Jewelry businesses in China enjoy huge success and are subject to large profits each year. More than that, Chinese jewelry companies are appreciated cross borders by customers all over the world, making investors seriously think of this kind of business. If you would like to open a jewelry company in China, we recommend you to talk to one of our company formation agents in China for all the formalities involved.
Table of Contents
Activities of jewelry companies in China
The luxury sector in China is extremely prosperous and even so, the business entrance is clear for all kind of investors who want to test a new market for them and generate large profits. A jewelry company in China can be established in varied ways:
- A business that manufactures jewelry and deals with the production line.
- A business that sells jewelry inside and outside the country.
- A business that imports and exports luxury jewelry.
- A business that supplies raw material for jewelry manufacturers.
Once the activities are established, the next thing to do is to choose the proper business structure, and in this case, the Chinese WFOE can be the proper option. The formalities involved in the company formation process in China can be explained by one of our consultants, whether you are an investor from abroad or from China.
How can I establish a WFOE in China?
The WFOE is the Wholly Foreign Owned Enterprise which is dedicated to international investors in China. Complete control in the firm is one of the huge benefits of such structure, however, the following steps should be respected for opening a WFOE in China:
- The Articles of Association with complete information about the company need to be submitted to the Chinese Trade Register.
- CNY 30,000, the minimum share capital must be deposited in a local bank account in China.
- The registration for tax purposes and specific social contributions is mandatory in China.
- One must comply with the requirements for obtaining the necessary licenses and permits for a jewelry business.
A jewelry company can be promoted in China and outside the country, and the best thing to consider is to have a marketing plan right from the beginning. In matters of company formation in China, our team of consultants will give immediate assistance and support, no matter if you are a domestic or foreign investor.
Other requirements for jewelry companies in China
In the case of import and export companies in the jewelry sector in China, the main materials they can trade involve silver, platinum, gold, diamonds, silver alloys, gemstones, pearls, precious and semi-precious stones. The jewelry made of these precious materials and meant for import and export sales should be accompanied by specific certificates of authenticity with the name of the producer and details about the quality of the products. As for jewelry suppliers in China, they must provide the certificate of provenience alongside the import and export papers for the jewelry they distribute.
Just like any other company in China, firms established in the luxury sector must align with the accounting requirements imposed and seek for professional help in this matter. You can also address your inquiries in this direction to our team of specialists and accountants in China.
Short facts about the jewelry market in China
According to statistics and important documentations, China is considered one of the most solid and important jewelry markets in the world that encompasses the fabrication, and the sale of luxury goods like these. More than that, according to numbers, China is the first largest jewelry market in the world, with a history that started hundreds of years ago. Jewelry manufacturers, wholesale retailers, online company owners and raw material distributors have enough support and space on the Chinese market, the country offering excellent development opportunities for locals and foreigners at the same time. Suppliers of jewelry findings have the same level of importance as the jewelry manufacturers in China, and such a business can be a great idea for small or medium entrepreneurs.
In terms of economy and statistics, you can find interesting information below:
- Around USD 1,627,000 million was the total FDI stock for China in 2018;
- China ranks 46th out of 190 worldwide economies, as stated by the 2019 Doing Business report;
- China is the second largest foreign direct investment recipient in the world, followed by Hong Kong;
- Japan, South Korea, the USA, Singapore and the Netherlands were solid investors in China last year.
Those interested in opening a jewelry company in China can contact our team of company formation agents in China.