Shanghai is one of the most prolific and appealing economic zones in China where international investors can generate profits in most of the business sectors. Shanghai Coastal Development Area opened its doors in 1992, with a precise purpose: allowing foreign investors to set up their business operations in an excellent business climate. If you are interested in opening a company in Shanghai Coastal Development Area, we invite you to discuss with our team of company formation specialists in China and find out the business conditions in this area. Complete and immediate company formation services in China are at your disposal if you want to start a business in China’s major cities or special economic zones.
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Short details about Shanghai Coastal Development Area
With preferential policies and being foreign-oriented, Shanghai Coastal Development Area is home to numerous international companies that benefit from an appealing tax regime and varied business conditions. Absorbing foreign capital at a fast pace made Shanghai turn into a solid economic zone that sustains a large percent of the economy in China. Here are a few facts to consider about Shanghai Coastal Development Area:
- There are many companies operating in the logistics and transportation sector in Shanghai.
- Shipping repair companies can be established in Shanghai.
- There are no customs duties in Shanghai Coastal Development Area.
- There are more than 5,000 domestic enterprises and more than 6,000 foreign-funded companies in Shanghai.
- Investors from more than 60 countries developed their businesses in this special economic zone.
A Wholly Foreign-Owned Enterprise or WFOE in China might represent the ideal business structure for investors and their operations in Shanghai Coastal Development Area. Complete support and guidance in matters of company formation in China can be offered by our team of consultants in China.
How do I register a WFOE in China?
The formalities for opening a WFOE in China are quite simple, nevertheless, if you would like assistance and a smooth registration process with fewer difficulties, you should talk to our team of company incorporation specialists in China. The following aspects are mandatory conditions for setting up a WFOE in Shanghai Coastal Development Area:
1. RMB 35,000 are necessary as minimum share capital for a WFOE.
2. A representative of the firm and a board of managers need to be appointed.
3. A WFOE can activate in Shanghai if special licenses and permits are obtained.
4. A business feasibility report is needed at the time the documents are prepared.
5. Registration for tax purposes is the next thing to consider once the certificate of incorporation is provided.
6. You should also ask for complete accounting services for your WFOE in Shanghai.
The applicable legislation and the company formation requirements need to be understood when deciding on forming a WFOE in Shanghai Coastal Development Area. This is where our company formation agents in China can help, alongside an experienced team of lawyers in Shanghai.
Businesses you can develop in Shanghai
The fast expansion of the Shanghai Coastal Development Area allowed foreign investors to settle all kinds of businesses. Shanghai Chongming Industrial Development Zone, Shanghai Jiading Hi-Teck Park, Shanghai Jiading Export Processing Zone, Shanghai Jinshan Industrial Zone, Shanghai Lujiazui Finance and Trade Zone, and Shanghai Pudong Economic and Technological and Development Zone are only a few of the important areas in the attention of both domestic and international investors in China. The mechanical and electrical equipment industry, the food and beverage industry, modern commerce, the biological and pharmaceutical industry, aeronautics, new energy, computer, and software are among the fields in which companies can activate. There are specific zones in Shanghai for companies dealing with electronics & IT manufacturing. Also, companies wanting to establish their activities in the chemical industry can choose the dedicated special zone in Shanghai.
According to the statistics for 2018, Shanghai ranked 5th among the Chinese financial and commercial centers and the 3rd most competitive business hub in Asia. The free trade zones plus the coastal development area are appealing to abroad entrepreneurs who would rather relocate their businesses to such areas and benefit from a multitude of advantages, plus preferential policies and a stable business environment.
If China is the desired business destination, we recommend you contact our local company formation agents. Thus, they can help you register a WFOE in China, taking care of the necessary documents, as well as the application for the desired business license. We mention that the whole process can take about 3 months, and those interested can benefit from the supply of registered addresses. Contact us for a free case evaluation.
We invite you to contact our company formation specialists in China and ask for assistance if you want to open a company in Shanghai Coastal Development Area.