Why incorporate in China?
China is situated in the East Asia covering an area of approximately 9,600,000 square kilometres. It borders in the north by Russia, Mongolia; in the north-west by Kazakhstan; in the west by Tajikistan; in the south by Afghanistan, Pakistan, India, Vietnam, Nepal etc.; in the north-east by Korea.
With a population of 1.36 billion, China is the most populous nation in the world. The major cities are the capital Beijing, which is the political and cultural centre, and Shanghai, which is the largest industrial, commercial and financial centre. Other important cities are Guangzhou and Shenzhen in the South, Fuzhou on the coast opposite Taiwan and Tianjin near Beijing in the North.
Key Benefits
- Attractive quality-to-cost ratio of Chinese manufacturing operations
- Access to China’s growing market for imported goods and services
- China is the world’s leading trading and manufacturing nation based on output
- China GDP topped $10 trillion in 2014, second only to the United States with a growth rate that has consistently reached between 7 and 10 percent over the last three decades. As the economy matures, the annual GDP growth is still expected to exceed 5 percent
- More than 300 million people in China are considered middle class today, with its urban middle class expected to reach 70 percent of its population by 2030
- The WFOE company offers foreign enterprises independence and freedom to implement the global strategy of its parent company without the obligation to consider the involvement of the Chinese partner
- A WFOE has the ability to formally conduct business as oppose to only performing a representative office function. It can issue invoices to customers in RMB (Chinese Currency) and also receive revenue in RMB
- A WFOE can convert profits earned in RMB to US dollars. Remittance can be made to the parent company outside China
- Protection of intellectual know-how and technology
- A WFOE offers greater operations, management and developmental efficiencies
Services Offered
- Advice and structuring of Chinese companies for foreign business in China including Joint Ventures (JVs), Whole Foreign-Owned Enterprises (WFOE) and Representative Offices (Rep. Office)
- Liaison with local and government authorities for required approvals
- Advice relating to tax planning, inward investment, cross border structuring and asset protection
- Business advice and introductions
- Registration of trademarks and patents
- Identification of suitable premises
- Personnel recruitment
- Payroll administration
- Business and personal tax registration
- Independent audit services
- Business advice and introduction
