The Ministry of Information and Technology in China is the institution in charge of the software industry, communications, internet, postal service, informatization and many more and the one that issues the necessary licenses for opening a company in this field. Support for opening a company in the IT sector in China can be provided on request by one of our company formation specialists in China who can take care of all the formalities implicated.
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How do I set up a company in the IT sector in China?
International entrepreneurs attracted by the thriving IT sector in China can easily open companies and can choose the WFOE in China or the Wholly Foreign-Owned Enterprise, the type of structure where 100% ownership is permitted. RMB 10,000 is the minimum share capital for opening a WFOE in China, in order to establish your company in the IT sector. Below are some important conditions for establishing a WFOE in China:
- A name verification with the authorities is mandatory, in order to avoid any possible breaches.
- The Articles of Association are the company’s main documents, comprising information about the owners, the activities of the business, internal rules, etc.
- The minimum share capital needs to be deposited in a local bank account.
- The licenses and permits must be obtained before the incorporation formalities.
- The registration for tax purposes is normally the next step to consider, once the certificate of incorporation is issued.
The bureaucracies for opening a WFOE in China might seem complicated for foreign entrepreneurs, which is why the support of our company formation agents in China might be the proper choice. The language barrier can impede at the time the company registration in China commences, therefore, you should get in touch with our team and solicit in-depth assistance.
What kind of activities can I establish with an IT company in China?
The IT sector is extremely generous and appealing to many investors who can predict the direction of the business in this thriving field. The opportunities are huge, starting from software and hardware development, outsourcing IT support, system integration, internet network, mobile communication, off-the-shelf technology, security technology development and ending with mobile applications, cloud services, online games and many more. It is a well-known fact that the IT sector in China is a powerful source of profits of billions of dollars, so it is quite normal for international entrepreneurs to establish their business presence in this part of Asia and particularly in this excellently developed field. Also, we remind that the registration certificate of an IT company in China is obtained from the State Administration for Industry and Commerce of the People’s Republic of China.
Support for online businesses
The online sector is home to a multitude of businesses, it can be easily accessed by both entrepreneurs, in terms of business, and final clients. Online companies can reach profitable results and they can be easily established, with the support of an IT company, as an example. Numerous dedicated IT companies provide support for online businesses in China or abroad, so clients are not only diversified but can also act as a business card and be presented to future customers. Such a company can set up an online business from A to Z, meaning that they can reserve the domain, develop the design of the website, implement all kinds of mandatory internet certificates and many more. International investors might find interesting this kind of business which can be easily established in the IT sector in China, concerning the laws and regulations in the commerce and internet areas.
Information about the IT sector in China
The communication technology sector in China is not only dynamic, but it also generates huge profits and sustains the gross domestic product of China in a large percent. This market is open to any kind of entrepreneur, and there are specific sub-sectors that might be appealing for investors, for example, the smartphone field. Below you can find information, statistics, and predictions about the ICT sector in China:
- the IT export field of China in 2017 reached around USD 781 billion;
- profits of approximately USD 8.1 trillion is the sum expected to be reached in the IT field by the end of 2021;
- international IT firms are recommended to respect the Multi-Level Protection Scheme and protect against cyber attacks;
- a leading sub-sector is the semiconductor manufacturing equipment which serves the global market in approximately 50% rate.
Those interested in opening an IT company in China are invited to contact our company formation representatives in China and ask for assistance, information and complete support in matters of company registration and more.