in the partnership agreement, While for LLC, profit distributions is according the percentage of investment of shareholders.
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Ningbo China FIPE Formation-Common types of FIPE in China
1. China FIPE-General partnership Enterprise (GPE)
A general partnership enterprise may be formed by general partners who bear unlimited joint and several liabilities for the debts of the partnership. The general partners share unlimited liabilities for the debt of the partnership.
2. China FIPE-Limited partnership enterprise (LPE)
a limited partnership enterprise is formed by a combination of general partners and limited partners where the limited partners bear the liabilities for the partnership's debts to the extent of their capital contributions.
3. China FIPE-Special General Partnership enterprise (SGP)
a special general partnership enterprise resembles a general partnership except that it must be a professional service institution offering services requiring professional knowledge and special skills. The structure shields co-partners from liabilities due to the will full misconduct or gross negligence of one partner or a group of partners. It is very similar to limited liability partnership in Europe and America.
Other Types of Business in China
1. China WFOE formation
2. China RO formation
3. China JV formation
4. Hong Kong corporate formation
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