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China business setup

China FIPE Registration

China FIPE Registration is also called China FIPE setup, China FIPE formation, China FIPE incorporation and China FIPE establishment.

FIPE stands for Foreign Invested Partnership Enterprise. In Mainland China, there are 4 modes of business presences for foreign investors: WFOE(65%), Representative Office(20%-), FIPE(10%+), Joint Venture(5%). FIPE becomes more and more popular among young entrepreneurs with their new startups in China as it requires no registered capital but the FIPE still could hire people, collect payments, issue invoices, apply for work & residence in China freely. It's not a surprise that most people you meet in China may not know anything about FIPE as it's relative new and government is not promoting on this.



China FIPE Registration-Conditions of FIPE in China
The Minimum number of partners should be 2, there's no requirements on the nationality of a Partner, thus it can be all foreign investors to form a FIPE or Foreign and Chinese partners mixed FIPE.  A partnerhip requires a written agreement between the partners.This written agreement must be submitted to the State Adminstration of Industrial & Commerce along with the certified passport copy of the partners. (if applicable) Should it be a general partnership enterprise (GPE)or limited partnership enterprise (LPE) then that shall be mentioned in its name. A LPE may not have less than 2 partners where one of them is a general partner nor may it have more than fifty partners.

China FIPE Registration-A partnership enterprise must meet the following requirements:
1.At lease 2 or more partners ( no requirements on the nationality of a Partner)
2.a written partnership agreement;
3.capital contribution subscribed to or actually paid by the partners;
4.a business name and an office in an office building for the partnership enterprise.

China FIPE Registration-Documents required for setting up FIPE in China
1.1x Corporate investor as partner: 1x Certificate of Incorporation, or Articles of formation or equivalent document certified by Chinese embassy or Chinese consulate overseas

For individual investor as partner : 1x Passport copy [investorindividual investor] be certified by Chinese embassy or consulate

2.1x Residential Address Proof (e.g. utility bill issued within 3 months, valid driving licenses with address, National Identity card with address, etc.) be certified by Chinese embassy or consulate
1x Bank Reference letter be certified by Chinese embassy or consulate[sample] - (Managing partner only )

3.Passport copy of: (i) Parent company's director (ii) China Partner Enterprise's general partner and (iii) China Partner Enterprise's partners

4.China general partner and partners provides: 6 photos (2 inches size), brief resume, registered capital; business Scope; 8 proposed Chinese names of China business

5.Office address in China, 2x leasing contracts [contract Sample ] , 2x certificate of real estate ownership [Sample], and 2x landlord identification [ Individual, Company ]

China FIPE Registration-Registration Procedures of FIPE in China
Foreign investors are not allowed to directly submit the application documents of incorporate FIPE to the relevant authority in China. They must retain a PRC entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authority on behalf of the foreign investor.

Procedures of setting up the Foreign Invested Partnership Enterprise in China are as following:
1.Name registration with State Administration of Industry and Commerce (SAIC)
2.Apply for Business License with SAIC
3.Chops made by Public Security Bureau (PSB)
4.Organization Code License by Technical Supervision Bureau (TSB)
5.Tax Certificate by Taxation Bureau
6.Open RMB bank account and USD bank account if required; 
7.Capital injection if need it. 
8.Financial certificate Registration
9.Import/Export license (Applicable for Trading & Manufacturing WFOE only)
10.Value Added Services: Free Visa service, 2 months accounting serivce and more arrow

Contact Us
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.shenzhen-company.net , or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422 or 86-755-82143181 or emailing to tannet-solution@hotmail.com.

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