Malaysia Hotline: +603- 2141 8908
Shanghai
WFOE Register Instruction, means the instruction for Shanghai WFOE Registery.
Characteristics
of a WFOE
Wholly
Foreign Owned Enterprise (WFOE), also known as Wholly Owned Foreign Enterprise
(WOFE), is a limited liability company, the establishment of which is governed
both by the Company Law of PRC and Law of the PRC on Enterprises Operating
Exclusively with Foreign Capital.
A WFOE
can engage itself in approved business activities and issue tax invoices on its
own. It is a corporation and a tax resident. All shareholders of WFOE should
not be Chinese nationals.
Advantages
of WFOE
-Independence
and freedom to implement the worldwide strategies of its parent company without
having to consider the involvement of the Chinese partner;
-Ability
to formally carry out business rather than just function as a representative
office and being able to issue invoices to customers in RMB and receive
revenues in RMB;
-Capability
of converting RMB profits to US dollars for remittance to its parent company
outside of China;
-Protection
of intellectual know-how and technology;
-Full
control of human resources;
-Greater
efficiency in operations, management and future development.
New
Investor’s parent company does not have to be established for more than 2 years
while for Representative Office, it's parent company is required to have been
established for more than 2 years.
Name
of a WFOE
The name
of the WFOE is governed by “Regulations on the Management of name of
Enterprises”. Since WFOE is a limited liability company, its name should be in
the form of “Name of City + Name of the Enterprise +Industry+ Company Limited
“. Accordingly, a company registered in Shanghai will normally bear a name
like: USCorp Software Development (Shanghai) Limited.
Shanghai
WFOE Company registration Time
All the
documents are ready, service enterprise: 40-50 working days
All the
documents are ready, trading enterprise: 60-90 working days
All the
documents are ready, manufacturing enterprise: 60-90 working days after getting
pre-approvals.
Shanghai
registered foreign companies registration process
Power of
Attorney - advance payment - check names (Commerce and Industry Bureau) -
articles of association, the feasibility study report - investment approval and
approval certificate (ECA) - business license (Commerce and Industry Bureau) -
Registration and production of seals, financial seal, legal representative,
signet - organization code certificate (technical supervision) - tax
Registration Certificate (IRD) - Foreign Exchange Registration Certificate
(SAFE) - statistics registration (Statistics Bureau) - Finance registration
Certificate (Finance Bureau)
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my