If you want to invest in China, you don't have to go to relevant government departments for so many certificates and formalities.
WFOE stands for wholly foreign owned enterprise, which is a limited liability company wholly owned by either a foreign legal entity or a foreign natural person. The foreign investors may be foreign enterprises or individuals from Hong Kong, Macau, Taiwan or overseas.
In China, only Chinese company names are officially used, while English company names are for reference only.
Share Structure, directors, monitor and legal representative should be considered and arranged before the business setup.
A shareholder could be a legal person (foreign company) or a natural person (individual). A director could be acted by a foreign person or a Chinese person.
A monitor should be appointed to supervise the company's operation and management. A monitor could be acted by a foreign person or a Chinese person.
A legal representative is a person in charge of corporate operation, management and development, responsible for all the legal affairs arising from the running of the business. The position could also be held by non-shareholder or non-director.
The WFOE can conduct business within its approved business activities described on the business license. We will help you for more business activities during the application. Amending the business scope requires further application and approval. Generally speaking, different business activities are confined according to different business sectors.
In China, the registered capital could be as low as RMB 30,000 yuan. Different business sectors are subject to different requirements. In China, the registered capital is equal to the paid-up capital. For the trading enterprise, the registered capital is usually required RMB 1 million or above. For the manufacturing enterprise, the registered capital is usually required RMB 1 million or above. For the service sector, such as consultancy, technology, market research and development, the registered capital is usually required RMB 800, 000 or above. All of the registered capital can be paid in one time (within 3 months after the date of the issuance of the Company's business license) or be paid for many times within two years (In the first 3 months, 20% of the registered capital is mandatory). The terms of payment is determined by the volume of registered capital. If the registered capital is paid in one time, the fee of paid-up capital verification can be reduced.