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WFOE formation and registration in China (Shanghai) Pilot Free Trade Zone [Shanghai FTZ]

 

“We usually took 3 or 4 hours when the first meeting with our clients for WFOE formation affairs before FTZ launched by Authority, then many inquiry mails again. But now just 10 minutes, our clients knew how to do.”--Said by Mr.Lu, a counselor for WFOE registration in China. Raymond Lu said jokingly:” It makes me lost, I seem not professional longer because of the simple process”.


OK, now Mr.Lu will tell us what happened for WFOE formation and how to set up a WFOE in Shanghai FTZ.

 

  
Difference
Out of FTZ
In FTZ
Comments
Documents required Certificate of Incorporation (CI ) with notarization and China embassy legalization
 
Bank reference letter
 
Passport of the directors and supervisor of WFOE
 
Leasing agreement of WFOE legal address

Usually agency will provide it.

Articles of Association
 
Appointment letter for the director and supervisor
 
Products list
 
Annual auditing report of investor
 
Passport of legal representative of investor
 
feasibility study report
 
Examined and approved by Authority YES No, where the company’s business is out of the Negative List. Authority will update and shorten the Negative List each year. This is a newest Negative List.
Registered capital 15% contribution in first three months and the remaining in two years. Investors decide the contribution time by self. It means investors need not to contribute registered capital, like a HK company.

1, the registered capital is a channel still to transfer overseas funds to China as investment.

2, the investors shall bear the limited liability under the registered capital.
Formation time Two months Two weeks  
Business Many businesses are limited. The business which is in Negative List is limited. They are allowed if it is out of Negative List, such as advertisement business, building design, exhibition, APP Store, construction engineering and others.
Finance and banking Foreign exchange was superintended by SAFE when the international business is operating. Foreign exchange was superintended by SAFE when the international business is operating.  

 

Author: Shanghai CorpStart Business Consulting Co., Ltd.
All copyrights reserved. The contents of this report may not be reproduced or used without express permission.
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Tel ： 0086 21 64267899
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If you will set up a company in China or Shanghai Free Trade Zone, please don't hesitate to contact us. We provide the company registration services and help you to set up the company.