Our company, Tannet Group Limited, can help you set up a company in China as soon as possible. We have provided business services since 1999 and proudly offered extensive support and certified advice to more than 60,000 clients from approximately 130 countries worldwide.
| Quick Facts | |
|---|---|
| Types of companies | – limited liability company, – partnership enterprise, – joint venture, – private enterprise |
Number of shareholders | At least 1 |
| Time frame for company formation in China | Around 5-8 working days |
| We provide support for tax registration (YES/NO) | Yes |
| We handle company formation in the following cities: | – Beijing, – Shanghai, – Shenzhen, – Guangzhou, – Yiwu |
| Do you supply a registered address? (YES/NO) | Yes |
| Company registration fees | Our consultants charge $1,000 – $1,200 for the registration of Chinese legal entities. |
| How long does it take to open a bank account? | Around 1-2 business days. |
| Our main company formation services | – reserving a trade name, – registering a legal entity, – registering the company’s Ultimate Beneficial Owners, – translation services for corporate documents, – opening a bank account, – obtaining licenses, etc. |
| Required documentation for company registration | – the company name, – the company type, – the business activities, – the registered address, – the registered capital |
| Bank account setup fees | Our team will charge clients a fee of $200 to $650 for legal representation in opening a bank account. |
| Do you offer visa services? (yes/no) | Yes |
| Visa services fee | It varies from $500 to $1000, depending on the type (family visa, work visa). |
| Are there any costs for company name registration? | Yes ($100) |
What are the mandatory requirements for opening a company in China?
In order to incorporate a legal entity in China, both local and foreign businessmen must comply with specific requirements, imposed by the applicable law. In order to set up a business, it is necessary to present the following:
- the company’s trading name;
- the registered capital;
- the registered address;
- the purpose for which the company is incorporated and the industry in which it will activate;
- the investors’ identification documents (the passport).
What are the costs associated with starting a company in China?
Some of the registration costs are:
- minimum USD 1,200 for the incorporation of a WOFE in China (wholly owned foreign enterprise), of a representative office or a joint venture;
- investors who want to register the WOFE in the Guangzhou region benefit from a lower registration fee, of USD 1,000;
- opening a bank account can cost USD 200 to USD 650;
- the translation of documents for the purpose of company registration costs USD 800;
- opening a company account for social insurance purposes costs around USD 150;
- tax registration costs USD 150-250.
Do you I need a special business permit in order to activate in China?
Most likely yes, however most of these permits/licenses are obtained after the company formation. Read more here.
Are there any fees for the issuance of licenses and permits in China?
Yes, the issuance of any type of authorization falls under the supervision of the state authorities, which, in order to process the applications, usually require the payment of a processing fee. For instance, for one of the industries that impose having a valid license in order to operate a business, the import-export sector, the fee is USD 400-450 for each application.
Below is an infographic with some of the reasons to start a business in China:
What are some of the recurring fees a newly-formed company may pay in China?
Provided that a company does not complete its accounting/tax formalities in-house, it will have to address to a team of local specialists (such as our consultants). In this case, the outsourcing company will charge fees for services related to:
- accounting and submission of tax reports;
- VAT refunds;
- completing and submitting annual financial statements;
- audits;
- payroll services, etc.
How quickly can I incorporate in China?
In general, investors can open a company in Chinain around 8 to 10 business days, provided that the documentation is compliant with the legal requirements and there aren’t any delays in the governmental processing of the application.
Can foreigners set up branches in China?
Yes, they can set up branches in China in complete agreement with the Companies Act and the Commercial Code. One should know that the documents of the parent company are necessary when establishing a branch in China.
If you are interested in setting up a company in China, we kindly invite you to contact us at any time.