PathToChina.com

By Vincent Cheung from www.pathtochina.com  

 1. From November 20005, freight forwarding WFOE are allowed to be established in Shanghai
2. A minimum registered of 5 Million RMB is required for the establishment in Shanghai
3. You need to hire at least five licensed custom brokers

4. Permanent office premises and the necessary facilities are necessary

5. You are only allowed to set up branches after at least one year’s operation in Shanghai and all required registered capital has been contributed

6.20% of your registered capital should be contributed immediately, and the rest should be contributed within two years after the issue of business license. 7.Usually, the set up timing a longer than normal WFOE formation

8.Scope of business of a freight forwarding WFOE is clarified below:(Some of them require approvals)   　

1) Booking cargo space （chartering ship, plane and cargo space）, forwarding, storing and packing;　　

2) Supervision of goods loading and unloading, container assembling and deconsolidation, allocating, transferring and other related short distance transportation service;

3) Declaring at customs, reporting for examination, inspection and insurance as an agent;　　

4) Filling related bills, paying freight, settling accounts and paying miscellaneous expenses;　　 5) Forwarding agent for international exhibits, private goods and trans-frontier goods;　　

6) International multi-modal transportation and centralized transportation （including container consolidation）;　　

7) International express （excluding the business of delivering private letters and official documents of the organs of Party, government and armed forces at the level of higher than county）;　　

Consultation and other business relating to international forwarding agent.

9）Usually, the operation term should not exceed 20 years

10) You need to apply to SMERT (Municipal Foreign Economic Relation & Trade Commission) for the approval. Following documents need to be submitted  

1) Application;　　

2)Project feasibility study report;　

3)Contract and rules of the enterprises establishing foreign-funded international forwarding agent, only rules needs to be provided for establishing an international forwarding agent of foreign exclusive ownership;　　

4)Name list of members of board of directors and appointment letters for the directors from all parties;　　

5)Notice of pre-verification of enterprise name issued by industrial and commercial administrations;　　

6)Registration and credit certificate of the country or area the investor is located in. 

11.You have to issue “international freight forwarding special invoice”.

Provided by www.PathToChina.com“”Path To China “ is an International Business Consulting Firm that provides foreign investors with business registration service in China. For business registration service , please contact Vincent by vincent@pathtochina.com.

Shanghai: Tel: (8621) 5102.5279 Email: sales@PathToChina.com Suite 9B, 485 North HeNan Road (N.) Shanghai 200071

This entry was posted on Thursday, October 18th, 2007 at 10:13 am and is filed under Establishing Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.