1. THE CONCEPT OF WFOE
WFOE stands for wholly foreign owned enterprise, which is a limited liability company wholly owned by either a foreign legal entity or a foreign natural person. The foreign investors may be foreign enterprises or individuals from Hong Kong, Macau, Taiwan or overseas.
Shareholders, directors, monitor and legal representative should be considered and arranged before the business setup.
1. A shareholder could be a legal person (foreign company) or a natural person (individual).
2. A director could be acted by a foreign person or a Chinese person.
3. A monitor should be appointed to supervise the company’s operation and management. A monitor could be acted by a foreign person or a Chinese person.
4. A legal representative is a person in charge of corporate operation, management and development, responsible for all the legal affairs arising from the running of the business. The position could also be held by non-shareholder or non-director.
3. BUSINESS SCOPE
The WFOE can conduct business within its approved business activities described on the business license. We will help you for more business activities during the application. Amending the business scope requires further application and approval. Generally speaking, different business activities are confined according to different business sectors
4. BUSINESS FOLLOW-UP
We can provide a series of business follow-up services such as monthly bookkeeping and tax return, annual return services, internal auditing, financial planning and tax layout, China policy & market study. Other services include domain name registration, webpage design, website promotion, China trademark registration, Work Permit, Residence Permit, etc. in order to pave a smoother and wider way for your China business success.
5. PROCESSING PERIOD FOR WFOE
Around 50-80 working days to finish the processing after we get required documents ready.
6. Advantages of register the WOFE :
-Can apply residence permit
-It's able to operate its own business;
-Enjoy the profits on its own without sharing it with other co-operators;
-Accept RMB as profits and issue invoice.
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