Choose your company between: Tailor-made or Ready-made Company
Think of your desire company name. (Specialists of Intercorp will check for the availability);
Decide where you want to incorporate a WOFE (which city, provinces);
Plan and structure your company, i.e. office address, directors, shareholders, and shares capital. (Specialists of INTERCORP may provide you the planning and structural advice).
Step 2 – Incorporation
Specialists of Intercorp will advise you the required documents and information for Chinese Company set up.
Contact Intercorp! Specialists of Intercorp will advise you the required documents and information, and lead you to provide such documents step by step. (Please be caution that setting up a WOFE requires a substantial amount of documents);
WOFE will usually take 3 months to 18 months to set up.
Step 3 – Post-incorporation
Let us take away your worries!
Obtain different kinds of business licenses. For example, general business licenses, state and local tax registration, foreign exchange registration, import/export license, organization code, etc;
Open Bank Account (Specialists of Intercorp will advise further information on the procedures on opening an account in Chinese bank).
China has the fastest GDP growing rate;
China is the largest manufacturing country;
WOFE is a separate legal entity with limited liability which can be 100% owned by a foreign national.
Pros & Cons of setting up a Chinese company
Expensive process, takes a long time (3 months to over 1 year);
Requires a large amount of different documents;
Requires a high minimum paid up capital (depends on the nature of business – usually RMB 0.5 million);
Doing business in PRC requires to obtain different types of license;
Government policies in different industries change rapidly.