Manufacturing WFOE Outline
Business scope of the Manufacturing WFOE covers the production, domestic sales, and import/export license if applicable, which can be invested in the form of both WFOE and JV.
I.Registered capital of Manufacturing WFOE
RMB 500,000 ~ RMB 1,000,000 Different district in Shanghai has different policy for the threshold of capital. If you want to apply for import & export license with VAT refund qualification, RMB 500,000 is recommended.
II.Application procedures:
□Name pre-registration with State Administration of Industry & Commerce (SAMR)
□Preparation of Feasibility Study Report & Get approval
□Preparation of Article of Association & Get approval
□Preparation of Environmental Assessment & Get approval
□Issue of Business License by SAMR
□Public Notice required by SAMR
□Chop made by Public Security Bureau
□Open RMB bank account
□Open foreign capital bank account & Registration of Foreign exchange
□Capital injection
□Company Accounting & Taxation Guide
Timetable: all the procedures will be finished not more than 2 months, business license for 1.5 months
III.Material checklist for Trading WFOE
□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)
□Import & export product list with HS code if any
Note 1: If the manufacturing WFOE is applicable for import & export license, and VAT general tax payer, pls refer to the stage 2 & 3 in FICE WFOE process.
Note 2:CBIZE consultants will check the materials provided by Party A. For the qualified materials, consultants will mark √, the service shall begin only after all these materials are accepted.