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What are the steps to register a company in China?

1. Choose Business Structure and Type: Decide on the type of entity (WFOE, JV, RO, etc.) for your business; trading, consulting, F&B etc

2. Name Approval: Select a unique company name (Chinese charactors) and submit to the Commerce Bureau for confirmation.

3. Prepare Required Documents: Articles of Association, shareholder resolution, passports, lease agreement, certified authoriation, etc.

4. Submit Application: Submit application and documents to local Commerce Bureau for review and approval.

5. Registration Approval: Upon approval, receive the Business License.

6. Bank Account: Open a corporate bank account with designated Chinese bank.

7. Tax Registration: Register with local Tax Bureau and opt for tax category.

8. Capital Injection: After July 1, 2024, Its required deposit registerd capital into your Chinese bank account and obtain a capital verification report.

9. Post-Registration: Fulfill any additional requirements and obtain necessary permits.

What is the minimum registered capital required to establish a company in China?

The required registered capital varies depending on the business structure and industry. It can range from as low as 1 RMB for certain types of businesses to higher amounts for others as mandatorized by certian industry.

How long does it take to register a company in China?

The registration process typically takes around 1 month to complete. 8 working days to obtain the business license, 2 days bank open, 1 day tax registration.

Can foreign individuals or companies own 100% of a company in China?

Yes, foreign individuals or companies can fully own certain types of companies, such as WFOEs. However, restrictions may apply in certain industries, and some sectors may require a Chinese partner for a Joint Venture.

What are the ongoing compliance requirements after company registration?

After registration, companies in China must fulfill various compliance obligations, including tax filing, annual reporting, renewal of licenses, and compliance with labor laws and regulations.