How long does it take to set up a WOFE in China?

Setting up a WFOE takes 2 to 3 months. We’ll need to prepare all incorporation documents, open your Chinese corporate bank accounts, and assign a legal representative.

How long does it take to set up a WFOE?

The process of establishing your WFOE takes around 1-2 months – but besides taking a little while, it’s relatively straightforward.

How long does it take to register a company in China?

The process of registering a business

Setting up a business in China overall generally takes three to six months and involves various government authorities and procedures that may differ depending on the industry your business is in and the structure you have chosen.

How much does it cost to set up a WFOE in China?

Typically, setting up a WFOE in China with this type of firm will cost around RMB10-20,000. Unlike large international firms, these companies care about and need your business, and so are likely to make a great effort to please clients at every turn.

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How do I start a WFOE in China?

The process of setting up a WFOE can be broken down into 2 parts, namely: the Pre-License Procedure, and the Post-License Procedure. While the process varies depending on the type of enterprise being established, below we outline the main aspects that are common to all three types.

What is a Chinese WFOE?

The most popular entity for doing business in China is the Wholly Foreign Owned Enterprise (WFOE), which is a company established in China according to Chinese laws and wholly owned by one or more foreign investors. … This should cover initial investment expenses and may be used immediately for the company’s operations.

What is a Woofi?

Foreign investment enterprise. showTranscriptions. A wholly foreign-owned enterprise (WFOE, sometimes incorrectly WOFE) is a common investment vehicle for mainland China-based business wherein foreign parties (individuals or corporate entities) can incorporate a foreign-owned limited liability company.

How much does it cost to set up a company in China?

Fees

Different China entity types Cost Draft invoice
Subsidiary LLC US$16,650 View invoice PDF
Holding company LLC US$17,650 View invoice PDF
LLC with employment visa US$21,600 View invoice PDF
Hong Kong legally tax exempt company US$8,910 View invoice PDF

Is it hard to start a business in China?

As you could see, starting a business in China is not so easy, especially for many small and medium companies that many times don’t have the resources to deal with company formation, taxes, HR, regulations. In China, it is possible to start a business in an easier and low-risk way.

Can you open company in China?

Can Foreigners Own Companies In China? The answer is, “yes.” They can own companies by incorporating them in China. For example, a foreigner can incorporate a wholly foreign-owned enterprise (WFOE), open a joint venture, or start a representative office.

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How much is it to rent a factory in China?

In 2019, the average monthly rent of a warehouse space in China amounted to 44.3 yuan per square meter. The demand of warehouses has been increasing in China, consistently driving the rental prices up.

How do I get a business license in China?

To register in Mainland China, companies are required to apply to the relevant authorities for a business license. This application is usually made at the company’s local Administration for Industry and Commerce (AIC).

How much does it cost to open a factory in China?

While there is no minimum capital requirement anymore for opening a company in China, it is prudent to invest a certain amount of foreign capital into the company. 3. The operational cost to open a company in China starts from USD $2000.

What is ICP license China?

ICP licenses are issued by the Chinese government to China-based websites and allow licensees to host websites on servers in mainland China. … China requires a commercial ICP license for websites that generate income from online sales or advertising, in addition to websites that permit payment transactions.

What is foreign funded enterprise?

A foreign invested enterprise (FIE) is a business form which allows an enterprise to invest financially in a business or project in a foreign jurisdiction. This particular business form is most commonly used when doing business in China, but it is also used in other jurisdictions, especially in Asia.

What is a VIE structure?

A VIE structure allows founders and investment funds to set up offshore vehicles that can sign contracts with Chinese companies, giving the latter effective control of the entity. Investors only enjoy the economic benefits of the arrangement, and do not own the onshore operating companies.

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