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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.
Equity joint ventures (EJV) are
the second most common manner in which foreign companies enter the China market
and the preferred manner for cooperation where the Chinese government and
Chinese businesses are concerned. Joint ventures are usually established to
exploit the market knowledge, preferential market treatment, and manufacturing
capability of the Chinese side along with the technology, manufacturing
know-how, and marketing experience of the foreign partner.
Equity can include cash,
buildings, equipment, materials, intellectual property rights, and land-use
rights but cannot include labor. The value of any equipment, materials,
intellectual property rights, or land-use rights must be approved by government
authorities before the joint venture can be approved.
After a joint venture is
registered, the entity is considered a Chinese legal entity and must abide by
all Chinese laws. As a Chinese legal entity, a joint venture is free to hire
Chinese nationals without the interference from government employment
industries as long as they abide by Chinese labor law. Joint ventures are also
able to purchase land and build their own buildings, privileges prevented to
representative offices.
Yiwu Equity joint ventures Registration-Capitalization of Joint Venture in Yiwu
The Chinese company has registered
capital requirements, Company Law, the minimum registered capital of 3 million,
the company trades are different in nature, registered capital will be more
different. Such as trade-based registered capital: Recommendation 50 million
production: the proposed 1 million, consultants, type: Recommendation 10
million; registered capital can be a one-time place (business license is issued
for 6 months from the date of one-off place), can be divided into 1-2 During
the year in stages, such as in stages, need to be completed at the Companies
Registry within three months, lowest 15% in place, the rest of the payment in
installments. According to the registered capital, the size of the period to
determine the stages in place. Note: China has registered capital of more
stringent requirements in place, the company registered prospectus finished
please place the agreed time, otherwise would violate the "The People's
Republic of China Company Registration" and "Foreign Investment
Enterprise Law" requirements.
Yiwu Equity Joint Venture Registration-Transfers of Equity Interests in
Joint Ventures
If a party proposes to transfer
all or part of its interest in the registered capital of the joint venture
company to a third party, then each other party has a pre-emptive right to
purchase the equity interest proposed to be transferred. As an equity transfer
also requires amendment of the joint venture contract and articles of
association, which in turns requires the signature of each party, each party in
effect holds absolute consent rights to any transfer generally. All transfers
of registered capital additionally require a unanimous approval of the joint
venture company board of directors and approval by the original government
authority which approved the joint venture contract and articles of
association.
Tannet Malaysia is an International Consultant Firm based in Hong Kong, Shenzhen. We provide one stop business services to those investor who are interested to invest into Asia market such as International Company Registration, Global Trademark Application, Company Secretarial Services and etc. Kindly contact us for more information if you are interested!
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