How can I start a business in Guangzhou?

How do I start a business in Guangzhou?

The procedure for registration of commercial organizations in Guangzhou:

  1. filing a package of constituent documents;
  2. approval of the name in the Chinese Trade and Industry Administration;
  3. a company registration with the Ministry of Commerce of China;
  4. stamp and seal making;

Can foreigners start a business in China?

China allows foreign entrepreneurs to set up a wholly owned limited liability company, also known as a Wholly Foreign Owned Enterprise (WFOE). However, companies can engage only in “encouraged” fields of business activity and not those which are “restricted” or “prohibited”.

How much does it cost to start a business in China?

Fees

Different China entity types Cost Draft invoice
Equity joint venture company US$17,650 View invoice PDF
Subsidiary LLC US$16,650 View invoice PDF
Holding company LLC US$17,650 View invoice PDF
LLC with employment visa US$21,600 View invoice PDF

Can a Chinese citizen start a business?

In fact, there are no restrictions on foreign citizens generally. You do not even need to have a green card to start your business or purchase a corporation or Limited Liability Company (LLC) that is headquartered in the US.

THIS IS IMPORTANT:  Question: What are managerial functions in entrepreneurship?

How do I register a company in Guangzhou?

Procedures for setting up a Wholly Foreign Owned Enterprise in Guangzhou are the following:

  1. Name registration with Guangzhou Administration of Industry and Commerce ( SAIC )
  2. Certificate of Approval by Guangzhou Municipal commission of commerce.
  3. Apply for Business License with SAIC [- -]

How do I open a branch office in China?

PRC law requires a formal registration procedure for opening a branch office. It usually takes at least two months to set up a branch office. And, if the company needs an increased capital for setting up the BO, the added time for the sub-sequential registration process should be taken into account.

How can I open a shop in China?

Process for company setup in China

  1. Apply for name approval and registration.
  2. Rent office space as necessary.
  3. Online registration via MOFCOM.
  4. Apply for a “5 in 1” business license from the local Administration of Industry and Commerce (AIC)
  5. Carving chops for the new company.
  6. Opening bank accounts.
  7. Register under tax authority.

Can you own a house in China?

“There is no private ownership of land in China. One can only obtain rights to use land. A land lease of up to 70 years is usually granted for residential purposes. Foreigners who have worked or studied in China for at least a year are allowed to buy a home.

What is the most profitable business in China?

The 10 most profitable companies on the list are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, Tencent, Alibaba, Ping An Insurance, China Mobile, China Merchants Bank and Bank of Communications, with total net profits reaching 1.74 trillion yuan.

THIS IS IMPORTANT:  Do you need a business license in Kansas?

How much does it cost to open a factory in China?

While there is no minimum capital requirement anymore for opening a company in China, it is prudent to invest a certain amount of foreign capital into the company. 3. The operational cost to open a company in China starts from USD $2000.

Is it cheaper to do business in China?

While the minimum wage and the working standards had increased through the years, China is still relatively cheaper than most developed countries when it comes to manufacturing. … China’s robust business ecosystem, low taxes, and competitive currency practices are some of the reasons why the Chinese market is unmatched.

How can I open a company?

Four major steps to register a company/ startup in India:

  1. Step 1: Acquire Digital Signature Certificate (DSC)
  2. Step 2: Acquire Director Identification Number (DIN)
  3. Step 3: Create an account on MCA portal- New user registration @ mca.gov.in.
  4. Step 4: Incorporate or Apply for the company to be registered.

How do I get a business license in China?

To register in Mainland China, companies are required to apply to the relevant authorities for a business license. This application is usually made at the company’s local Administration for Industry and Commerce (AIC).

Is it difficult to do business in China?

Doing business in China can be a difficult and contentious proposition for companies in many countries. Yet even with charges of intellectual property theft, forced partnerships and tight restrictions on doing business, China continues to attract foreign capital.

What business should I start in China?

Top Small Business Investment Opportunities in China

  • Supply health products. …
  • Ecological environment construction. …
  • Go for import and export trading. …
  • Start a pharmaceutical company. …
  • Skincare companies are soaring high. …
  • Small-scale food production. …
  • Start an internet business. …
  • Direct marketing.
THIS IS IMPORTANT:  How many small businesses actually succeed?