The best directions to register a company in Shanghai:
- A finance. Such banks as Bank of Communications and Shanghai Pudong Development Bank top China's profitable business ranking. YB Case recommends opening an account in Shanghai in these banks.
- Priority areas are also automobiles (well-known manufacturers are Shanghai General Motors, Shanghai Volkswagen, SAIC Motor,) and the insurance (China Pacific Insurance).
- Metallurgical plants (Baostee, Baoshan Iron & Steel).
- Pharmaceutical products (the most powerful representatives of this field are Fosun International, Sinopharm Group, Shanghai Pharmaceuticals).
- A real estate, the construction of unique high-rise buildings with restaurants on the roof, the construction of high-rise architectural forms, that make the city recognizable. The industry leader is Shanghai International Port, and the airline is China Eastern Airlines).
- A food production (Want Want China).
- Services, a hotel service.
- The gardening of housing estates.
- A consulting and the organization of medical forums and conferences.
- Electronics (a production of semiconductors SMIC, factories LG Electronics, Inventec).
- A mechanical engineering and a special equipment (Shanghai Zhenhua Heavy Industries, Shanghai Electric Group, Sandvik).
- Petrochemicals (Bayer, Henkel Group, BASF, Shanghai Petrochemical, DuPont, Huntsman, UOP).
- Gadgets for communication (Nokia, Ericsson).
- Various devices for medical centers (the most famous is Covidien).
- The production of paper products.
Please note, that YB Case provides personal legal advice on starting a business (registration of organizations in the jurisdictions of Europe, America, Asia, China and others).
Shanghai is a largest city in China, a world center of a trade and a finance, and the largest port in the world, located in the middle of the Chinese coast. Along the Huangpu River, a futuristic view of the Pudong area with the pink Oriental Pearl Tower and the recognizable Shanghai 632-meter tower opens up.
An official language is Chinese (the population prefers to communicate in Shanghai). A production and the technology are more developed in Shanghai (compared to Hong Kong). Over the past 27 years, Shanghai's economic level has increased by 10% each year.
The Shanghai Stock Exchange is the largest trading platform in continental China. It is one of the leading Asian exchanges. The Futures Exchange is one of the largest commodity markets in China.
In the jurisdiction, activities are zoned to over 30 sites, among them are: a free trade zone (SFTZ), the economic and a technological development zone, the export, industrial and innovative technologies, a recreation, etc.
Having decided to register a company in Shanghai, you will need to pay the following taxes:
A profit tax rate for companies in the field of innovation and IT
A profit (common for most companies)
A profit for social enterprises (providing the population with a gas, a water, the electricity, etc., and rationalizing these resources)
12,5% (first 3 years)
A rental property tax
A private property tax
Shanghai legal form: what form to choose, to register a commercial organization in Shanghai?
If you are interested, in what legal form it is possible to register a company in China remotely, then pay attention to the list below:
- The dominant form for foreign investment is WFOE, that is, the ability to register a Chinese company with 100% foreign capital.
- A Joint Venture;
- R.O. - a representation of a foreign company;
- Entrepreneurs of Chinese residency choose to register an LLC company in Shanghai, either
- A Limited Liability Company (1 shareholder).
It is possible to establish a commercial company in Shanghai, subject to the following requirements:
- The name of the company, which is not used by anyone, of 4 words, must be reserved in SAIC. The words “China”, “International”, “Sino” can be used under a license.
- A founder is an individual/legal entity (at least 1);
- A director - at least 1;
- The minimum authorized capital is 30,000 CNY;
- A supervisor (a secretary) is required;
- It is necessary to register a company in Shanghai at a legal address (an office can be rented);
- The audit and a financial report served annually.
How to register a business in China? The following steps must be completed:
- initially, we recommend you asking personal advice from the international expert of the company YB Case. If you wish to register a company in Shanghai, our team will provide you with a complete set of support services;
- to submit preliminary documents (before legalization);
- to register the trade name in China;
- to issue a certificate of registration;
- to order prints;
- to obtain a license from the National Bank of China;
- to open a corporate account with a bank in Shanghai (you must personally visit the jurisdiction);
- to register the EIN in China.
In order to register companies in Shanghai (China), it is necessary to register and receive documents in such instances:
- Commercial and Industrial Administration;
- Ministry of Commerce;
- Currency regulation department;
- Customs Service.
Please note: with a professional assistance of qualified YB Case staff you can set up a company in China remotely!
Please, check with our specialists for possible solutions for your business.