How to Set Up a WOFE in the Free Trade Zone in Shanghai, China
September 18, 2012 By WiseLink Law Firm Shanghai
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Time estimated to set up a WOFE in the Free Trade Zone in Shanghai: 2 to 3 months. I - Investors - Individual or corporation from foreign countries or China Hong Kong, Macao and Taiwan. No special requirement. II - New Company Name - Chinese Name: ***** International Trading (Shanghai) Co., Ltd English Name: no limit.
III - Business Scope
International trading, trans-port trading, trading between enterprises of FTZ, simply commercial processing.
IV. Registered Capital
1. Registered Capital shall be more than RMB 500K (or relevant foreign exchange), and shall suit the scale or budget of investment.
2. 20% of the Registered Capital shall be injected into a new company within 3 months since the date of issuance of the business license, other 80% registered capital shall be injected within 2 years.
V. Vary Tax Rate
1. Value added tax: 17%
2. Enterprise profit tax (income tax): 25%
VI. Leasing Business Address
Leasing an office in FTZ to act as the registered address of new company.
VII. Requirement of the Company's structure
1. Shareholder of the Company: means the investors of the company.
2. Board of Directors or Executive Director of the Company: a Company may set Board of Directors, or not set Board of Directors and just set 1 executive director, members of the Board of Directors (3 or more than 3 persons are required) or executive director (1 person) shall be appointed by Investors (Shareholders) of Company.
3. Board of Supervisors or Supervisor of the Company: a Company may set Board of Supervisors, or not set Board of Supervisors and just set 1 Supervisor; members of the Board of Supervisors (3 or more than 3 persons is required) or Supervisor (1~2 persons) shall be appointed by Investors (Shareholders) of Company. Members of Board of Directors, financial personnel and general manager should not act as Supervisor.
4. Legal Representative of Company: Legal Representative of Company shall be acted by Chairman, Executing Director or General Manager.
5. Accountant of Company: a Company shall employ 1 accountant whom owned Chinese Qualification Certificate of Accountant (or using accounting service from Chinese accounting service company).
VIII. Operating Years of the Company
30 years
IX. Invoice Type that Could be Applied
1. Normal commercial invoice.
2. VAT (value added tax) invoice.
ABOUT THE AUTHOR: Wiselink Law Firm
WiseLink is a law firm based in Shanghai, China. Our practice includes international trade, admiralty & maritime and international banking. The firm was established in Nov. 2008. WiseLink is created by Ms Marra Won, experienced attorney for over 9years. Now WiseLink has a staff of six, all of who were graduated from famous university. Our goal is to be top legal team in fields of international trade and admiralty & maritime in China.
Copyright WiseLink Law Firm Shanghai
More information about WiseLink Law Firm Shanghai
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
International trading, trans-port trading, trading between enterprises of FTZ, simply commercial processing.
IV. Registered Capital
1. Registered Capital shall be more than RMB 500K (or relevant foreign exchange), and shall suit the scale or budget of investment.
2. 20% of the Registered Capital shall be injected into a new company within 3 months since the date of issuance of the business license, other 80% registered capital shall be injected within 2 years.
V. Vary Tax Rate
1. Value added tax: 17%
2. Enterprise profit tax (income tax): 25%
VI. Leasing Business Address
Leasing an office in FTZ to act as the registered address of new company.
VII. Requirement of the Company's structure
1. Shareholder of the Company: means the investors of the company.
2. Board of Directors or Executive Director of the Company: a Company may set Board of Directors, or not set Board of Directors and just set 1 executive director, members of the Board of Directors (3 or more than 3 persons are required) or executive director (1 person) shall be appointed by Investors (Shareholders) of Company.
3. Board of Supervisors or Supervisor of the Company: a Company may set Board of Supervisors, or not set Board of Supervisors and just set 1 Supervisor; members of the Board of Supervisors (3 or more than 3 persons is required) or Supervisor (1~2 persons) shall be appointed by Investors (Shareholders) of Company. Members of Board of Directors, financial personnel and general manager should not act as Supervisor.
4. Legal Representative of Company: Legal Representative of Company shall be acted by Chairman, Executing Director or General Manager.
5. Accountant of Company: a Company shall employ 1 accountant whom owned Chinese Qualification Certificate of Accountant (or using accounting service from Chinese accounting service company).
VIII. Operating Years of the Company
30 years
IX. Invoice Type that Could be Applied
1. Normal commercial invoice.
2. VAT (value added tax) invoice.
ABOUT THE AUTHOR: Wiselink Law Firm
WiseLink is a law firm based in Shanghai, China. Our practice includes international trade, admiralty & maritime and international banking. The firm was established in Nov. 2008. WiseLink is created by Ms Marra Won, experienced attorney for over 9years. Now WiseLink has a staff of six, all of who were graduated from famous university. Our goal is to be top legal team in fields of international trade and admiralty & maritime in China.
Copyright WiseLink Law Firm Shanghai
More information about WiseLink Law Firm Shanghai
View all articles published by WiseLink Law Firm Shanghai
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
