How to set up a company in China and how to solve problems encountered when setting up company in China? Here this article are FAQs on Chinese company registration.
Yaxin Ltd. is a China based International Business Consulting Company, helping foreign investors establishing their business presences in China. Yaxin provides the full spectrum of international business consulting services for clients interested in starting their business in China and assist companies interested in China market to establishing and structuring their entities in China. Here the following are some frequently asked questions on company registration for foreigners who set up business in China.
Q: In what forms is Foreign Investment Enterprise incorporated?
Answer: In the form of Wholly Foreign-owned Enterprise, Sino-Foreign Equity Joint Venture, or Sino-Foreign Co-operative Joint Venture.
What are the requirements for the time limit of capital subscription of Foreign Investment Enterprise?
Answer: According to the following two ways:
The capital to be subscribed in lump sum as contemplated in the Articles of Association shall be paid up within six months from the date of issue of Business License.
The capital to be subscribed by installment as contemplated in the Articles of Association shall be paid up within three months from the date of issue of Business License, with the first installment not to be less than 20% of the amount of capital subscription.
Q:In what forms is Foreign Investment Enterprise subscribing capital?
Answer: In the form of cash, or property, plant, machinery equipment or other materials, industrial property right, know-how, right to the use of a site and others.
Q: How to change the company's name if the company registered in Hong Kong?
Answer: The first step: please select the company's name you want to change to. Please note that the name you have selected can not be registered if the name has been registered by Companies Registry. So please provide the name to us firstly, Yaxin can help you to check whether the new name is available or not for free.
The second step: before you decide to change the company's name, you need to pass the Special Resolutions.
Q: What documents can be obtained after you changed the company's name?
Answer: You can get the following documents: registration certificate, business registration certificate and the seal of the corporation.
Q: How long does it take to change the company's name?
Answer: Generally speaking, the registration certificate for changing company's name can be delivered within eight working days.
Q: When it will take effect after changing the company's name?
Answer: It will take effect immediately on the date that the registration certificate for changing company's name delivered.
Q: Does the import/export right of Foreign Investment Enterprise need separate application?
Answer: No, it needs only filing and registration with relevant authority before conducting import/export business.
Q: What process should be involved in Foreign Investment Enterprise Incorporation generally?
Answer: Subject to following sequence in application for Foreign Investment Enterprise Incorporation (if fire protection, health, environmental protection and other pre-approval and examination conditions are involved, these certificates should be obtained first):
Approval of local Department of Foreign Trade & Economic Cooperation;
Application for Business License to Administration for Industry and Commerce;
Ordering Official Company Seal with Public Security Bureau;
Processing Certificate of Institutional Code;
Opening bank account;
Processing National or Local Tax Registration Certificate;
Financial Registration Certificate.
Foreign Exchange Registration Certificate.
Customs Registration Certificate.
Processing recruiting formality and expatriating employment formality.
Processing recruiting formality and expatriating employment formality.
Answer: Requirements are as follows:
It has a name that meets the specification.
Its business office is other than its head office.
It has fixed business office or meets the condition for production and operation.
It has corresponding governing body and principal.
The scope of business of branch company shall not exceed that of parent company.
Establishment of branch company of Foreign Investment Enterprise shall be subject to approval of relevant department.
The capital in cash of parent company shall be duly prepared in full for branch company establishment, if the Wholly Foreign-owned Enterprise has sole shareholder.
Contact Us
If you have further inquiries on company registration in China, please do not hesitate to contact Yaxin at anytime, or calling Yaxin hotline at 010-5747 3212, or emailing to jack@86startup.com., we will provide you more detail information or suggestions on company registration in China.
