General Procedures for Registering a Company in China
1. Select an agency
Although the Chinese government providessupport for foreign businesses, the process of registering a company iscomplicated. Entrepreneurs must prepare the necessary documents and understandthe interpretation of company laws. Thus, choosing a professional agency totake care of the entire process of registering a company is recommended. Anentrepreneur benefits from the expertise of professionals who know theintricacies involved in company registration in China when they partner with anagency. Therefore, Bowai is the perfect agency for helping you set up abusiness.
2. Rent office space
An entrepreneur must provide a validaddress proof of the company registration. The authorities will communicatewith the company when they have queries about the company operations.
3. Apply for a name
An entrepreneur wishing to start a companyin China must reserve the business name of the company. The approval for thebusiness name is required from the Administration of Industry and Commerce(AIC). An entrepreneur can also get the name approved through the StateAdministration for Market Regulation (SAMR).
4. Choose company scope
The Chinese government has categorizedbusiness sectors and emphasizes areas that can grow the economy quickly. Thus,learning about the country’s business landscape is recommended by viewing the ‘Cataloguefor the Guidance of Foreign Investment Industries’ and selecting the companyscope. For example: when your business is a manufacturing business, yourventure is likely to be supported heavily by the Chinese administration.
5. Business license
After receiving the certificate ofapproval, an entrepreneur should apply for the required additional licenses.The necessary licenses vary and depend on the industry in which the company isoperating.
6. Register with PSB
The Public Security Bureau (PSB)registration will make a company eligible to obtain the company chops. InChina, company chops are equal to the value of a signature of a company inwestern countries. Without a chop, an entrepreneur cannot validate a contractin China.
7.Open a bank account
After obtaining the required licenses andcompany chop, the company should open a corporate bank account. It must have abank account to operate its business. A Chinese business bank account enables acompany to pay expenses and receive payments and is beneficial when filingreturns.
8.Register with tax authorities
In China, all businesses must comply withthe relevant tax regulations. Thus, all companies in China should register withthe Tax Bureau. A company must comply with various tax obligations.
9. Documents Required for Company Registrationin China
The main documents deeded for company registrationin China are your passport copy, your registered phone number, and your visacopy. Of course there are many other required documents but for many of them,your agency, Bowai company, can help you prepare. They include the approvedname of the business, registered office address, memorandum of association(MOA), registered capital of the company, feasibility study along with budget,and managerial structure.
Bowai Will Help You with the Following
Our Services for Company Registrations isnormally for small-scale taxpayer business without special permission.
Rentoffice space
We cooperate with some governmentInvestment Promotion Industrial Parks in Shanghai or other cities which couldprovide an office address for you to do your business if you do not have anoffice.
Applyfor your company name & Choose company’s business scope
Before we submit your application for yourbusiness license, we need to reserve a company name and select company’sbusiness scope for yours. Confirming the name will take about 3 working days.
Applyfor your business license and company chops
It will take 1 week for us to get the hardcopy of your business license. Then we will help you apply for company chops, financial chops and director's chopsfrom PSB. This will take 2-3 days.
Opena bank account
You could authorize us to open a bankaccount with the office provided by us from government Investment Promotion IndustrialParks. It will take 2-3 days.
Registerwith tax authorities
We will register with tax bureaus for youas well.
