Opening a company in Chinese Special Economic Zones is a fairly easy process if you consider the procedures and formalities required by the authorities. In this endeavor, you can also count on specialized help from our company formation agents in China. In the following lines, you can discover information about the Special Economic Zones in China and how you can develop a business.
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Information about Special Economic Zones in China
Special Economic Zones in China are also called Free Trade Zones or SEZs and are well-defined areas where various businesses can be opened, in an extremely advantageous economic climate. Here are some details about the Chinese SEZ:
- There are 14 open coastal city zones, 5 special economic cities, and one special economic province.
- Some of the Chinese SEZs are concentrated on developing the urban areas with the help of foreign businesses.
- There are special policies imposed for Chinese economic zones, many of them referring to a specific tax regime.
- Special Economic Zones in China provide top technologies and innovative business tools to foreigners looking to expand their business here.
Most of the companies established here are partnerships or joint ventures. If you want to set up a company in China and you are interested in the formalities imposed by the Chinese SEZ feel free to get in touch with our team. On the other hand, you should know that you can hire the services of our accountants in China right after the incorporation is made.
How do I open a company in the special economic zones in China?
WFOE or Wholly-Foreign-Owned-Enterprise is the proper business structure for international entrepreneurs looking for business in China. Such structure requires the following:
- CNY 30,000 as minimum share capital;
- At least 1 shareholder;
- A local business address;
- A local bank account;
- Tax registration;
- Board of managers (local and/or foreign);
- A business license;
- Company stamp.
Those who want to open a company in China have the support of our team at their disposal. Talk to us about company formation in China and the registration formalities in the Special Economic Zones in China.
Opening a business in one of the Chinese SEZ
If you choose Chinese economic zones for business development, the following areas might attract you:
- Shenzhen,
- Xiamen,
- Hainan,
- Zhuhai,
- Nantong,
- Swatow,
- Yingkou City,
- Ningbo,
- Khorgas,
- Guangzhou,
- Chongqing City,
- Kashgar,
- Fuzhou,
- Shanghai,
- Dalian City,
- Wenzhou,
- Weihai,
- Zhanjiang.
All the details you need to know about the Chinese economic zones and how you can start a company in China can be explained by one of our specialists if you contact them online or by phone.
Advantages of opening a company in the special economic zones in China
Those who open a business in the Chinese SEZ can benefit from an advantageous tax system. For example, those who invest in high-tech industrial development zones can benefit from a corporate income tax of 15%. Also, those with businesses in coastal economic open zones in China can be subject to a corporate tax of 24%.
Regarding the number of companies registered in China, the following data may be interesting for you:
- At the end of 2021, over 103 million individually-owned companies were registered in China.
- In 2021 alone, over 19.7 million businesses were incorporated in China.
- More than 276 million people were employed in the labor market in China, according to data for the same year.
Are you interested in opening a company in Chinese special economic zones? You can contact our company formation agents in China for complete assistance and comprehensive information. We are here to help you with company incorporation in China.