Malaysia
Hotline: +603-2141 8908
Tannet
service coverage in Nanjing Company Registration
- Company registration,
- Open corporate banking account ,
- Trademark Registration,
- Work Permit Application.
- China Z-Visa Application,
- Work Certificate application,
- Residence Permit Application
1) Representative
Office:
1.1 RO can be used
to Paying out expenditure to your vendor and your employee.
1.2 Its aim is to
handle the issues with payroll compliance when recruiting employee.
1.3 Don’t be allowed
to issue local invoices in your representative office.
1.4 The sales
invoice would deal directly with the parent company.
1.5 It must confine its activities to acting as liaison
office on behalf of its parent company
2) Service WFOE:
2.1 It is a legal entity and independent china domestic
company, but wholly owned by Foreigners.
2.2 It is suitable for a business is to provide service only
like consultant, software, design etc
2.3 It excludes the sell-and-buy of goods
2.4 It can only issue sales invoice with 5% tax, excluding
VAT invoice
2.5 It can be used to pay out all expenditures.
2.6 It needs to get approval of 7 relevant Government
Authorities in Nanjing
2.7 Some industries would require special approval by more
authorities.
3) Trading WFOE
3.1 It is a legal entity and independent china domestic
company, but wholly owned by Foreigners.
3.2 It include the sell-and-buy of goods , excluding
manufacturing goods
3.3 It can provide service also
3.4 It can only issue VAT invoice with 17% and sales invoice
with 5% tax.
3.5 IT can be used to pay out all expenditures.
3.6 It needs to get approval of 8 relevant Government
Authorities in Nanjing
3.7 Some industries would require special approval by more
authorities.
4) Manufacture WFOE
4.1 It is a legal entity and independent china domestic
company, but wholly owned by Foreigners.
4.2 It can manufacture goods
4.3 It include the sell-and-buy of goods
4.4 It can provide service also
4.5 It can only issue VAT invoice with 17% and sales invoice
with 5% tax.
4.6 IT can be used to pay out all expenditures.
4.7 It needs to get approval of 10 relevant Government
Authorities in Nanjing
4.8 Some industries would require special approval by more
authorities.
5) Joint Venture with Local Partner
5.1 It is a legal entity and independent china domestic
company.
5.2 Only a China existent company can be your Local Partner
5.3 China natural persons cannot directly be your local
partner
5.4 It can be in Service industry, or Trading Industry or
Manufacturing industry
Note that for all types of above companies if company
register place is over 300sqm, a special approval from fire department is
needed.
Question: Who Can be shareholders, directors/legal
representative and supervisor?
Any foreigner or any foreigner entities can be shareholder.
However, China Citizen can not be one of your shareholders.
Only China local company can be one of your company
shareholders.
A legal representative, a manager and a supervisor are
needed to register a new company in China.
Legal representative, manager and supervisor can be
foreigner or local natural person.
Legal representative and Manager can be the same person.
Supervisor must be an independent person.
Question: what are a legal representative and a
supervisor? What roles do they take?
The legal representative of a company is its main principal
of the company who holds a special position therein and is the officer with the
legal power to represent, and enter into binding obligations on behalf of, the
entity s/he represents in accordance with the law or the articles of
association of the company. A legal representative’s acts, when concluding a
contract, are binding on the entity, even where made ultra vires (i.e. beyond
the authorized scope)The main role of supervisor is to safeguard and supervise
the smooth and lawful operation of a company. The law has delegated supervisor
a board rang of rights, such as inspecting the company’s finances, supervising
the company directors and senior managers, recommending dismissal of directors
etc.
To act as the legal representative/supervisor she/he shall
not satisfy any of the following conditions and, in practice,
The company registry authority will also review those
conditions:
(1) without civil capacity or with only limited civil
capacity;
(2) being pursued with criminal punishment or other criminal
compulsory measures;
(3) being ordered for arrest by public security bureau;
(4) having been sentenced to any criminal punishment due to
an offense of corruption, bribery, encroachment, misappropriation of property
or disrupting the economic order of the socialist market and five years have
not elapsed since the completion of the execution of the punishment;
(5) being a former director, factory director or manager of
a company or enterprise which was bankrupt and liquidated, whereby s/he was
personally liable for the bankruptcy thereof, and three years have not elapsed
since the completion of the bankruptcy and liquidation of the company or
enterprise;
(6) being the legal representative of a company or
enterprise, but the business license thereof was revoked and this company or
enterprise was ordered to close due to violation of the law, whereby s/he is
personally liable for the revocation, and three years have not elapsed since
the revocation of the business license thereof; or
(7) having a relatively large amount of debt which is due
but unclear
Question: What kinds
work permit and china visa can be applied when completing to set up a WFOE?
