Business Registration in China
Business registration in China is the first step to making your venture official. To start a business you need to decide what type of business structure and which name you want to register when filing the necessary paperwork. It will show your legal name use on licenses, permits and other government forms.
The type of business you register has an impact on your personal liability when you obtain financing. It is also the legal entity of your business administration of financial, legal and tax obligations. It is a legal document indicating the name of your business, the type of business and every other necessity that needs to be decided before starting up your venture.
Easy Business Solutions offers you an overall support to set up a company in China’s top and the most desired destinations: Beijing, Tianjin, Shanghai, Shenzhen, and Hong Kong under the three different structures.
1: W.F.O.E. ( Wholly Foreign Owned Enterprise)
2: J.V. ( Joint Venture)
3: R.O. (Representative Office)
"If it comes to new office start-up consultation in any city of China, Sarah of EBS comes first in our mind. We highly recommend her service for different business solutions in China.
Business Registration Process in China
Stage 1 - Check name and Pre-approval of name of WFOE
Authority: State Administration of Industry and Commerce (SAIC). Processing time is within 7 working days.
Stage 2 - Foreign Investment Approval
Authority: Municipal Bureau of Commerce. To get the Certificate of Approval needs 20 working days and business license processing time is within 5 working days.
Stage 3 – Processing of Organization Code License
Authority: State Bureau of Technical Supervision (The Administration Center of Organization Code). Processing fee is RMB 230 and processing time is 2 working days after acceptance of registration.
Stage 4 - Industry and Commerce registration
Authority: State Administration of Industry and Commerce (SAIC). Processing fee is 0.08% of amount of registered capital +RMB 20 and processing time is 7 working days.
Stage 5 – Tax Certificate by Taxation Bureau
Authority: Municipal Local Taxation Bureau. Processing fee is RMB 20 and processing time is within 5 working days.
Stage 6 – Verification report
Authority: Elite Stage. Processing fee is RMB 3800/time and processing time is within 7 working days.
Stage 7 – Engraving Services for Enterprise Seal to be used on official documents
Authority: State Public Security Bureau. Processing fee is RMB 500 and processing time is within 2 working days.
Stage 8 - Registration of Administration of Foreign Exchange for overseas fund transfer
Authority:Foreign Exchange Control. Processing time is 20 days after acceptance of the registration.
Stage 9 – Opening Bank Account and verification capital account
Customer Processing: Any reputable banks. Processing time and fee depend on the charges of each bank.
Stage 10 – Registration for Financial License
Authority: State Financial Bureau. RMB20 and processing time is 2 days after acceptance of the registration.
Stage 11 – Registration for Statistic and Audit License
Authority: Regional Bureau of Statistics of China. RMB20 and processing time is 2 days after acceptance of the registration.
Stage 12 –Final Business License
Authority: Municipal Bureau of Commerce. processing time is within 5 working days.
Wholly Foreign-Owned Enterprise
The company name can not be identical or almost identical to the name of any other registered company, except for companies with investment relations. It is highly recommended to produce several names for the pre-checking.
The Chinese name are permanent and legally binding, though the English name can be changed after registration. All documentation will be under the Chinese name of the company.
Translating the name phonetically into Chinese or by its meaning from a foreign language name is more likely to be accepted.
Words like "Country", "China", "Guangdong", "International" and others, can not be in the name. Nor can the company name contain the word "Bank" or "Insurance" unless another license is applied for or other words misleading people to believe it has any relation with the Government.
Chinese, English and Arabic numbers can be included in the name but Chinese and English can not be used together.
For more details and free consultation regarding business registration services, Contact us.
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