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Wholly foreign owned enterprise Formation in Beijing

Last Updated: Oct. 16, 2017

 

Establishing a Wholly Foreign Owned Enterprise in Beijing:

Popular districts by PtC's clients in Beijing: Chao Yang, Haidian, Dong Cheng, Xi Cheng

Registered capital: No. minimum registered capital is required for WFOEs with scope of business of consulting, Trading, retailing, information technology etc. in Beijing. There are minimum registered capital still required for some sectors, for instance: Banking, Forwarding, education etc.

 

Information provided below will guide you to:

Documents Required & Registration Procedures of WFOE

Condition(s):

Since 2016, no paid up capital is required for foreign investor to establish a Consulting, Trading or Information Technology business etc.in Beijing.

Below is the required documentation for WFOE formation in Beijing. (Item 1,2,7,8 should be prepared before visiting Beijing:

CHECKLIST:

Documents required

  • Corporate investor: 2x Certificate of Incorporations, Articles of Formation or Equivalent document certified by Chinese embassy or Chinese consulate overseas [UK , US, HK, AUS, RUS, SGP, GER, SWE, ISL etc. ] ]As f For individual investor: 2x Passport copies of Investors need be certified by Chinese embassy or consulate. [investorindividual investor] Double check with us if individual investor is currently in Beijing as some districts accept individual investor(s) to submit the application without passport copy to be certified. .
  • 1x Bank Reference Letters from investor’s bank (declare a good standing)[-bank refernce letter-]
  • Passport copy of: (i) Parent company's director (ii) Beijing company's Legal Representative (managing director) and (iii) Beijing company's supervisor
  • Beijing Legal Representative (managing director) provides: 6 photos (2 inches size), brief resume [ -Sample- ]
  • Registered capital; Business Scope; 8 proposed Chinese names of China company
  • Office address in Beijing: 2x leasing contracts [-contract- ] , 2x certificate of real estate ownership [-Sample-], and 2x landlord identification [ Individual, Company ]
  • 4x Letter of Authorization [-Sample-]
  • For Trading WFOEs only: The latest annual audit report copy from the parent company: provided by a Certified Public Accountant (CPA) [-audit report-] and Customs HS Code of proposed Import/Export products in Beijing[ Codes ]

The above documents are good enough to register a Trading WFOE, Service WFOE & Consulting WFOE in Beijing . For a manufacturing WFOE establishment in Beijing, you will also need:

  • Purpose and estimated investment
  • WFOE's operational structure and number of employees
  • Permission for land use, environment evaluation report
  • Products, size of production, detailed list of equipment, and business plan
  • Environmental protection measures
  • Requirement for utilities such as power and water supply

Registration Procedures

Foreign investors are not permitted to directly submit the application documents of incorporate a WFOE to the relevant authority in Beijing. They must retain a PRC entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authorities on behalf of the foreign investor. Procedures for setting up a Wholly Foreign Owned Enterprise in Beijing are the following:

  • Name registration with Beijing Administration of Industry and Commerce (BAIC)
  • Certificate of Approval by Beijing municipal commission of commerce
  • Apply for Business License with BAIC [-what is a business license?-]
  • Chops made by Public Security Bureau (PSB) of Beijing
  • Organization Code License by Beijing Technical Supervision Bureau (TSB)
  • Tax Certificate by Taxation Bureau of Beijing
  • Registration and Approval with State Administration of Foreign Exchange (SAFE)
  • Open foreign currency and RMB bank account
  • Inject capital from investor’s overseas bank account
  • Capital Verification Report by Certified Public Accountant (CPA)
  • Apply for permanent Business License with SAIC
  • Financial certificate registration
  • Statistics license registration
  • Import/Export license (applicable for Trading & Manufacturing WFOE)
  • newValue Added Services: Free Visa service, 2 months accounting serivce and morearrow

More information about WFOE:

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