Ready-made company and account in China: advantages
Because of the language barrier, different mentality, and the complexity of government regulation, foreigners decide not to buy a business in mainland China. Nevertheless, the market is interesting in many ways, and if you understand it, you can make a considerable profit. Today we're going to talk about why it's profitable to buy a ready-made company in China 2022.
Favorable government policies
The Chinese government is actively implementing measures to support both local and international entrepreneurs. Among them are assistance to young businesspeople, support for creativity and innovation, and subsidies for businesses. Thanks to government support, manufacturing and transport industries are flourishing, and foreign companies can easily and affordably get enough goods for their stores or production.
Access to the Chinese market
Many foreign companies successfully trade in China. They have to go through a lot of bureaucratic procedures to do so, but buying a ready-made company shortens this path by many times.
China's interior regions offer lower rates to foreign companies than the coastal regions. This is how the government encourages investors to open businesses in rural areas, providing new jobs.
The tariff policy on imported goods that a company imports is also favorable. Automobile shipping is well established, so it is very convenient to deal with exports and imports.
The stable social, political, and economic situations have allowed China to become one of the strongest countries in the world. The Chinese market is predictable: it allows you to make correct forecasts, develop a strategy, and reduce the risk of bankruptcy. Therefore, hyperinflation and other situations that paralyze business have not been heard of China for a long time.
Local bank account
If you buy a business, you can immediately open an account in China and conduct online transactions. This is very useful because Chinese online commerce is having a serious boom and allows you to make a lot of money.
Low production costs
One of the reasons for the popularity of the Chinese market is the cheap labor and manufacturing, which allows you to make money by lowering the prices of your products. The amount of the final discount depends on the product, but in some cases, can reach 80%.
Opportunity to hire local employees
China can boast skilled employees who speak excellent English and are well versed in the IT field. At the same time, the Chinese are very diligent people who treat their work responsibly. Therefore businesspeople can be sure of the quality of their products. The rest depends on businesspeople themselves the quality of the materials they will use in their work.
Obtaining an investment visa
If you decide to stay and work in China for a long time, you can get an investment (business) visa. It gives the right to stay in the country while the foreigner is doing business here. People who get it can use various innovations and interesting offers from the government in their work.
Ease of doing IT business
It's easier to do e-commerce and digital health businesses in China than in many countries around the world. Minimal regulation gives entrepreneurs the flexibility to experiment with different ideas.
The company can use fapiao receipts in its operations, which officially confirm the purchase. This makes the company trustworthy and legitimate in the eyes of customers and government agencies.