Fuzhou is the capital of Fujian province found on the northern part of Min River, the largest in the county. There are more than 7 million residents living in Fuzhou and the province was ranked as the 10th fastest growing metropolitan area in the world in 2015. The business climate is appealing to foreign investors who want to establish their operations in this part of China, as they have complete support in matters of company registration, investment incentives, etc. If you are interested in opening a company in Fuzhou Coastal Development Area, you may get in touch with our team of company formation specialists in China and find out more details in matters of incorporation.
Table of Contents
Short facts about Fuzhou Coastal Development Area
Gulou, Cangshan, Mawei, Changle, Jin’an and Taijiang are 6 important districts in Fuzhou, alongside 6 large counties like Pingtan, Minhou, Luoyuan, Lianjiang, Yongtai and Minqing, plus the satellite city of Fuqing. Here are some facts and figures about the economy and the business direction of Fuzhou Coastal Development Area:
- RMB 785, 680 represent the province’s GDP registered in 2018.
- 8,7% rate represents the economical growth of the city in the previous year.
- Fuzhou is an important city seaport which opened the doors for business and trade in 1867.
- There are more than 200 foreign projects approved on a yearly basis by the authorities in Fuzhou.
A WFOE in China is the most popular business structure a foreigner can choose, whether in Fuzhou or in any coastal development area. The registration of a wholly foreign owned enterprise in China is not complicated, however, it is best to talk to one of our company incorporation agents in China and ask for immediate support and assistance.
How many economic and technological zones are established in Fuzhou?
There are six economic and technological development zones in Fuzhou, with the following characteristics:
- Fuzhou Economic & Technological Development Zone was established in 1985 and it is home to companies activating in the manufacturing sector, trading and distribution, shipping and warehousing, electronics assembly.
- Fuzhou Export Processing Zone opened its doors in 2005 and hosts companies with trading and processing activities that enjoy all kinds of tax benefits.
- Fuzhou Free Trade Zone encourages activities like trading, distribution, heavy industry, assembly and manufacturing, industrial equipment production.
- Fuzhou Hi-Tech Industrial Development Zone is the leading electronics industrial zone with establishments since 1999.
- Fuzhou Science and Technology Park hosts industries like biotechnology, electronics, and related sectors.
- Fuzhou Taiwan Merchant Investment Area is the commercial district related to the development of Taiwan where the main industries are food processing, IT, textiles, metallurgy.
If you are interested in opening a company in the above-mentioned special zones part of the coastal development area in Fuzhou, you are invited to talk to one of our company formation agents in China and solicit information.
How can I set up a WFOE in Fuzhou?
Foreign investors who choose Fuzhou Coastal Development Area for company formation can decide on WFOE in China and prepare the Articles of Association, verify and reserve a business name, create a feasibility report, appoint the board of managers, apply for special licenses and permits and register for tax purposes in China. Once your WFOE is registered in Fuzhou (sometimes incorrectly spelled WOFE), the incorporation certificate is issued, and the company is ready for business. Special zones in Fuzhou Coastal Development Area might be subject to different tax policies and incentives, so WFOEs can be established without having to deposit the minimum share capital. In terms of costs of WFOEs in China, one must bear in mind the registration fee of RMB 10,000, the company formation costs, the accounting costs and the minimum share capital if applicable. Some investors from abroad might be interested in ready-made companies which are already registered and kept on a shelf until someone buys them. Also, a virtual office package can be the ideal business start for small and medium-sized entrepreneurs in China instead of a traditional office, considering the minimal costs involved.
In any case, if you want to set up a company in Fuzhou Coastal Development Area and wish to start your activities in the special economic zones in China, do not hesitate to contact our team of company formation specialists in China and find out more about the support we can offer.