Incorporating a company in China involves several steps:
1. Choose Company Type: Decide on the type of company you want to incorporate. Common options include:
- Wholly Foreign-Owned Enterprise (WFOE)
- Joint Venture (JV)
- Representative Office
- Foreign-Invested Partnership Enterprise (FIPE)
- Domestic Company (for local businesses)
2. Business Scope: Determine the business scope of your company, outlining the specific activities it will engage in.
3. Registered Capital: Determine the initial registered capital of your company. The amount required varies depending on the company type and location.
4. Company Name Reservation: Choose a unique Chinese name for your company and ensure it complies with China's naming regulations. The name should not be identical to any existing business entities and should not contain sensitive words.
5. Registered Office Address: Have a registered office address in China where official correspondence will be sent. This address must be a physical location and cannot be a P.O. Box.
6. Appointment of Legal Representative and Directors: Appoint a legal representative who will act on behalf of the company. For WFOEs and JVs, appoint directors and supervisors as required by law.
7. Articles of Association: Prepare the Articles of Association (AoA) outlining the company's internal management structure and regulations.
8. Apply for Approval and Registration: Submit the incorporation documents, including the AoA, to the local Administration for Industry and Commerce (AIC) or other relevant authorities for approval and registration.
9. Obtain Business License: Once the application is approved, obtain the business license from the AIC.
10. Tax Registration: Register the company for taxation with the local tax authorities.
11. Foreign Exchange Registration: Complete the foreign exchange registration with the State Administration of Foreign Exchange (SAFE) if applicable.
12. Chop (Seal) Carving: Have the company's official chop (seal) made, which is required for conducting many official transactions in China.
13. Open Bank Account: Open a corporate bank account with a Chinese bank to handle financial transactions.
14. Post-Incorporation Compliance: Fulfill any post-incorporation compliance requirements, such as obtaining additional licenses or permits specific to your industry.
15. Ongoing Compliance: Maintain ongoing compliance with Chinese laws and regulations, including annual reporting, tax filings, and labor laws.
Contact DLBC Business Consultancy Pte. Ltd. for assistance and arrangements.
