Registering a company in Wenzhou (China)

03.01.2024

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Price

from 2700 USD

Registration period in days: 40

If your intentions include incorporating a company in Zhejiang, view Wenzhou Prefecture. It is an urban district in PRC, a city without borders with a inhabitants exceeding 8 mln. It is located in a mountainous locale about 30 kilometers from the coast to the East China Sea, where Wenzhou has an international port. It is bordered by Taizhou and Lishui. Designated language is Chinese. Wenzhou is affiliated to the Zhejiang FTZ (free trade zone).

Vital spheres of financial commitment submission

The region is the monetary, manufacturing, conveyance and cultural centre of East China (Southern Zhejiang) and the centre of purchaser items fabrication.This is why innovators who determined to enroll edibles assembly in Wenzhou or who intend to allocate funds in tourism can expect excellent revenue. It is also possible to institute a company in China in pertinent branches: aids or in the restaurant and hotel business. Many minor and medium-sized manufacturing are situated in the borough.

Primary items for export:

mass-produced fabrics commodities;
pelt and athletics shoes (up to 4,000 foremost firms, including Aima, an exporter to over thirty nations);
igniters (approximately 70% of global production);
spectacle frame manufacturing (a globally significant production location);
sheets;
ceramic and pottery;
basic electronic products.

Additional significance sectors for business:

Gainful for enrolling a corporation within the construction sector in Wenzhou: it is vigorously developing, as evidenced by implementation of various projects (e.g. metro and skyscrapers). As a consequence, property dealings may also be of interest to businessmen who have resolved to create a firm in Wenzhou.
Counselling.
Company enrollment is beneficial in digging/converting, a sought-after sector within electronics fabrication.
Cultivation is well-evolved, with majority of farms operated by sole owners.
Transport & Logistics.
County is characterised by an adequately-evolved monetary sector and adaptable tax. In addition, one of the county's major advantages is that there are no monetary record submission prerequisites for foreign investors wishing to set up an enterprise in Wenzhou.

Read also: Guangzhou (China)

Levy framework
Income tax expense	10-25%
IT registration and software	10%
Setting up a funding enterprise for societal gain aims	12,5% (up to 3 years)
Service business registration	12,5% up to 3 years)
VAT	0-13%;
Wages tax ( individuals)	3-45%

By contacting YB Case for a consultation, you can find out more information on how to quickly enroll a corporation in Wenzhou off-site. The timeframe for establishment may vary, but on average the process takes 1 month. Our experts will advise on how to arrange the indispensable files to enable:

a enrollment MC permit ;
NBK clearance with an attested translation;
unseal a bank account remotely (it is worth considering that some banks require a face-to-face interaction)
enterprise licence in Wenzhou.

Attention, in addition to producing a licence, as well as issuing anID plate, you should also:

Enroll PRC Authority of Commerce and Industry;
authorise MC for export-import transactions and overseas undertakings;
apply to OFER;
receive a credential from IRS;
procure a special clearance from Customs Service.

PRIMARY TYPES IN WHICH MAY GET REGISTERED:

representative office;
a division of an overseas corporation;
Joint Venture;
wholly external owned international enterprise.

In the WFOE option, the procedure for registering is abbreviated. Observe that stakeholders are additionally drawn in by the ease of overseeing this type of business.

ESSENTIAL PREREQUISITES for corporation in 2024:

unique label;
director - minimum 1, of any dwelling;
1+ originators;
administrative assistant - 1;
address;
min. amount of authorised capital depends on OPF and sphere of activity;
keeping accounting records;
inspection
annual filing of accounts.

At what bid can a company start in China?

The yuan renminbi CNY is used. However, if you have decided to start a commerce in PRC, kindly observe, you hold choice to initiate a bank record in alternate exchangeable units.

Conclusion

Forming an organization can be a promising business decision, as China is considered one of the strongest leaders in the Asian market. Incepting a corporation and its subsequent undertakings requires strict compliance with the law. If you need more detailed information on the issue of company registration in China, you can sign up for a consultation on business regulation in the PRC. To do so, contact YB Case, who can not only advise you, but also provide you with a range of necessary support services in the process of establishing a company in Asia.