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Frequently Asked Questions
Wholly Foreign Owned Enterprises (WFOE)
A Wholly Foreign Owned Enterprise (WFOE) is a Limited Liability Company established in China by foreign investor(s). A WFOE is very much like a LLC in the USA that it requires one member only.
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The registration procedures of a Wholly Foreign Owned Enterprise (WFOE) could be divided into 3 phases: aproval phase, registration phase and post-establishment phase.
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A Wholly Foreign Owned Enterprise (WFOE) could be terminated by way of liquidation or deregistration by its investor(s) or when the conditions of termination in its Articles of Association occurs.
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China Taxation
Under the current tax system in China, there are 25 types of taxes which could be divided into 8 categories. The major ones are Business Tax, Value Added Tax and Enterprise Income Tax. More
Representative Offices are also liable for Business Tax and Enterprise Income Tax. However, a RO could be exempted if its parent company is in the manufacturing business.
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Any individual who has domicile in China or who has no domicile in China but has resided in China for one year or more shall pay Individual Income Tax on his world-wide income.
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CHINA BUSINESS REGISTRATIONS
WHOLLY FOREIGN OWNED ENTERPRISES

WHOLLY FOREIGN OWNED ENTERPRISES

Foreign Invested Enterprises Registration Procedures

The registrations procedures listed below apply to all types of foreign invested enterprises, including Wholly Froeign Owned Enterprises (WFOEs), Sino-foreign Equity Joint Ventures (EJVs), Sino-foreign Contractual Joint Ventures (CJVs); some of the post registration procedures also apply to registration of Resident Representive Offices (ROs).

Registration of Foreign Invested Enterprises - Approval Phase
Registration of Foreign Invested Enterprises - Registration Phase
Registration of Foreign Invested Enterprises - Post-registration Phase
Termination of a Foreign Invested Enterprise

The Supervision and Administration Provisions on Foreign-Invested Enterprises

Operation and administration of FIEs after it is officially registration. That is, after the issuance of Business Registration Licence.

Customs Administration Foreign Exchange Administration
Bank Operations Tax Administration
Financial Administration Labor Management
Entry & Exit Quarantine Inspection Administration Entry/Exit Formalities
Insurance Services    

Incorporation of Wholly Owned Foreign Enterprises

Features of a Wholly Foreign Owned Enterprise, WFOE (normally in the form of Limited Liability Company and Company Limited by Shares), also known as Wholly Owned Foreign Enterprise, WOFE
Wholly Foreign Owned Enterprise and Resident Representative Office Compared
Detailed registration procedures of a Wholly Foreign Owned Enterprise
Major requirements for preparing a feasibility report
Wholly Foreign Owned Enterprsie Registered Capital Requirements
Various types of Certificates Obatined after a Company is Officially Registered in China

Maintenance of Wholly Foreign Owned Enterprises

Accounting and Tax Compliance Requirements for Wholly Foreign Owned Enterprises (WFOEs) in China
Registrations of Changes of a WFOE (Limited Liability Company)
Powers and Responsibilities of the Board of Directors of a Chinese Company (Company Limited by Shares and Limited Liability Company, two forms of Wholly Foreign Owned Enterprise, WFOE)

Powers and Responsibilities of the Board of Supervisors (Supervisory Board) of a Chinese Company (Company Limited by Shares and Limited Liability Company, two forms of Wholly Foreign Owned Enterprise, WFOE)

Powers and Responsibilities of the Legal Representative of a Company in China (Company Limited by Shares and Limited Liability Company, two forms of Wholly Foreign Owned Enterprise, WFOE)
Powers and Responsibilities of the Manager of a Company in China (Company Limited by Shares and Limited Liability Company, two forms of Wholly Foreign Owned Enterprise, WFOE)
Company Chops of a Chinese Enterprise (Organisation)

Deregistration of Wholly Foreign Owned Enterprises

Termination of a Foreign Invested Enterprise

Taxation of Wholly Foreign Owned Enterprises

Income Tax Preferential Policies for Foreign Invested enterprises
Value Added Tax (VAT) Preferential Policies for Foreign Invested enterprises
Foreign Investment Taxation
Overview of China Value Added Tax
Overview of China Business Tax
Overview of China Enterprise Income Tax

Other Issues

Employment Procedures - Signing of Labour Contract, Contract Authentication, Personal Files Management, Foreigners Working in China
Social Insurance - Social Insurance Responsibility, Reporting and Payment of Social Insurance, Social Insurance Premiums

 

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