Requirements of setting up a limited liability partnership in Shanghai China
Considering setting up a LLP ( limited liability partnership ) as company type and registering an own business entity from Shanghai foreign enterprises business registration bureau, you had better appoint a local laws firms to assist you preparing the requirements documentations and going to administrative bureau of industry and commerce to submit the application of a limited liability partnership registration. You need to have a good understanding and knowledge through the below useful information to familiar with more register procedure and basic requirements for forming a limited liability partnership in mainland China.
Meanwhile, if you are intending to set up a LLP or LLC in mainland China, you may ask our consultants offering further guidance and files checklist to you, all requirements legal files required by local government offices depending on which industry you eager to establish.
What is limited liability partnership
LLP ( limited liability partnership ) is a legal company type governed by local industrial and commercial administrative department and foreign enterprises registration office, its a normal business entity and shared by owners ( shareholders and partners ), all members can set up their proportion of owned through the voting of the board of shareholders. Unless basic structure of shareholders, you have to appoint one person to be the legal representative, and another person as the supervisor under this limited liability partnership. Any individuals and corporations from all over the world can be the shareholders of limited liability partnership. Learn more: Incorporating a LLP
Steps of registering a LLP in China
| Steps: | Topics of Study: | Links of Reference: |
|---|---|---|
| Step 1 | Decide what types of software company, depends on your key structure of corporation (shareholder’s structure). | Selecting a company type |
| Step 2 | How to choose an available company name with bilingual for your private limited company. | Naming rules and requirements |
| Step 3 | List detail business activities from 10 industrial categories. | Selecting business scope |
| Step 4 | Set up the registered capital for your limited company. | Company registered capital |
| Step 5 | Set up core people of your local corporation, and key positions. | Decide corporate structure |
| Step 6 | Required documents you have to prepare in your country. | Documents required to register a company |
| Step 7 | Prepare notarization and authentication documents issued by China embassy. | Notarization and authentication documents |
| Step 8 | Download application forms and legal files and after filling and signing, courier to SMEsChina offices. | Company formation documents download |
Basic requirements for LLP registration, formation
2 initiators at least and all of them will be the board of shareholders carry out the formulation of the articles of association and draft out appointment documents providing to local government offices approval. Below are the basic information you need to confirm:
1. list of shareholders
2. LLP company name
3. supervisor and legal representative
4. business activities
5. Registered capital
6. Registered address
7. accountant
If you confirmed above information, we will assist you to draft out all official documents and forms of company registration from local government departments.
Core requirements of setting a local LLP
| Key Structure of the Company: | Required Documents you have to prepare in your home country: | Remarks: |
|---|---|---|
| Corporate Shareholder | Notarization and authentication documents for the certificate of registration of foreign parent company issued by the Chinese embassy. Learn more: Embassy Notarization Authentication Documents | 2 sets, bilingual |
| Individual Shareholder | Digital photo, notarization and authentication documents for the passport issued by the Chinese embassy. 16 years old at least. Learn more: Embassy Notarization Authentication Documents | 2 sets, bilingual |
| Legal Representative – Chinese People | Original ID card, 16 years old at least. Digital photo. | none |
| Legal Representative – Nonresident | Digital photo. Notarization and authentication documents for the passport issued by the Chinese embassy. 16 years old at least. Learn more: Embassy Notarization Authentication Documents | 2 sets, bilingual |
| Supervisor – Chinese People | Original ID card, photo, 16 years old at least. Digital photo. | none |
| Supervisor – Nonresident | Passport copy, photo, 16 years old at least. Digital photo. | none |
| Financial Manager | Local ID copy, photo, 16 years old at least. Digital photo. | none |
How registering a LLP in China
LLP registration is very simple and there are not any difference with limited company incorporation, you can prepare basic requirements files and information and send email to our online consultants to ask for a details checklist, and we will guide you to collect the legal files from China embassy that required by Chinese administrative bureau of industry and commerce.
How long would it take for establish a LLP entity
General speaking, total register process need 3 weeks if you have prepared all required documents and information. And from our experience, 3 weeks later you will obtain a business license from local government office and issued by administrative bureau of industry and commerce.
20 days timetable of incorporating a local LLP
| Description of Each Step: | Time Required: |
|---|---|
| Chinese LLP company name submit, search and obtain approval | 3 working days |
| Download and signature of the required documents of company formation (see below) and courier to SMEsChina | 5 working days |
| Obtain the certificate of foreign owned (investment) enterprise and the certificate of business registration (known as: business license) | 5 working days |
| Apply for the company stamps (known as corporate seals) and obtain approval | 2 working days |
| Open a local corporation bank account and internet banking | 5 working days |
What need I to do for following up the rest of steps
Once you completing the company registration procedure and you should apply for the company stamps, this stage only need 1 working day.
And then, sure, you need to open a bank account from local Chinese banks, this stage is also simple need around 5 working days, the required documents only your legal business license and company stamps and copy of passport of legal representative.
When need I open tax registration from tax office
Chinese tax office mandatory provisions that all legal registered enterprises have to do the taxpayer registration within 30 working days once you obtaining business license. Then LLP can as a legally entity in mainland China and permitted doing business activities.
How opening a LLP bank account
| List of Requirement: | File / Documents Description: |
|---|---|
| Approved 5-in-1 business license | Original business license and copy with company stamp |
| Certificate of foreign owned enterprises (known as: approved certificate of business registration of foreign invested enterprises). | Original business license and copy with company stamp |
| Identity certificate of China company’s legal representative | Chinese people needs original ID card and copy Foreign people (nonresidents) needs original passport with entry record within 6 months (if the foreign legal representative does not want to visit China, can issue notarized passport from China embassy instead of original passport). |
| Application forms of opening bank account | You can entrust a local accountant going to bank and filling in the information and submit to bank to get approval. |
| Make a video | Corporate legal representative (know as executive director) takes his/her passport in hand and read the required content (contain the company registered number, tax ID, and passport number and other information). |
| Appointment letter | Entrust document signed by the legal representative |
What can SMEsChina teams do for a LLP company incorporation
As a local accredited laws firm, our key services are providing legal consulting and company registration agent services, our professional accountants and solicitors are becoming increasingly popular for non residents because our services through out all corporate legal compliance services from market admittance consultation, company registration, accounting and bookkeeping, HR and residence permit, trademarks to future’s merger and acquisition, brands management consultants, preferential taxation application and strategic management of foreign enterprises. If you are interested in our teams, Why do not contact us right now.
Price list of company incorporation
Service Industry
- Government Costs
- Certificate of Registration
- Business License
- Seals/Stamps
- Virtual Business Registration Address ( 12 months )
- Annual Tax Compliance ( 12 months )
Trade Industry
- Government Costs
- Certificate of Registration
- Business License
- Seals/Stamps
- Virtual Business Registration Address ( 12 months )
- Annual Tax Compliance ( 12 months )
