Consulting WFOE/JV Registration Outline
The consulting company refers to Management Consulting Company, Certification Institution, Certification Training Institution, CPA firms, Accounting & Bookkeeping Company, Asset Evaluation Firm, Market Research…which can be invested in the form of both WFOE and JV. Consulting WFOE/JV are qualified to issue invoices. VAT will be charged based on the turnover while Corporate income tax will be charged based on the net profit.
I.Registered capital of Consulting WFOE
RMB 10,000 ~ RMB 1,000,000 Different district in Shanghai has different policy for the threshold of capital
II.General Procedure for setup WFOE/JV Service Enterprise
□Online name pre checking & registration
□Preparation of Article of Association and application forms
□Preparation of Joint Venture Agreement (JV)
□Get pre-approval of Article of Association, and all application docs online
□Issue of Business License by SAMR
□Chops made by Public Security Bureau
□Registration and Approval of SAFE with the bank
□Open RMB bank account
□Open foreign currency capital bank account
□Tax registration
□Social insurance & Housing fund registration
Timetable: all procedures will be finished not more than one months.
III.Material Checklist for Application of Consulting WFOE/JV
□Certificate of parent company's business license should be provided with verification by both local notarization institution & the China embassy (2 pics)
□For individual investors, passport original is needed
□For individual investor who cannot provide original passport or entity investors, Certificate of investor’s ID should be provided with verification by both local notarization institution & the China embassy (2 pics)
□Credibility letters (bank reference letter) from the investor’s bank overseas to declare a good standing. (2 pics)
□The legal representative's passport copy
□Name of the enterprise (above 5 for selecting )
□Three appointment and authorization letters signed by the legal representative of investor for the legal representative, general manager if any.
□Two copies of identification card (or passport) of the board of the directors, supervisor and general manager of new company with signature if any.
□Leasing agreement over one year with copy of ownership certificate (business purpose)
Note: CBIZE consultants will check the materials case by case. For the qualified materials, consultants will mark√, the Service shall begin only after all these materials are accepted.