Being a special economic zone since 2010, Kashgar is an important city in the province of Xianjiang and the connection to Europe and Middle East for international investors, as part of the Silk Road. The trading history of this city continues nowadays in a well-appreciated business manner, providing the needed support for local and foreign entrepreneurs who want to benefit from special business conditions among other things. If you would like to set up a company in Kashgar Special Economic Zone, we invite you to get in touch with our team of company formation specialists in China.
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The characteristics of Kashgar Special Economic Zone
With a population of over 3 million people, Kashgar is home to numerous entrepreneurs looking to develop their activities in the eastern part of China in well-developed sectors like agriculture, tourism, fishery, manufacturing and many more. Here are a few facts you need to know if you decide for business in Kashgar Special Economic Zone:
- The borders with Uzbekistan, Tajikistan and Pakistan sustain the business on the Silk Road and ease the collaboration with European countries.
- China-Pakistan Economic Corridor involves Kashgar as a terminus point.
- Garments represent approximately 65% of the exported products from Kashgar.
- Kashgar is a major import and export hub for fishery products.
Being a huge market for business persons from Central Asia and Europe, Kashgar aligns with the major business hubs all over the world and offers a multitude of possibilities in most of the sectors. If you want to know more about how you can open a company in Kashgar, feel free to get in touch with our team of company formation representatives in China.
How can I set up a company in Kashgar?
A WFOE or the wholly foreign-owned enterprise might represent the proper business structure an entrepreneur can choose in Kashgar Special Economic Zone. The support for opening a WFOE in Kashgar can be offered by our team of company incorporation agents in China. Here are a few aspects for which our consultants can provide support and assistance:
- The minimum share capital of EUR 30,000 is needed for opening a WFOE in China.
- The registration process of a WFOE starts with the Chinese Trade Register and the Articles of Association which need to be drafted.
- Once the board of managers and the representative agent are appointed, your WFOE (sometimes incorrectly WOFE) is ready for incorporation.
- Opening a bank account for establishing a WFOE is a mandatory condition.
- As a post-incorporation procedure, a WFOE needs to be registered as a taxpayer in Kashgar.
- For companies activating in the import and export sector, a license in this matter is needed.
Foreigners looking to establish the business presence in Kashgar Special Economic Zone are invited to talk to our team of specialists in company registration in China and ask for detailed information and support. Even though the incorporation procedure is not complex, it is though suggested to talk to a consultant in China and ask for assistance and information, in order to skip any misunderstandings.
Why open a company in China’s special economic zones?
The authorities decided for the special economic zones in China with the intention of sustaining in a large percent the amount of foreign investments through varied incentives and business schemes. The industrialization of special economic zones in China started way back in the ‘90s when foreign investments gained lots of terrain and many international players showed high interest in China’s manufacturing sector among other things. Considering the development of import and export sector for the past decades, there was a need for opening special economic zones and implement specific business regulations related to the taxation system and commercial environment. In the case of Kashgar, the growth of this special economic zone came naturally, sustained by a developed transportation system, innovative technology and many more.
If you would like to start the operations in Kashgar or if you are interested in opening a WFOE in China, a general partnership, a joint stock company or joint venture, we kindly recommend you give us a call and solicit complete information in this sense. Feel free to get in touch with us for a personalized offer and ask for our support.