Malaysia Hotline: +603- 2141 8908
About WFOE
The
Wholly Foreign Owned Enterprise (WFOE or WOFE) is a Limited liability company
wholly owned by the foreign investor(s). In China, WFOEs were originally
conceived for encouraged manufacturing activities that were either export
orientated or introduced advanced technology. However, after China's entried
into the WTO, these conditions were gradually abolished and the WFOE is
increasingly being used for service providers such as a variety of consulting
and management services, software development and trading as well. With that,
any enterprise in China which is 100% owned by a foreign company or companies
can be called as WFOE.
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.
·
newInvestor'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.
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