CHINA

China consistently ranks as the sixth largest economy. fastest-growing major economy with growth rates averaging 10% over 30 years. Due to historical and political facts of China's developing economy, China's public-sector accounts for a bigger share of the national economy than the burgeoning private sector. In recent years, it has become a vast territory and well-developed manufacturing industry. China has opened finance, service and trade industries, and significantly eased out the investment entry requirements of foreign enterprises in order to attract more foreign investments. China is now top of the list of countries for whoever wants to expand and invest internationally.

Online trading platforms, business services, education and import and export are the growing along with the traditional business. Often called the "World's Factory," China is the world's largest manufacturing economy and exporter of goods. The International Monetary Fund (IMF) included the Chinese Yuan in its basket of reserve currencies. The Yuan is getting more and more popular abroad China. In Russia, the Chinese currency is high-in-demand from companies as well as ordinary customers.

 

Wholly foreign owned enterprises (WFOE) are often used to produce the foreign firm’s product in Mainland China for later export to a foreign country

IMPORTANT FEATURES (WFOE):

  • Company can uphold its global strategy free from interference, maintain total management control within the limitations of PRC laws.

  • Receive and dispatch RMB to the parent company overseas.

  • Increased protection of trademarks and intellectual property.

  • Shareholder liability is limited to the original investment.

  •  ‘The Registered Capital’ is required to cover the company costs for the first one to two years 

  • It is not required that any director be a Chinese national or a resident of China.

  • There are mainly three types of WFOE available for establishment:

    • Service / Consulting

    • Trading

    • Manufacturing

  • China provides numerous preferential treatments in foreign taxation, and has successively concluded tax treaties with 60 countries

  • Corporate income tax ("CIT") - standard tax rate is 25%,

  • The nonresident companies are taxed on their Chinese incomes.

  • Official China company names are always in Chinese, but we can have English names too.

REQUIREMENTS:

Corporate Structure requirements in Hong Kong, please click here.

COST:

Please click here for the fees structure related to Hong Kong Incorporated Companies.