Can a foreigner set up a company in China?

Can a foreigner set up a company in China?

China allows foreign entrepreneurs to set up a wholly owned limited liability company, also known as a Wholly Foreign Owned Enterprise (WFOE). However, companies can engage only in “encouraged” fields of business activity and not those which are “restricted” or “prohibited”.

How can I start a business in Guangzhou?

The procedure for registration of commercial organizations in Guangzhou:

1. filing a package of constituent documents;
2. approval of the name in the Chinese Trade and Industry Administration;
3. a company registration with the Ministry of Commerce of China;
4. stamp and seal making;

How much does it cost to register a company in China?

Fees

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

Can you own your own business in China?

In China, it is possible to start a business in an easier and low-risk way. Companies can use a PEO (Professional Employer Organization). A PEO is a company that provides services under which an employer can delegate employee management tasks such as payroll, employee benefits, and workers’ compensation.

How much does it cost to set up a WFOE in China?

Setting up a WFOE in China could cost you up to $100,000 if you hire an international law company to assist you, but there are more affordable options through local consultants.

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.

How can I open a company?

Four major steps to register a company/ startup in India:

1. Step 1: Acquire Digital Signature Certificate (DSC)
2. Step 2: Acquire Director Identification Number (DIN)
3. Step 3: Create an account on MCA portal- New user registration @ mca.gov.in.
4. Step 4: Incorporate or Apply for the company to be registered.

How long does it take to set up a company in China?

The process of registering a business Setting up a business in China overall generally takes three to six months and involves various government authorities and procedures that may differ depending on the industry your business is in and the structure you have chosen.

Is 15000 RMB a good salary in China?

For most entry-level ESL teachers, an average salary is around 10,000 RMB to 15,000 RMB per month ($1500 ~ $2180), usually with your accommodation allowances provided on top of that. You might be surprised that with this amount of salary, you can afford not only a comfortable lifestyle, but also save a decent amount!

Is it easy to get a job in China as a foreigner?

For expats, however, they are usually not a common choice. In general, there are very little benefits for self-employed in the country. Getting self-employment in China for a foreigner can be extremely challenging as without a work contract there are no visa options for them.

How to set up a company in China as a foreigner?

Registration with the Customs Office; Registration with SAFE (State Administration of Foreign Exchange); Hire an accountant (the accounting books are mandatory in China); Any other request or necessary approval, which can vary according to the type of WFOE and/or the city where you opened the company.

What’s the best way to do business in China?

Rent you an office for your employees or a warehouse for your products. In pratice, if for you it’s important to do business in China in a simple and inexpensive way, using an umbrella company is surely the best option, at least to begin with.

Do you need a company to work in China?

To be brief, if you intend to hire a large number of workers in China (let’s say more than five), receive payments in China without paying commission to an intermediate company, open a factory (or even a firm that requires specific structures), then opening a company in China is absolutely necessary.

What makes a company a foreign owned enterprise?

Every company that is controlled by a quota equal or superior to 25% by foreigners is considered a FIE (Foreign Invested Enterprise). The most common FIE is the WFOE (Wholly Foreign Owned Entity), that is, as the name suggests, a legal entity completely owned by foreigners.