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A Shenzhen IT Industry Wholly Foreign Owned Enterprise, popularly known as WFOE in Shenzhen IT Industry, is a company entirely owned by foreign investors based in Shenzhen.


The average termination term for A Shenzhen IT Industry WFOE is from 15 to 30 years or even longer, not excluding extensions. The term can be extended from up to 50 years when a project takes a long time; return on investment is low on construction period, large investments, projects regarding sophisticated products, use of advance key technologies provided by foreign partners or activities producing competitive products internationally. Lastly, the termination of a WFOE term can be extended from over 50 years as long as State Council approves of it.


To set up a Shenzhen IT Industry WFOE does not take as much time as it does to close it. The processing time to complete the de-registration process may take from 6 months to 1 year for a Shenzhen IT Industry WFOE. Cancellation of certificate of approval and business license and de-registration of tax are the most crucial and time consuming steps in the whole de-registration process.

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