Qinhuangdao is a major port city in China, part of the Hebei province with sea exits to the Yellow Sea and connections to large cities around the world. The coastal development area was established in 1984 and since then it became an important destination for business and investors from abroad. If you want to open a company in Qinhuangdao Coastal Development Area and need guidance in this matter, we kindly propose you to talk to our team of company formation specialists in China.
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What you need to know about Qinhuangdao
Qinhuangdao is composed of seven large administrative districts: Qinglong, Funing, Haigang, Beidaihe, Lulong, Shanhaiguan, and Changli. The coastal development area is preferred for business by numerous international investors because of the proper connections with Asian and European business partners through a highly developed infrastructure. Here are a few facts to consider about Qinhuangdao Coastal Development Area:
- The Customs General Administration People’s Republic of China and the State Development Planning Commission approves the export activities in Qinhuangdao.
- Most of the national coal exports are registered in Qinhuangdao Coastal Development Area.
- The second largest wildlife park is found in Qinhuangdao.
- Hebei University of Science and Technology, Yanshan University and the Institute of International Business and Economics are prestigious colleges in Qinhuangdao.
- Qinhuangdao is known as the largest coal port in China and the first export processing zone in Hebei.
- Qinhuangdao is home to companies activating in sectors like trading and distribution, electronics, construction materials, computer software.
Large companies from abroad have placed their operations in Qinhuangdao Coastal Development Area and benefit from special business conditions and incentives meant to sustain the foreign investments in a big percent. If you are looking for business in Qinhuangdao Coastal Development Area, you should ask for support and assistance from our team of company formation agents in China.
Opening a WFOE in China
WFOE or Wholly Foreign-Owned Enterprise represents the suitable business structure for medium and large investors who want to have 100% control in their firm as the main advantage. Such a structure is also suitable and recommended for business in Qinhuangdao Coastal Development Area and it can be registered following a few important steps:
- Verify and reserve the name of the future business with the Chinese Trade Register.
- Information about the owners and the business activities need to be comprised by the Articles of Association.
- A WFOE needs a representative agent and a board of managers.
- The application for business licenses and permits is a mandatory condition.
- A business feasibility report is needed at the time you want to register your WFOE.
- A local bank account is necessary for depositing the minimum share capital.
- The registration for tax purposes is the step after the company is incorporated.
International entrepreneurs might find it difficult to open a company in China, therefore, it is recommended to have in attention the support of a team of company formation representatives in China. Our consultants can help you set up a company in Qinhuangdao Coastal Development Area and assist you with future business requirements.
The business direction of Qinhuangdao
Strengthening the leading position with the help of future investments in the natural resources sector is a solid plan of the Chinese authorities in Qinhuangdao Coastal Development Area. Special terminals and docks are expected to double the capacity in this area in the next few years or even faster. The integrated port services are definitely pleasing the business climate and entrepreneurs, therefore, the target is to develop the logistics and the information systems with the help of internet and innovation. Mutual growth can be sustained by continuing to fortify the relationships with clients worldwide and to provide beneficial long-term agreements. The authorities in Qinhuangdao Coastal Development Area already collaborate with other terminal ports, however, the idea is to strategically develop such relations. It is good to know that of the 4,300 foreign investments operating in China, almost 92.4% are located around coastal areas.
International entrepreneurs who want to know more about the company formation in China and about the ways in which they can set up a company in Qinhuangdao Coastal Development Area are invited to contact our team of company formation experts in China.