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Wholly foreign owned enterprise Formation in China

Last Updated: 10 April, 2014

[Since March 1, 2014] No. minimum registered capital is required for WFOEs with scope of business of consulting, Trading, retailing, information technology etc. in China. There are minimum registered capital still required for some industries for instance: Banking, Forwarding etc.

Since China still maintains foreign currency control policy, it's still advisable to choose registered capital within RMB 100,000 ~ RMB 500,000 as the minimum registered capital for Consulting WFOE, Service WFOE, Hi-Tech WFOE registration in Shanghai, Beijing, Shenzhen, Tianjin, Guangzhou, Hangzhou, Ningbo, Suzhou and many other cities of China. (Investor could inject the above capital within 2 years) Information provided below will guide you to:

. Information provided below will guide you to:

Documents Required & Registration Procedures of WFOE

Condition(s):

Our suggested minimum registered capital for consulting WFOE, Service WFOE, IT WFOE: RMB 100,000 ~~ 300,000. Approx. USD$ 50,000 or Euro 35,000. (20% as initial paid-up within 3 months and the balance 80% should be injected within 2 years)

For Trading or Manufacturing WFOE registration in China, our suggested minimum registered capital is USD 80,000 or 58,000 EURO (20% as initial paid-up within 3 months and the balance 80% should be injected within 2 years)

For Food & Beverage WFOE registration, the minimum registered capital would be RMB 300,000 - 500,000 (20% as initial paid-up within 3 months and the remaining 80% should be injected within 2 years)

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

CHECKLIST:

Documents required

  • 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. ] 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 China as some cities in China allow individual investor to submit with their original passport.
  • 2x Bank Reference Letters from investor’s bank (declare a good standing)[-bank refernce letter-]
  • Passport copy of: (i) Parent company's director (ii) China company's Legal Representative and (iii) China company's supervisor
  • China Legal Representative provides: 6 photos (2 inches size), brief resume [ -Sample- ]
  • Registered capital; Business Scope; 8 proposed Chinese names of China company
  • Office address in China, 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 China [ Codes ]

The above documents are good enough to register a Trading WFOE, Service WFOE & Consulting WFOE. For a manufacturing WFOE establishment, 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 China. 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 China are the following:

  • Name registration with State Administration of Industry and Commerce (SAIC)
  • Certificate of Approval by Ministry of Commerce or Foreign Economical Cooperation Bureau
  • Apply for Business License with SAIC [-what is a business license?-]
  • Chops made by Public Security Bureau (PSB)
  • Organization Code License by Technical Supervision Bureau (TSB)
  • Tax Certificate by Taxation Bureau
  • 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:

Contact Our Regional Partners in Holland, Beijing, Shenzhen, Shanghai, Ningbo, Hangzhou or Hong Kong for more details:


Office Time: Monday To Friday 0900AM-1730PM


Europe Office:
Regional Manager: Ms. Nancy Liu (Holland)
E-mail: nancy.liu@pathtochina.com [or Request For Proposal]
Tel: (31) 65.140.4722 GMT+1 (You can inquire in English)

Shenzhen & South China Office:
E-mail: bill.su@pathtochina.com [or Request For Proposal]
6009 Yi Tian Road, Suite 2306, New World Tower,Shenzhen 518035
Tel: (86-755) 6128.6800 (You can inquire in English, Cantonese and Chinese)
Mobile: (86) 136.8649.3886
Regional Manager: Mr. Bill Su

Beijing & North China Office:
E-mail: gifty@pathtochina.com or [Request For Proposal]
5/F CBD International Mansion, 16 Yong'An Dong Li, Chao Yang District, Beijing 100022, China [-MAP-]
Tel: (86-10) 5166.4212 (You can inquire in English and Chinese)
Tel: (86-10) 6563.7624
Regional Manager: Ms. Gifty Jia

Guangzhou Office:
161 West Lin He Rd., 23F, Tower A, Center Plaza, Guangzhou, 510620
-Request For Proposal-
Tel: (86.20) 6113.5690
Consultant: Mr. Forest Liang (You can inquire in English and Chinese)
liang@pathtochina.com

Shanghai & East China Office:
E-mail: lijun@pathtochina.com[or Request For Proposal]
1038 West Nanjing Road, Suite 2508, 25 Floor, Westgate Tower, Shanghai 200040, China [-MAP-]
Tel: (86-21) 5108.8535 (You can inquire in English, Chinese and Shanghainese)
Regional Manager: Mr. Li Jun

Hong Kong Office:
E-mail: simon@pathtochina.com [or Request For Proposal]
Suite 1701, HeNan Building, 92 Jaffe Road, Wanchai, Hong Kong[-MAP-]
Tel: (852) 6877.8862 (You can inquire in English)
Regional Partner: Simon Lee
Fax: (852) 8198.0080


Hangzhou Office:

E-mail: grace.lim@pathtochina.com [or Request For Proposal]
Hangzhou Liaison Office: Suite 4202, 4/F, Euro America Center[-MAP-]
18 Jiao Gong Rd., Hangzhou 310007, China
Regional Consultant: Ms. Grace Lim
Tel: (8621) 6218-9991 (You can inquire in English and Chinese)


Ningbo Office:

E-mail: dong@pathtochina.com [or Request For Proposal]
Ningbo Office: 396 KaiMing Street, Suite 1420, Haishu, Ningbo, 315010[-MAP-]
M: (86) 137.8000.3181 (You can inquire in English and Chinese)
T: (86 574) 8716.4655
Regional Consultant: Mr. Dong Dong


Other Cities of China:
E-mail: info@pathtochina.com
Regional Manager: Mr. Stuart Firestein (You can inquire in English)
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