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Set up company in PRC (Greater Bay Area)

Set up company in PRC (Greater Bay Area)
As the second largest economic system in the world, China is regarded as a country with great development potential. China's rapid development has brought unlimited business opportunities to foreign-funded enterprises and attracted different industries to enter the Chinese market. China joined the World Trade Organization and pledged to open up the business sector to foreign investors. Our professional team provides one-stop service to lead your company to successfully establish a company in China and expand business in the Chinese market.

Wholly Foreign-Owned Enterprises

It is an independent legal entity in China with limited liability, wholly owned by one or more foreign investors and established entirely with foreign capital. “WFOEs” can carry out business within its registered business scope. This kind of company is increasingly being used for service providers such as a variety of consulting and management services, software development and trading.

Advantage of “WFOEs”

  • Carry out business in China with VAT invoice
  • Capability to convert RMB to US dollars and remit out of China as dividend
  • Freedom for importing and exporting products
  • Full control over its resources

Capital requirement for “WFOEs”

There is no expressed minimum capital requirement for the establishment of “WFOEs” nowadays, tough it is recommended to set with a sufficient amount to cover the initial capital investment and expenses of WFOE before deriving its first income. As additional cost will be incurred, if reapply for permission to increase capital, additional licensing fees, renewals of business license and so on.

Equity Joint Ventures (“EJVs”)

It is a legal entity with limited liability and is incorporated by a Foreigner with a Chinese partner. The Chinese partner must be a company instead of an individual, while the Foreign partner can be either of them. Both partners’ liability is limited to the capital contribution to the JV.

China Company Registration Requirements:

  • Must provide a physical registered address
  • At least 1 shareholder, shareholders have no nationality restrictions
  • At least 1 director, if there is only one director, the person will also act as the legal representative
  • At least 1 supervisor, this person cannot be the director or legal representative of the Chinese company at the same time
  • If a Hong Kong company acts as a shareholder of a Chinese company, its Hong Kong company must be notarized in China

Our services include

  • Provide registered office and agent
  • Business registration
  • Review of Due Diligence Documents
  • Provide the relevant documents of the company secretary
  • Annual filing and renewal
  • Assistance in processing Chinese notarized documents

Time Required

30 working days at soonest