What is a Wholly Foreign-Owned Enterprise?
A Wholly foreign-owned Enterprise is a Chinese business which is 100% owned by a foreigner. Foreign enterprises, foreign economic organizations and foreign individuals invest in China to establish economic entities that can independently bear civil liabilities and have the status of Chinese enterprises as legal persons.
Unique features of a WFOE
The unique feature of a WFOE is that involvement of a mainland Chinese investor is not required.
Except for land, 100% of the company’s investment is privately owned by foreign investors. The operation is independent, without Chinese participation. Except for taxation in accordance with China’s relevant tax regulations, operating income is completely owned and controlled by the investors.
How to set up a WFOE?
The procedure for opening a WFOE:
1. Collection of the required documentation for the application process;
2. Approval of the company name for application/pre-registration;
3. Registration of the documents and signature of the investor;
WFOE application process;
1. Obtain the Certificate of Approval from the Ministry of Foreign Economic Relations and Trade;
2. Get your business license
What we will help you set up for your WFOE:
1. Registration with the local public security bureau;
2. Fabrication of the company stamps;
3. The opening of the company bank account;
4. Application for import & export licenses (if necessary);
5. Application for the general taxpayer (VAT taxpayer) and application for tax refund permit (upon request).
Time request: 25 workdays
What we extra services we provide
1. Professional advice on how to set up including company structure, shareholders benefits.
2. The application form for business registration (record filing)
3. Letter of credit commitment for self-declaration of company name
4. Company articles（Or an amendment to the constitution）
5. Notification of self-declaration for company name
6. The proof of incumbency for the directors, supervisors and managers
You only need to provide
1. Qualification certificates of the investors
2. The copy of photos ID for legal representatives, directors, supervisors and managers
3. Proof of no criminal activity
4. Description of your business
You will receive the following certificates and documents
1. Original business license2. Copy of business license
3. Notification of opening
4. Company chop
5. Financial chop
6. Legal person chop
7. Certificate of seals company with record file
Why choose GEI for company establishment ?
GEI have assisted more than 200 clients to set up a company in Mainland China including individuals and cooperates in the past 2 years. Let professional expertise guide you to succeeding in China.
We provide customers with the best service experience
From: Mr. Nico Lesmana, Indonesia
“If you want to set up any legal documents in China, you need to find a reliable partner. All those criteria found in GEI. They are very professional teams, and are quick to answer any questions for customers; also the general Nancy Wang is very lovely and sincere person. For GEI, I feel very safe because I know that they are in good hands for any legal document matters to me in China.”
From: Yun Shou fitness (Guangzhou) CO.LTD
Yun Shou fitness (Guangzhou) CO.LTD, which is the agent of Taiwan for pilates in Canada. Since May 2017, we have selected Guangzhou as base after making completely research on Pilates market in Guangdong.
In the beginning, we got the professional assistance from GEI (Global eastern investment), especially the general manager Nancy Wang, who carefully assisted us to finish it so that we can contribute our efforts to the country with legal landing in Guangzhou.
GEI (Global eastern investment) is a professional team, which is absolutely the best strategic partner for investors.
From: Mr.Aaron Thomas SEO
Nancy and her team took our team step by step with each process required to open a WFOE company in China. Not only that but she also helped introduce several potential customers to us. If you want something more than just an accountant but someone who will help develop your business Global Eastern Investment is your best choice.