Documents Required & Registration Procedure of WFOE
Documents Required
The documents required for setting up a WFOE are listed below:
01 Copy of Business License of parent foreign company which was certificated by Chinese Embassy (if it’s personal investor, then passport copy certificated by Chinese Embassy is enough)
02 The lastest annual audit report from the parent foreign company. The audit report should be in the format as prepared by a Certified Public Accountant (CPA)
03 2 Credit letters from foreign company banker to declare a good credit within at least current 6 month
04 The resume, copy of the passport and 8 pieces of passport size photos of the Legal Representative of the WFOE
05 The parent company’s legal representative’s passport copy
06 Business scope and how long the WFOE is going to do business in China
07 Brief introduction of the foreign investor(s) including name, address and telephone number
08 Total investment and registered capital and the make up of investment
09 Registered address, leasing contract, certificate of real estate, and certificate for leasing ( We can provide free virtual address for the registration upon your request, no need to rent an office in advance)The above document is enough to register a Trading & Consulting WFOE, But if you want to register a Manufacture WFOE, you have to prepare following extra documents:
01 Purpose and estimated investment
02 WFOE’s operational structure and number of employees
03 Permission for land use, environment evaluation report
04 Products, size of production, detailed list of equipment, and business plan
05 Environmental protection measures
06 Requirement for utilities such as power and water supply
Registration Procedures
Foreign companies are not allowed to directly submit the application documents to the relevant authority. They must retain a PRC entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authority on behalf of the foreign enterprise. Procedures to set up the Wholly Foreign Owned Enterprise in Shanghai are as following:
01 Check and Register Company Name (about 3 days)
02 Apply for Approval Certificate (about 15-30 days)
03 Apply for Business License (about 15 days)
04 Apply for Organization Code License (about 1 day)
05 Register in Shanghai Tax Bureau (about 15 days)
06 Open a RMB bank account (about 3 days)
07 Register Foreign Currency Certificate (about 1 day)
08 Check the registered capital (about 5 days)
09 Obtain Import/Export license and VAT invoice (Optional, Only for Trading WFOE, about 1 month)
10 Register in the shanghai custom (Optional, Only for Trading WFOE, about 5 days) Register WFOE
