How do I start a business in Guangzhou?
The procedure for registration of commercial organizations in Guangzhou:
- filing a package of constituent documents;
- approval of the name in the Chinese Trade and Industry Administration;
- a company registration with the Ministry of Commerce of China;
- stamp and seal making;
Can a foreigner start a business 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.
How much does it cost to start a business in China?
|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.
How do I open a branch office in China?
PRC law requires a formal registration procedure for opening a branch office. It usually takes at least two months to set up a branch office. And, if the company needs an increased capital for setting up the BO, the added time for the sub-sequential registration process should be taken into account.
What is the most profitable business in China?
The 10 most profitable companies on the list are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Tencent, Alibaba, Ping An Insurance, China Mobile, China Merchants Bank and Bank of Communications, with total net profits reaching 1.74 trillion yuan.
How can I open a store in China?
- Background – Foreign Investment in China.
- Step One: Pick a Business Location.
- Step Two: Consider a Global Expansion Partner.
- Step Three: Use a Recruitment Agency to Hire Chinese Staff.
- Step Four: Choose a Legal Structure.
- Step Five: Create Your Business Plan.
- Step Six: Open a Bank Account.
How can I open a shop in China?
Process for company setup in China
- Apply for name approval and registration.
- Rent office space as necessary.
- Online registration via MOFCOM.
- Apply for a “5 in 1” business license from the local Administration of Industry and Commerce (AIC)
- Carving chops for the new company.
- Opening bank accounts.
- Register under tax authority.
How can I open a factory in China?
How to Set Up Manufacturing in China
- Sign an NDA (Non-Disclosure Agreement)
- After the NDA is signed, give a complete and accurate scope of the project to the sourcing agency including goals, deadlines, milestones, and final products.
- Stay interested and in constant communication.
- Be prepared to pay some costs up front.
What are the risks of doing business in China?
Top 10 challenges of doing business in China
- Market access. Local distribution networks, buying habits of local consumers and regulatory requirements can make China a very difficult market to access.
- Consumer preference.
- Governmental challenges.
- Intellectual property.
- Human resources.
How do I start a subsidiary in China?
WFOEs are the most popular business structure for US companies looking to establish a Chinese subsidiary. To set up a WFOE, you’ll need to prepare all legal documents — including articles of incorporation, audit reports, and letters of authorization — open bank accounts in China, and find a legal representative.
How do I open a branch office?
Top 10 Tips for Opening a Branch Office
- Don’t throw good money after bad.
- Prepare your exit strategy in advance.
- Be willing to pay more for rent in return for the flexibility in breaking your lease early.
- Branch office overhead employees need to be at least 50% chargeable to projects.