China, officially the People’s Republic of China (PRC), is the largest country in East Asia. It is a single-party state governed by the Communist Party of China. The Republic of China (ROC) was founded in 1911. The Qing dynasty ruled the Chinese mainland until it was overthrown in 1949 and the PRC was established by the Chinese Communist Party. In 1945 the ROC acquired Taiwan from Japan following World War II. The PRC government does not recognise the legitimacy of the ROC. The PRO exercises jurisdiction over 22 provinces, five autonomous regions, four directly controlled by municipalities (Beijing, Tianjin, Shanghai and Chongqing) and two mostly self- governing special administrative regions (Hong Kong and Macau). Its capital is Beijing. The official language is Mandarin. After the introduction of economic reforms in 1978, China has become a major world economy.
- TYPE OF COMPANY: WOFE (Wholly Owned Foreign Enterprise) or JV (Joint Venture)
- COMPANY LAW: Company Law Act 2006
- SUFFIX TO DENOTE LIMITED LIABILITY: Limited (Youxian Gongsi)
- DIRECTORS: One of any nationality or residency – we can provide (Corporate directors not permitted)
- SECRETARY: Optional
- SHAREHOLDERS: One for WOFE or two for a JV Natural persons or Corporate entity of any nationality or residency – we can provide (for a JV one Chinese partner)
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Varies – please contact us for further information
- OWNERSHIP: 100% foreign ownership allowed for a WFOE
- TIME TO INCORPORATE: From 3 weeks
- REGISTERED OFFICE: Required in China – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes
- DISCLOSURE: Yes
- TAXATION: Varies – please contact us for further information
- GOVERNMENT LICENCE FEE: N/a
- DOUBLE TAXATION TREATIES: China has many double taxation treaties – please contact us for further information
- LANGUAGE OF DOCUMENTATION: Chinese with a certified English translation
If you would like further information on setting up a company in China, the formation of a Chinese company, other Chinese corporate entities or require professional advice relating to taxation or the structuring and requirements of a Chinese company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in China.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.