China
Capital: Beijing.
Official languages: Chinese.
Currency: Yuan.
Advantages of Company Registration:
- Simplified opportunity for localization to enter multiple Asian markets.
- Good transportation, logistics, and IT infrastructure in China.
- Investor rights protection in China.
China is a country in Asia, the world's most populous state, located in the eastern part of the Eurasian continent. China's territory covers 9.6 million square kilometers, making it the largest country in Asia. It ranks third in the world by land area, surpassed only by Russia and Canada.
Registering a mainland Chinese company gives foreign investors a unique opportunity to enter this promising market.
Taxation and Reporting Features
For companies fully owned and managed by foreign investors (WFOE), reporting must be submitted every month starting from the month of company registration. Companies submit statistical reporting once or twice a year.
- Corporate income tax is 25%, with tax incentives for small and high-tech businesses.
- VAT is 13%, with a reduced rate of 9% for specific industries.
- Withholding tax for foreign companies and citizens ranges from 3% to 20% on various types of income from China.
- Social insurance contributions are approximately 20% of employees' salaries.
Company Registration
Registration period: 7 days.
Registering a business in China for foreign investors is possible in the form of a Wholly Foreign-Owned Enterprise (WFOE). A visit by the director and shareholder to China is required for the WFOE registration. The shareholder's passport needs legalization at the Chinese consulate for remote company registration.
Additional services: The director's presence is required to open a bank account, and the process takes about five days.
For remote company registration, you will need to provide the following documents:
- Memorandum of Association and Articles of Association.
- Notice of the approved company name.
- Documents about the company's shareholders and directors.
- Registration of the legal address proof.
- Company secretary registration form.
How to Quickly Register a Company in China
To quickly register a WFOE in China, contact the specialists at IT-OFFSHORE. Our services include:
- Document preparation (collection, completion, notarization, etc.).
- Company registration.
- Payment of all government fees.
- Registration agent services for one year with the option of extension.
- Translation services.
- Delivery of registration documents to any address.
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Conclusion
Registering a company in China is a legal process and a strategic step towards successful business operations. Understanding all aspects and consistently complying with requirements will allow entrepreneurs to enjoy the benefits of the Chinese business sector. We recommend consulting with lawyers at IT-OFFSHORE to avoid potential legal consequences and ensure compliance with the laws.
Our team offers comprehensive support for your company at all stages – from registration to full backing for its activities. We not only help legally
