Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation
Nanchang WFOE Formation Service
Hotline: 86-755-82143348, Email:email@example.com
Nanchang Wholly Foreign Owned Enterprise (WFOE) formation is also known as Nanchang Wholly Owned Foreign Enterprise (WOFE). Nanchang WFOE is a limited company, the establishment of which is governed both by the Company Law of PRC and Law of the PRC on Enterprises Operating Exclusively with Foreign Capital.
Nanchang WFOE can engage itself in approved business activities and issue tax invoices on its own. It is a corporation and a tax resident. All shareholders of Nanchang WFOE should not be Chinese nationals.
Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation-Name of Nanchang WFOE
The name of Nanchang WFOE is governed by "Regulations on the Management of name of Enterprises". Since Nanchang WFOE is a limited liability company, its name should be in the form of "Name of City + Name of the Enterprise +Industry+ Company Limited ". Accordingly, a company registered in Nanchang will normally bear a name like: USCorp Software Development (Nanchang) Limited.
There are certain restrictions on the use of Nanchang WFOE company names
(1) It should be in Chinese;
(2) Arabic numerals, foreign characters or alphabets are not allowed;
(3) It should not have content that contradicts national policies, damages social ethics, religions and culture;
(4) It should not have content which damages fair competition and misleads the public;
(5) Unless special approval is obtained, it should not contain the following restricted words: China, Chinese, National, State. "International" is a restricted word unless it is used to designate the industry in which the company is operating, e.g. ABC International Trading Company Limited.
Name of Nanchang WFOE has to be approved by the government before registration.
Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation-Nanchang WFOE Application Procedures
Nanchang WFOE application is a four-step procedure:
Nanchang WFOE formation step one: Application for approval of intended investment activities (project proposal). The examination and approval authority shall reply within 20 days on receipt of the proposal.
Nanchang WFOE formation step two: Application for intended name to be used by the WFOE with the Nanchang Administrative Bureau for Industry and Commerce.
Nanchang WFOE formation step three: Application for the approval of feasibility study, constitution (memorandum and articles of association). A feasibility study will be prepared covering financing, site selection, technological process, equipments, raw material supply, market survey, economic results, foreign exchange, infrastructure facilities, etc.
Articles of Association should be prepared and submitted to the examination and approval authority. The examination and approval authority shall reply within 30 days on receipt of the feasibility study report and articles of association.
After the feasibility study report and articles of association have been approved, the applicant shall apply to the examination and approval authority, which shall issue the Approval Certificate within 3 days after receiving the application.
Nanchang WFOE formation step four: Registration with the Administration for Industry and Commerce. The company may then register with Nanchang Administrative Bureau for Industry and Commerce within 30 days after receiving the Approval Certificate and apply for the business licence. Nanchang Administrative Bureau for Industry and Commerce shall issue the business licence within 10 working days to those projects approved by the examination and approval authority of Nanchang. The enterprise is deemed as established on the date when the business licence is issued.
The foreign enterprise may engage an agent authorized by Nanchang Municipal Foreign Economic Relations and Trade Committee to handle its application on its behalf.
Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation-Nanchang WFOE Business Address
A separate business address, located in commercial buildings or locations is required as the official address. One address could be used by one company only.
Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation-Time Required
It normally takes less than 30 days from receiving instructions and full particulars and necessary documents form the applicant to issue the Approval Certificate. Thereafter, the Post-establishment Registration procedures take less than 30 days.
If you have further queries in Nanchang Wholly Foreign Owned Enterprise (WFOE) Formation, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net or www.companies-registry.net or emailing to tannet firstname.lastname@example.org, Hong Kong TEL: 852-27826888 China TEL: 86-755-82143422 NANCHANG TEL: 86-791-88188098
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