Guangzhou is an ancient port city with a population of over 14 million people, an administrative center of Guangdong Province, located northwest of Hong Kong on the Pearl River. Neighboring with Hong Kong and Macau. It is the economic, a cultural, the industrial, a political, a scientific center of South China.
- A profitable destination for registering a company in Guangzhou is tourism, thanks to Guangdong Box Museum, Two Pebbles Opera, famous Canton Tower in the shape of an hourglass, and Chen Clan Temple Complex.
- A production of light industry (food products, a paper, textiles), a chemistry, machine, the shipbuilding, a metallurgy, a fishing has been developed.
- It is productive to register a company in Guangzhou in construction: it is built up with skyscrapers.
- Big profits come from establishing a commercial firm in China in the electric power industry.
- It is advantageous to establish a trading company in Guangzhou or to open a transport company in Guangzhou because of an open port;
- In the trend to register a consulting firm in China.
Registration of a firm in China (Guangzhou) is beneficial for several reasons:
- Guangzhou is part of a special economic zone in the Pearl River Delta;
- a steadily developing infrastructure;
- a high standard of living;
- one of the largest production centers in China;
- it is a member of the largest industrial conglomerate Pearl;
- the participation in the CIEF trading platform;
- the availability of DTA agreements with 50 countries of the world;
- a convenient tax system in order to open a company of any orientation in Guangzhou:
A corporate tax
A corporate tax in the IT sector
Investment projects in Guangzhou in the field of water supply
12,5% (for 3 years)
Investment projects in the field of energy conservation
Investment projects in the field of ecology
In the field of education
5% of VAT
7% of VAT
up to 10%
A stamp duty
The income tax (individuals)
The main legal forms, in which you can establish a company in Guangzhou:
- WFOE (a company with 100% foreign capital);
- JV (Joint Venture) - with a limited liability;
- A limited liability companyof one shareholder;
- RO (a representative office).
The first two options are the most successful ones to register a company in China.
To set up a commercial company in Guangzhou, you will need to fulfill the requirements:
- register a unique name;
- focus of the company (goods/services);
- a minimum number of founders is from 1;
- the office and a secretary are required;
A minimum authorized capital*
- To register a company in the service sector in Guangzhou costs 300 thousand CNY (about 43 thousand USD);
- To open a trading company in Guangzhou costs 1 million CNY (more than USD 150 thousand).
* In China, there are no strict time limits for the payment of capital by charter, and for ordinary industries, capital is required for the duration of the company.
It is mandatory to provide accounting data and conduct an audit in the company in this jurisdiction.
The procedure for registration of commercial organizations in Guangzhou:
- filing a package of constituent documents;
- approval of the name in the Chinese Trade and Industry Administration;
- a company registration with the Ministry of Commerce of China;
- stamp and seal making;
- submission of licensing documents to the People's Bank of China to open an account with Guangzhou Bank without/with a personal visit.
BODIES GOVERNING THE ACTIVITIES OF COMPANIES:
- Currency regulation department;
- Tax service (obtaining a certificate of registration);
- Customs authorities (obtaining a certificate of registration, registration form for quality control, inspection and quarantine, access to E-Port);
- Commercial and Industrial Administration (obtaining a business license/EIN);
- Ministry of Commerce (registration of an international trading company).
For receiving qualified assistance in preparing necessary documents for registration in Guangzhou and competent individual advice on opening an account in Guangzhou contact YB Case team.
Please, check with our specialists for possible solutions for your business.