Quanzhou WFOE Registration

Update Date:2015-10-1 11:55:52 Source:Tannet (Malaysia) Sdn Bhd Views:365

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Quanzhou WFOE Registration - Overview of Quanzhou

Quanzhou is the famous hometown of overseas Chinese, and is also the ancient "Silk Road on the Sea" starting point. Since reform, Quanzhou strives to make good use of the national and provincial conferred t policies and flexible measures, as a result, a market-regulated, export-oriented economy, the development of a variety of economic sectors, comprehensive economic strength has markedly increased. Now, with China's accession to the WTO, more and more foreign companies are interested to invest in Quanzhou.

Quanzhou WFOE Registration - The Concept of Wholly Foreign-Owned

Wholly foreign-owned enterprises (including Hong Kong, Macao and Taiwan investors), according to the "People's Republic of China Foreign Enterprise Law" and other relevant laws, is the establishment of investment in the Chinese territory. Foreign investor in this case refers to the foreign enterprises and individuals or partners (including Hong Kong, Macao and Taiwan).

Quanzhou WFOE Registration - The Definition of Investment

To standardize the management of foreign enterprises to invest in China, the Chinese Administration of Foreign Exchange defines as foreign enterprises as overseas enterprises (foreign enterprises including Hong Kong, Macao and Taiwan enterprises) and states that the enterprise's equity must be held by offshore entities( including Hong Kong, Macao, Taiwan). But some areas might have different standards.

Quanzhou WFOE Registration - Company Name

The company name ends with “Limited”, the company name generally should be composed of the following parts: "Quanzhou (city) + Text (traders) + industry (or industry characteristics) + Ltd.";

Quanzhou WFOE Registration - The Registered Capital and Paid-Up Capital

In China, registered capital for different business nature and industries are different. The registered capital requirements allowable to a certain time frame, must be put in place. Recommendations of registered capital are as follows: consultancy type: 100,000; trade-registered capital: 500,000;production type: 1 million. The paid up capital must be injected (at least 15%) three months after completion of incorporation of company, the remaining can be injected in two years’ time.

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