Malaysia
Hotline: +603-2141 8908
Overview of Yiwu
Yiwu is located in Jinhua and
Quzhou Basin, at east longitude 119 degrees 49 minutes to 120 degrees 17
minutes and north latitude 29 degrees 02 minutes 13" to 29 degrees 33
minutes 40", and in the geographical center of Zhejiang Province.
It lies on the east of Dongyang,
south of Yongkang and Wuyi, west of Jinhua and Lanxi, and north to Zhuji River.
Far away from the provincial capital Hangzhou hundred meters, the City is
surrounded by the mountains on east, south and north three sides. The length
from north to south is 58.15 kilometers and from east to west is 44.41
kilometers wide. Yiwu, a pearl of China market, is striving to improve
investment environment and to provide favorable conditions for foreign
investers.
Yiwu City Foreign Trade and
Economic Cooperation Bureau has also drawn up "a Guide to Yiwu Investment
Promotion Projects", and actively promoting the industrialization of
investment.
Representative Office (RO) is
established by foreign companies to engage in business liaisons, quality
control, product promotion, market research, exchange of technology and other
permitted activities in China.
Yiwu Representative Office Registration-Features of a Representative
Office in Yiwu
1. Legal status and Business scope of Yiwu representative office
The Representative Office has no
qualification of a legal entity, is not allowed to directly engage in
operational activities, as shown in the Business License of ROs, that a RO
should not engage in direct operational activities, such issue invoices on its
own, remitting outward, signing sales or purchase contracts, or receiving
income from services performed but may act as business liaison, product
promotion, market research, exchange of technology for its parent company.
2. Name of Yiwu representative office
The name of the Representative
office should be in the form of "Name of the Enterprise + Name of the City
+ Representative Office (or Office)".
3. Min-registered capital of Yiwu representative office
No requirement on the capital for
the establishment of a RO
4. Financial services for Yiwu representative office
The RO may open account in bank
and accept the payment from the parent companies overseas. However, the
remittance can only be used for the day-to-day expenses. They are not allowed
to open L/C account in bank and to accept other more extensive financial
services
5. Business Address of Yiwu representative office
The business address must be
located in commercial buildings approved by the government.
6. Hire staff for Yiwu representative office
Cannot employ the staff directly,
which must be processed through a third-party intermediate agencies with
relevant qualifications.
Yiwu Representative Office Registration-Documents required
Below are the documentation of Foreign Representative Office setting up
in Yiwu, Item 1-5 should be prepared before coming to Yiwu:
1. 1 Certificate of Incorporations
or Equivalent document certified by Chinese embassy or Chinese consulate
overseas.
2. 1 Bank Reference Letter from
investor's bank to declare a good standing.
3. A brief summary of the
operations and business of the parent company, such as the principal business
activities, registered address, contact phone number, fax, name of the parent
company; director of parent company's passport copy
4. China Chief Representative:
Resume; 6 photos [2 inch size]; passport copy certified by Chinese embassy or
Chinese consulate overseas.
5. If there are General
Representatives to be stationed in Yiwu in addition to the Chief
Representative, the resume, 2 pictures, passport copy certified by Chinese
embassy or Chinese consulate overseas;
6. 2 original leasing contracts of
the office premise to be used by the Representative Office; the lease term
should be at least 12 months; the lease contract should be register in building
administer department.
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Contact us:
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