Malaysia Hotline: +603- 2141 8908
Shanghai WFOE Registration, that is the Wholly Foreign Owned Enterprise (WFOE or WOFE), a Limited liability company wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for encouraged manufacturing activities that were either export orientated or introduced advanced technology.
Shanghai is China's largest economic center and trade port, the largest comprehensive industrial city, the country's major science and technology center, trade center, financial and information center, which attracts numerous investors’ attention.
Characteristics of a WFOE
Wholly Foreign Owned Enterprise (WFOE), also known as Wholly Owned Foreign Enterprise (WOFE), is a limited liability company, the establishment of which is governed both by the Company Law of PRC and Law of the PRC on Enterprises Operating Exclusively with Foreign Capital.
A WFOE can engage itself in approved business activities and issue tax invoices on its own. It is a corporation and a tax resident. All shareholders of WFOE should not be Chinese nationals.
Advantages of WFOE
- Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;
- Ability to formally carry out business rather than just function as a representative office and being able to issue invoices to customers in RMB and receive revenues in RMB;
- Capability of converting RMB profits to US dollars for remittance to its parent company outside of China;
- Protection of intellectual know-how and technology;
- Full control of human resources;
- Greater efficiency in operations, management and future development;
- New Investor's parent company does not have to be established for more than 2 years while for Representative Office, its parent company is required to have been established for more than 2 years.
Contact us
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
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