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China Company - Wholly Foreign Owned Enterprise - IT

  • a) Business Nature
  • Development, design and production of the computer software, multimedia and network system software.
  • To design, Adjust, maintenance and install of the computer system integration. Data processing, related technology consulting and service.
  • b) General Information
  • 1. Registered Capital
  • -- It should be depending on the feasibility study and 100,000 RMB at least ;
  • -- The registered capital can use to cover all expensed which happens on WFOE. If the WFOE will have no income in the first two years, the Registered capital is better to cover the two years' expense.
  • -- The registered capital should be above 800,000 RMB, and then WFOE can apply the 17% VAT invoice as the general tax-payer qualification. Since getting this qualification, WFOE can enjoy the tax rebating and VAT deduct.
  • -- 20% should be arrived to WFOE's bank account in first three month. The balance should be arrived within 2 years.
  • 2. Registered Address
  • -- The company should rent the office which is 30 sq.m. at least.
  • 3. Time schedule : around 3 and half months for whole procedure. The business licenses can be got in one more months after all the documents prepared.
  • 4. It can be set up branch office and company in same and other city.
  • 5. Since some document like Bank reference and Legalization / notarization document for mother company is required.
  • Bank reference :
  • -- At least "no bad record" shown in the bank reference ;
  • -- Other requirement depends on the project.
  • Legalization / notarization document :
  • -- The document should have two copies ;
  • -- The document should include company license, company article, company shareholder and director info depending on the project ;
  • -- The document should be processed on the mother company's local Chinese Embassy. Normally, it may cost no definite time depending on the local Chinese Embassy.
  • c) The Required Documents (as reference)
  • Prepared by client
  • -- Five enterprise's name (Chinese) to be prepared for new company ;
  • -- The copies of Business license or certificate of incorporation or Commercial Registration and Brief Introduction of investor ;
  • -- The company introduction ;
  • -- The passport copy of the legal representative of the investor ;
  • -- The resume and four photos (one inch ) for legal representative ;
  • -- The supervisor's passport copy ;
  • -- Lease Agreement for the WFOE to be established. (Copy, The contract must be for not less than one year) and the property right certificate of the owner(copy with the seal).Certifying the contract by the estate bureau depending on the registration location.
  • -- Embassy Certificate: The business license should be certified by Chinese Embassy in investor country.
  • HK company: The HK company‚Äôs license certified by Chinese Law service (HK) company
  • -- Bank Reference Letter. This letter should be issued by a non-Chinese bank that has business relations with the foreign enterprise with validity of six months ;
  • -- All documents in foreign language should be translated into Chinese.
  • Prepared by Us
  • -- The appointment letter of the member of board ;
  • -- The Article of association ;
  • -- The Feasibility study report : Drawing by us, signing by investor.
  •    Please supply the following information :
  •         -- Business scope & products list ;
  •         -- The business plan within three years of new company included Sales Quantity & Sales amount for each product, business mode ;
  •         -- Organization structure and employee's quantity ;
  •         -- Estimated the total investment value and its assignment, estimated register capital.
  • -- Entrustment Agreement ;
  • -- The application for registration form made by Administration for Industry & Commerce.
  • d) The Procedure
  • -- Signing the Entrustment Agreement
  • -- Prepared the required documents
  • -- Name checking application
  • -- Getting Approved License from Foreign Economic Relation Commission
  • -- Applying the temporary business License from Administrative Bureau For Industry & Commerce
  • -- Applying Organization Enterprise code license
  • -- Applying Tax license
  • -- Making the chops
  • -- Apply the Foreign Exchange registration in State Administration of foreign exchange bureau
  • -- Opened the capital bank account
  • -- Opened the RMB bank account
  • -- Injecting the capital to the bank account
  • -- Capital verification by accounting firm
  • -- Revising the Business license
  • -- Applying the statistic bureau
  • -- Custom Registration
  • -- Financing Registration

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