How to setup a China Company
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Company setup and operation in China ,the following list of documents are required to submitted(the majority of which must be drafted in Mandarin):
· In China, only Chinese company names are officially used, while English names are for reference only. Any names are subject to the approval of relevant authority. Bear in mind that, in order to avoid that the name you’ve chosen for your company is already in use or, for some reason, is unusable, you must ask for the name’s pre-approval with the right authorities, that is the AIC (Administration of Industry and Commerce) in the city in which you intend to open the company.
· Shareholders,share rate for each investor, must also be pre-approved;
· The managerial structure, or the names of the board directors, general manager, supervisor and legal representative, which often coincides with one of the directors;
· The legal address of the company (including the name, email and phone number of the owner of the land or building). Note that the address of the company should be “exclusive” (it’s not possible to share an office with other companies or have a virtual office in order to reduce costs) and “appropriate” to the business scope of your company (for example, if your company deals with manufacturing you can’t register it in an office in the city center, you’ll need suitable space for the type of production you wish to carry out).
· The Articles of Association (AOA), which contain vital information about the description of the business scope in which you intend to operate (whose importance has already been thoroughly discussed in this article), the managerial structure, the method of returning profits and more;
· As per the company registered capital , there is no minimum capital required. In the view of government departments, they will consider if the drafted capital in the article of association is reasonable for local company operation or not , get your company registration approval or not. Though the registered capital 20000 RMB is not problem, we may suggest that the manufacturing enterprise, the registered capital of RMB 1 million or above is usually required; the trading and wholesaling RMB500,000 or above; retailing, as low as RMB300,000; the service sectors, such as consultancy, technology, market research and development, the registered capital is around RMB100, 000 or above; for domestic companies, as low as RMB30,000.
· Any other document requested: the list of documents to submit can vary depending on the scope of your business, the city and province of the company (which will depend on the legal address you intend to submit) and the sudden changes to which Chinese law is subject.
· If you don’t have all your documents in order, your application will almost certainly be denied, and after the first denial, getting the necessary permits becomes even more difficult.
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