Apply Work Permit-> Apply Z visa (employment visa)->
Apply Work Certificate-> Apply Residence Permits
Each of Shareholders in your WFOE as an investor can apply
work Permit, China Z-visa, Work Certificate and Residence Permit. And spouse
and children can accompany with them.
Work Permit: To get work permit，you need
to provide foreigners resume and qualifications certificate ( degree
certificates and professional skills qualification certificate and two years or
above related working experience); valid passport photocopy; health certificate
issued by the Chinese embassies, consulates, the authentication of foreign
medical organization or the Chinese government appointed health and quarantine
departments。
Z visa: issued to those coming to China for employment. To
get a Z visa you’ll need to submit a Work Permit or a Foreign Expert’s License,
obtained by the company in China you will be working for, and a letter of
invitation from your employer, as well as the marriage certificate and birth
certificates for accompanying spouse and children, respectively. In application
for Visa Z, foreigners shall, depending on different situations, provide the
Foreigner Employment Permit of People’s Republic of China (obtained from labor
and personnel departments of province, autonomous regions or municipalities
directly under the central government by employer organizations in China), or a
company representative certificate in China, or a telegram from an authorized
organization, or an approval from Ministry of Culture of People’s Republic of
China, or visa application letters issued by foreign affairs office of
province, autonomous regions or municipalities directly under the central
government.
Work Certificate: It will be obtained from labor and
personnel departments of province
Residence Permit: It is not the visa but the residence
permit that gives you the legal right to live in China. Once you arrive in
China, you’ll have 30 days to secure your residence permit. Your initial visa
will expire within a few months, but your residence permit will function like a
multiple-entry visa, allowing you to leave the country and return without an
additional visa as long as the permit is valid. The Foreigner Residence Permit,
typically good for one year and renewable annually, is standard issue for the
majority of foreigners working in China, though some (such as company
executives, legal representatives, or investors) qualify for a permit that is
good for two years. With a valid residence permit you are allowed to leave the
country and return, even if your initial entry visa has expired.
Accompanying
spouse and children are given the same type of visa and residence permit as the
one who will be employed in China, though each family member will have to fill
out an individual application and pay the application fees. If the stork should
find you in China, you’ll need to bring your new baby’s birth certificate to
the local PSB for registration.
If you have an employment visa and residency based on a
family member’s employment, you may find your own employment while in China.
However, your new employer will then have to register your employment and file
the necessary paperwork to make it legal.
Question: What is
service charge and out-of-pocket expenses?
For your information, your cost of setting up a Service WFOE
is US$ 2800, a Trading WFOE 3100. The above quotation exclude out-of-pocket
expenses which are about US$ 330 to US$ 660. The above quotation does not
include the special-permit-application fee. if you need us to arrange a virtual
registered office it is an one-time charge of RMB9,000 for first 12 months
(about US$ 1500) paid to house owner of the address.
Final fee schedule will be up to signed Engagement Letter.
Question: How we serve you? What are the processes?
The procedures to register an WFOE (Wholly Foreign Owned
Entity) as below:
Require → Consult → Engage
→
Register
In the consulting period, as company structure is usually
relevant to international tax Planning issues we always let Taipei Headquarter
staff to join in consulting work until signing up Engagement Letter.Engagement
Letter offered by us will include all the detailing procedures, required
documents , service fee and out-of pocket expenses etc., Before we can prepare
Engagement Letter we need you to answer below questions,
1) What are your business categories? Is it Services, Consulting, Trading or
Manufacturing?
2) What are your business items? We will judge if it is a
special-permit industry.
3) What is your business model? Where is your revenue from?
Please give us your website.
4) How are your
shareholders composed? Where is your parent company established? Are the
shareholders companies or individuals?
5) Do you have your
own registered address already? If not, how long are you going to need to
locate your own address? Do we need to arrange a virtual registered office for
you in the initial period?
6) What are your company phone number and your personal
phone number? We will discuss with you orally if necessary.
After signing Engagement letter, our Nanjing staff will
execute registering procedures
Question: After
getting company license, what kinds of services Tannet can provide?
After completing your Nanjing company registration you do not need to recruit or hire your own
accountant or payroll handling personnel. If you adopt our 4-in-1 service, Tannet
colleagues in Taipei can act as your in-house accountant but will not need to
be located in your office.
If you want to have more detailed information, please don’t
hesitate to contact us. You can also visit the website below to learn more.
Question: What other
cities Tannet can provide similar services?
Our affiliates located in Beijing, Shanghai, Xiamen ,
Hangzhou and Taipei can also provide you similar services to those featured in
Nanjing.
Tannet Malaysia is an international consultant firm based in Hong Kong, Shenzhen. We do have over 10 branches in China which I believe we are your best choice for your ASIA investment. We provide one stop business solution from pre-setting up preparation to incorporation, management to operation, market strategics and brand protection and etc. Kindly contact us for more information.
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
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my