Can carry out all activities according to its business licence
Can negotiate for tax incentive with local government
Can hire local staff
Capital injection is required to meet the minimum level for specific industry and in specific territory of China(such as free trade zones and export processing zones)with a mimimum capital of 140,000 US$
A (Chinese) legal representative needs to be appointed and take up the unlimited liability
Select profesionnal advice regarding the place you want to set-up your business,because the application may have profound effect if not properly filled in,must be in Chinese language.
A legal representative needs to be appointed who is the ultimate person taking up all responsibility of Foreign Owned Enterprise.
Set-up steps :
Preparing and Presenting a Project Proposal
The foreign investor has to complete a project proposal and present it to the government authority that will approve or not on the proposal (1 month)
Submitting the proposed company names,
3 optional names are required.
Preparing and Submitting a Feasibility Study Report
After approval,the foreign investor has to prepare a feasibility study. with local help of the authorities
Submitting the Articles of Association
Application for the Approval Certificate (1 week)
Application for the Business License
( 30 working days )
The Foreign OwnedEnterprise is officially established on the date when the Business License has been issued.
Document Requirements :
Bank creditbility statement of the foreign investor
Project proposal (purpose, business scope, period,investment amount, among others)
Certificate of registration
Statement on the products and technologies
Duplicate of confirmation letter of the 3 proposed company names
Report on feasibility study
Memorandum and Articles of Association
Name list of the board and senior executives
List of equipment to be provided (if any)
Passport or residential card of the legal representative
Lease agreement or purchasing contract of company premises
Certificate of property of the lessor
Authorisation documents for the board and senior executives
Photos of legal representative
Other documents that the authorities may require as per specific cases.
If you need specialised info on how to form and to run such type of Chinese Company,contact our lawyers in Shangai, FREE chat PC2 PC, with SKYPE,(i.d : Carthagena Management),at : firstname.lastname@example.org
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