China WFOE formation Service Hotline:86-755-82143512,Email:email@example.com
WFOE (wholly foreign owned enterprise) is a business entity formed in China entirely with foreign capital. It is totally under foreign control and does not have any formal Chinese ownership participation. For a foreign company to be able to issue receipts and export goods from China, it must be able to legally registered as a local company or a WFOE. A WFOE is set up as limited liability entity and represents separate legal persons and is taxed according to local legislation.
The advantages of incorporation a WFOE, compared with other types of enterprises, include, but not limited to:
1. Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner
2. Ability to formally carry out business rather than just function as a representative office and being able to issue invoices to their customers in RMB and receive revenues in RMB
3. Capability of converting RMB profits to US dollars for remittance to its parent company outside of China
4. Protection of intellectual know-how and technology
5. For Manufacturing WFOE, no special requirements for Import / Export license for its own products
6. Full control of human resources
7. Greater efficiency in operations, management and future development
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net or www.companies-registry.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to firstname.lastname@example.org
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