Guidance of China Company Incorporation
Incorporate a Private Limited Company in Mainland China
Once you have decided information of incorporation a limited company in Shanghai mainland China, and confirmed all structure of shareholders, company name, directors and legal representative of enterprises, business activities, registered capital, etc, here you can begin incorporating your own Chinese company immediately.
- Shares: wholly owned by foreign shareholder(s)
- Corporate Structure: flexible
- Market Access: openness
- Industries: trade and service
- Legal Basis: China Foreign Investment Laws
- Minimum Capital: 20,000 USD
- Company Types: LLC, LLP
- Procedure: 20 working days
- Bank Account: 5 workdays
- Required Documents: certificated documents
- Published by: SMEsChina.com
SMEsChina help with
SMEsChina will assist you collecting and preparing the required official documents and forms, our firm provides a full range of services for company setting up, government agent of company incorporation, monthly and quarterly accounting, CPA, audit, taxation registration and compliance, local bank account and internet banking opening etc.
If you want to set up a wholly foreign owned enterprise in mainland China, you have to learn the requirements and procedures of registering a WFOE in mainland China. Before learning this guidance, SMEsChina suggests you to read 3 guidances first, How to Set up a Management Company, Setting up Consultancy Business, and How to Open a Trading Company, to decide your Chinese business activities belong to service industry or trade industry.
You can start up and run your Chinese planning and expand businesses. The meaning of private limited company is that legally type of company incorporation, independent financial system and after reporting and paying taxes you can keep the profits.
With the innovation of new 5-in-1 business license and the reformation of registered capital subscription system, the procedure of establishing a business has become easier and quicker to obtain approval from local government offices. Whatever your China company does, we have confidently and expertly experience to solve different industrial cases with our fast response services.
Providing assistance in incorporating Chinese limited company:
1. Deliver certificate of business registration from foreign enterprises register department.
2. Apply for business license from business registration department.
3. Apply for company stamps, official seals.
4. Submission of bank account opening.
5. Apply and set up internet banking online system.
6. Chinese taxation registration.
7. Issue Chinese VAT fapiao / invoice machine.
Set up a company without being physically present
All directors and company’s position needn’t Chinese citizen, you may appoint any foreigners be the shareholders, legal representative and supervisor. If you do not intend to come here in person, you can get notarization and authenticate documents for China embassy for your passport and registration certificate of abroad enterprises. After done the procedure of company registration, our CPA will assist you going to bank open account and do the tax registration.
Collect official documentation of company registration
After you confirmed all structure of shareholders, company name, directors and legal representative of enterprise for your Chinese company incorporation, our lawyers will send you all Chinese incorporate documents and files package, official forms etc that local government required to prepare. And we will submit these you signed files to local government checking. If everything OK, government will approval your application within 5 working days and give you a local 5-in-1 new business license.
Your company successfully registered
After we got the legal business license from Chinese local government, we also provide you the bank account opening and help you to move ahead with taxation registration. With our professional services, we can make sure that all documents and original licenses, permits will be taken care in our office and and information will be kept confidential.
If you are looking forward to incorporate a Chinese private limited liability company in Shanghai Mainland China, don’t hesitate please, contact our online consultants at once.
What Information of Registration Need to Confirm?
If you are intending to set up a WFOE as private limited company, you have to entrust a local legal firm to help you submitting the documents of incorporation to government departments, and inform local governments the following information:
1. an available limited company name in Chinese and English.
2. more than one shareholder at least, and the list of shareholders.
3. a legally registered address of China company.
4. details shares of the company
5. standard classification for your industry, business scope and economic activities.
6. how much the registered capital you want register
7. the legal representative and supervisor appointed by shareholder(s)
8. local company secretary
9. local financial person for future’s accounting and bookkeeping
10. list of significant control person
Requirements and Procedure of Incorporation
1. Choose a available name for your Chinese company
This is a necessary procedure and first step for China company incorporation, here you need providing Chinese name approval to government office first, and then you can apply for English name. Your Chinese company name can not be the same as another existed Chinese company, the end of Chinese and English company must include Limited or Ltd, or Group. And also, your company name can not contain sensitive words or characters. Learn more: Naming Rules and Requirements
2. Legal registered office address
In mainland China, there are 2 kinds of office address you can use it as your official registered address and all of them can be accepted from local government departments once reporting the licenses registration, one is virtual registered address and another is physical address ( rent real office ), and you can use these address to running and managing your Chinese corporation. Learn more: Reasons of Using a Virtual Address
3. Confirmation of corporate structure and organization
Appoint a local legal firm as your company secretary, and shareholders appoint the legal representative and supervisor, members of the board of directors. After all documents have been collected, we will report to government for your private limited company. Learn more: Corporate Structure of Company
4. Memorandum and articles of association
Legal statements need initial owners to sign and all shareholders agree all Chinese legal documents and files, and reporting the forms of corporate structure and organization. and once you want to change company registration information in the future, need to update the memorandum and articles of association.
5. Register your own Chinese company
If you have done everything from our online consultants, you can register a private limited company right now, you can send all information and deliver the documents to our experts, do not forget to courier needed original forms to us. Once you have above confirmation of register information, you can set up and register your own private limited Company in Mainland China.
6. Open a bank account
After done the above 5 steps, need China company to open a local bank account, and apply for internet banking and bank permits.
7. Tax registration for your WFOE
You need to confirm which type of tax degree you want to apply from tax government, normally there are 2 types of taxpayers in mainland China, one is small scale taxpayer ( small invoice ) and another is general taxpayer ( VAT invoice ), you must choose one at the beginning once you apply for the tax registration. and future when you running your Chinese private company, you must report the following finance to tax government:
1.Monthly VAT declaration
2.Monthly personal income tax reporting
3.Monthly additional tax declaration
4.Monthly stamp tax declaration
5.Quarterly corporate income tax reporting
6.Yearly annual joint inspection
7.Yearly tax and finance settlement reporting
8.Yearly annual joint audit report
OK, Congratulations, everything have done right now, you have own Chinese private company and its legal and you can running it anytime according to your needs.
For non-residents, business formation is the same as local citizens, do not worry about your nationality please, in China, no restrictions on foreign nationals incorporating a WFOE, LLC, JV, or LLP, and being a shareholder (owner), executive director (legal representative), and supervisor (secretary). You do not need to visit China personally, the whole procedure (registration of license, bank accounts, tax compliance and annual inspection) will be completed by our experienced legal teams.
Our standard service packages of China company formation include government filling costs and application of certificate of incorporation as well as preparation of required documents. Ideal for our customers who wish to seek legal assistance with future’s corporate maintenances and daily operations. If you have everything to start up a private business in China, you may communicate with our consultants and lawyers immediately.
And, if you also need to hire employees, pay social insurance, inject registered capital, trademark registration, import and export licenses, apply for foreign employee work visa and residence permit, you may contact our online experts.
Have Decided to Incorporate a Company in China?
Here SMEsChina provides some useful information for your China company registration, after you learning these guidance, you can get better understanding. If you have everything to incorporate a business in China, you can get in touch with our teams, email: [email protected]
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