Zhuhai is a special economic zone in China which was established in 1980, it represents a powerful economic center, with important connections with two significant business partners, Macau and Hong Kong. The ports to Pearl River sustain the multitude of trading activities, making ZEZ a powerful destination for business in China. We invite you to talk to our company formation specialist in China and find out information about how you can set up a company in Zhuhai Special Economic Zone.
Table of Contents
Short facts about Zhuhai Economic Zone
Zhuhai is home to varied activities related to technology and electronics where hi-tech companies can develop in a solid and reputable business climate. Bio-pharmaceuticals, electrical appliances, manufacturing machinery, software, electronic information and ocean-based industries are a few of the fields which present interest for numerous international investors. In addition, the transportation network has been recently improved, providing full access to countries worldwide and entrepreneurs who want to establish their business presence in Zhuhai Economic Zone. The four development zones have specific features you should consider when deciding the future operations in ZEZ:
- Zhuhai Economic and Technological Development Zone – it is the first development zone of its kind and the most important one in Southern China, focusing on petrochemicals, manufacturing and energy businesses.
- Zhuhai National Hi-Tech Industrial Development Zone focuses on electronics, pharmaceutics and food processing. It also hosts research and development startups and centers.
- Hengqin New Area – this is a pilot zone for business integration which offers privileged investment policies for foreign investors.
- Zhuhai-Macau Cross-Border Industrial Park – the two jurisdictions have an individual managing government, and it is a merged zone that offers reduced export taxes.
What are the investment opportunities in Zhuhai?
Zhuhai offers a preferential business climate and reduced taxes for companies activating in sectors like pharmaceuticals, high-tech and ocean-related industries. As an example in this sense, the corporate income tax rate of 15% is imposed on profits of companies with activities in the above-mentioned industries. Moreover, RMB 2 million represents a solid financial support for companies that invest in the research and development sector. As for the monthly minimum wage of RMB 1,380, the labor costs are lower in Zhuhai compared to other special economic zones in China. Being a reputable economic area, Zhuhai hosts more than 50 financial institutions and foreign banks, providing the opportunity of exchanging the company profits into foreign currencies. Let our team of company incorporation agents in China tell you more about how you can start a company in China and in special economic zones like Zhuhai. All the requirements in matters of documents can be explained by our consultants at any time. Moreover, the Chinese government plans to develop Zhuhai as a free trade zone, following the business model in Shanghai, the first special economic zone in China.
How can I open a WFOE in Zhuhai?
A wholly foreign-owned enterprise in China is the business entity that suits most the needs of foreign investors wanting to have complete control in their firm. This is also suitable for entrepreneurs in Zhuhai, and it can be established in respect with the incorporation conditions imposed by the entitled authorities, like drafting the Articles of Association with information about the owners, the activities, the business address, the board of managers, etc. The incorporation certificate will help the entrepreneur register for tax purposes and social contributions before commencing the activities in Zhuhai Special Economic Zone. A WFOE in China can be easily incorporated, but it is important for you, as a foreign investor, to have the support of an experienced team who can handle all the requirements of registration, tax compliance, and many other aspects. Zhuhai is definitely an appealing special economic zone for many local or abroad entrepreneurs, particularly for the excellent business conditions and climate, plus the tax reliefs they can benefit from. If you decide for a WFOE in Zhuhai, we recommend you consider the services of an accounting firm in China and of experienced accountants who can take care of payroll, bookkeeping, annual financial statements and many more.
Please do not hesitate to get in touch with our team of company formation representatives in China and solicit our complete support for opening a company in Zhuhai Special Economic Zone.