This document outlines the basic requirements and steps required to open a Wholly Owned Foreign Entity (WOFE) in China. The legal definition is Limited Liability Company (有限责任公司).
A Wholly Foreign Owned Company (WOFE) has the advantage of perform business transactions in CNY and exchange profits into USD. It can be expanded to have import/export rights . . . → Read More: Incorporation of WOFE in China
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Executives unfamiliar with managing businesses in China will need to become familiar with the use chops or seals instead of signatures. Chops, an old custom from imperial times, may be a little confusing in the beginning and can be perceived as unsafe. However, used properly, chops can be an important tool for financial and . . . → Read More: Chop it! The usage of chops in the Chinese business environment
For manufacturers, ensuring the stability of your operation means getting solid infrastructure in place, and for most manufacturing that means power. Before you flip the switch on your China facility take some simple steps to make sure that you have access to the power that you need.
Although China’s electrical grid has improved in recent . . . → Read More: Planning for Power Consumption in China
If you have attended a China related seminar, conference or even trade-show then you have probably been approached, surrounded or bombarded by consultants of all colours, language and education background – all claiming to have the best solution for you ranging from China entry, licences, registration, sourcing and negotiations to business plan and market research. . . . → Read More: How to Get the Best Value from Your China Business Consultant
Successfully setting up a company in China requires knowledge and planning in a number of areas. These will be different depending on if you wish to source products or services from China or plan to market and sell your own products and services on the Chinese market.
Here are the essentials:
1. There are a . . . → Read More: The Essentials of Company Set-up in China