What processes need to complete a registration and how long will it take？
The processes and timing could be found as below:
No. | Government body | Process & Target | No.of working days |
1 | Market Supervision Administration of Shenzhen Municipality (MSASZM) | Get company name approval | 3 |
2 | State Bureau of Quality & Technical Supervision (SBQTS) | Get pre-number of Organization Code | 1 |
4 | Housing administrative office | Get formal lease for office | Depends on |
3 | Bureau of Trade & Industry (BTI) | Permission approval of doing business in Mainland | 30 |
5 | Market Supervision Administration of Shenzhen Municipality (MSASZM) | Apply for Register Certificate or Business License | 5 |
6 | Police Office | Apply for EFOE Seal | 2 |
7 | Seal-carving company | Making company seal | 1 |
8 | State Bureau of Quality & Technical Supervision (SBQTS) | Apply for certificate of Organizatiion Code | 2 |
9 | Local Taxation Administration (STA) | Local Taxation Register | 1 |
10 | State Taxation Administration (STA) | State Taxation Register | 1 |
| Total working days | | 51+ |
The above 10 steps are involved within a WOFE registration service.
A representative office is similar to a WOFE. Please contact us for more specific regarding to Representative office’s registration.
General case could be completed within 60 days. However, there are two issues may out of our control:
1. If it relates to environment protection testing, such as for a manufacturing factory.
2. Time to find an office. Some of it might be easy; the other might take longer time.
b. What documents need to be prepared for an investor or investors? What are the prior documents or issues need to be considered:
Two main documents need to be prepared from investor:
1.Original notarized copies of investor. If the investor is an individual, the notarization is subjected to the individual passport; if a foreign entity applied, then its business certificate and related registration documents are required to be notarized.
2.It might also extend to recent financial report.
3.A bank reference letter from the investor’s bank.
For more all documents need to be collected for whole registration process, please contact us for more specific as these could differ from policy updates and the entity’s characteristics.
Following three things could be considered earlier to get registration process started:
1. Rend an office and have formal lease or other solution to have a registry address
2. Name of the company
3. Feasibility report is required to certain industries based on the guidance of foreign investment. If the registration case falls into a start with a Feasibility Report, industrial background and financial project are essential parts.
c. What will be collected when the process completed?
As a completion signal, a folder that keeps all the certificates or official documents, seals, IC card etc. with a clear list on the front page will be passed to the responsible authorized person from our client.
d. How to follow up the compliance tasks after an entity established?
First of all, consider if it is necessary to form a financial department, a full-time financial staff or shared headcount internally for financial and entity compliance tasks. Also you could consider to totally outsourcing any not operating related tasks to a 3rd party, as WealthSharings.
Either of above schemes, we have matched service solution for it.
Following matters shall be concerned after entity registration:- -
1. Open a bank account and process capital injection;
2. Set up an outsourcing service agreement to maintain the company to comply with local regulations, including tax filing per required period and book keepings.
3. Build up communication channel with head office or investor appointed party.
