Open a WFOE in Shenzhen
Hotline: 86-755-82143410, Email:2355725105@qq.com
Shenzhen WFOE is Shenzhen Wholly Foreign Owned Enterprises which can be 100% invested by foreigners. The shareholder can be foreign individual or foreign enterprises. As its name suggests, a wholly foreign owned enterprise, also known as a WFOE or WOFE, is a limited liability Chinese company which is invested into with 100% foreign capital and owned by only foreigners.
This company behaves in the same way as any other Chinese company, in that it can trade freely in China, make revenue in CNY, invoice (produce fapiaos) in CNY, can transfer profits back abroad, and can export goods.
Typically a Chinese WFOE will be a subsidiary of a foreign company which is based abroad, but although a Chinese representative of this foreign company, it still operates as a standalone entity within China.
Advantages Of WFOE in China
A Wholly Foreign Owned Enterprise offers:
Independence to operate in China the way you see fit, without needing to answer to a local business partner.
The ability to trade as a normal company, rather than being simply a local representative.
Invoicing in local currency, CNY, as well as the reception of revenue in CNY as well.
Can transfer profits in USD to the parent company outside of China.
Ability to hire low cost local labour and decide who to hire and when.
Efficiency and agility, as there is little need to get bogged down in politics or red tape.
Ability to protect intellectual property, as it remains private.
All profits belong solely to the WFOE.
Documents Required For WFOE Setup
Gathering the documentary evidence needed to apply for a WFOE is difficult and time-consuming. Hongda will guide you through this every step of the way.
We will require, roughly, the following documents from you in order to open a WFOE (updated May 2018):
Company director/s passport copies
Legal representative's passport copy and details
Company supervisor's passport copy and details
Company office lease rental contract
Business feasibility report (Tannet will assist you to complete it)
Chinese name of company (Tannet will assist with this)
Business scope (Tannet will assist with this)
Copies of overseas company registration documents (required if a company is the foreign investor)
WFOE setup takes around just 25-35 working days
Contact us:
For further queries, please do not hesitate to contact ATAHK at anytime by calling Hotline: 86-755-82143410， E-Mail: 2355725105@qq.com