Here’s an Outlined Guide and Process on Company Incorporate in China
If you’re a local or foreign investor with brilliant business ideas, China is the place to invest in. Company incorporate in China is now opened to any investor as the process is more streamlined for you to follow. The process might be complex if you don’t know the Chinese language or are not familiar with the registration process. 3E Accounting Indonesia, an established business solution service provides is an excellent choice for you to roll out the registration process. Having been in the industry for over a decade, you’ll enjoy a range of services from:
- Accounting and auditing services
- Corporate secretarial services
- Taxation and legal services
- Business license renewal
- Human resource services
- Incorporation of the company
Get your documents ready and visit us today if you are thinking of doing business in China.
Process for Business Registration in China
The first step on company incorporate in China is acquiring a notice pre-approval of the name of your company. You do it from the Administration of Industry and Commerce (AIC). Now, you can decide to make an application or delegate the work to an entrusted representative by the shareholders to carry out the process. Once the name is certified, the application forms must be endorsed by all the shareholders together with the other statutory documents.
Under China’s Company Act, you’re required to deposit your capital to access the certificate of deposit, and this can only be possible if you have a bank account. And so, you must ensure that you open a corporate bank account with the local banks within the regulatory requirement of the banks. Now, the minimum share capital presently stands at CNY 30, 000 with the outstanding capital contribution (if available) payable within two years of incorporation.
According to the Company’s Act, you must obtain a capital confirmation report from a renowned audit firm. You need not look further other than 3E Accounting business solution provider for any audit services without having to break a sweat. We will verify and certify the capital report and give a comprehensive report to the agency.
Company License in China
Besides the capital report, company incorporate in China next step is the acquisition of the business license. For this to be possible, you must file a comprehensive application form alongside the following documents to obtain the registration certificate.
- The article of Association certified and consented by each shareholder.
- Identification documents that verify the names and addresses of the directors and selected supervisors.
- Notice of consent of the company business name
- Proof of the registered office.
- Appraisal report/ capital confirmation certificate.
- Identification documents that specify the legal representative.
The eligibility of the entire process of company registration must undergo another examination by the Administration of Industry and Commerce within two weeks before reaching the final decision.
More Requirements for Registering a Company in China
Every company requires to have a company seal as part of registration. Before presenting yourself to the company seal maker, you must ensure that you have your business license in duplicate (one copy and original). Furthermore, you need the identification documents of the legal representative. Once that part is complete, you’ll, therefore, given the green light to design the company seal.
Company incorporate in China requires that you must apply for the organization’s code certificate with the Quality and Technology Supervision Bureau. The application should be under a month of obtaining your business permit.
As part of the post-registration process, you must ensure that you file for tax registration. The applying can either be with the State Taxation Bureau or the Local Taxation Bureau authorities. 3E Accounting will take you through the regulations guidelines about taxation. You’ll thereby get your Tax identification card completing the entire process of tax compliance. Remember that your registered address enables you to get all correspondences and notices from the local agencies and authorities.
The process of company incorporate in China may seem tedious, but 3E Accounting is here to help you. Contact us for registering your company in minimal time and cost.