1. Preparation, name approval and proposal
You need to start by producing a project proposal, and get an name approval to be submitted to the local government. If approved, go to register the company name and if you choose a trademark.
2. Feasibility study
You are supposed to prepare a feasibility study this includes markets study, planed capital, planned site, equipment, technology, environment protection, raw material sales and purchases, and so on, to be submitted to the local government, or the Technological Renovation department for assessment and authorization. Prepare other legal documents such as articles of associations.
3. Certificate of approval
After the feasibility study is permitted, you can submit the articles of associations to the Ministry of Commerce or local trade and economic bureaus for examination and approval. When the approval is given, a certificate of approval will be issued.
4. Business License
After getting the certificate of permitted for the set-up a company, you need to apply to the industrial and commercial department for registration of a business license. The date of the license is the date of the establishment.
WFOE or Wholly-Foreign-Owned Enterprises
If your business wishes to establish a subsidiary or a totally new corporation in China which is fully owned by you or by your company, you can assign a competent agency to complete all the process of request and approval of a WFOE in China. There are a lot of bureaucratic steps to take. They are all off cause in Chinese from request for setting up a foreign enterprise in China; to propose the articles of association and relevant legal documents to a responsible trade and economic department. If an Foreign Invested Enterprises is approved by local authority depends on the government departments. If granted, the local authority will issue a certificate for the wholly foreign owned enterprise. When you have a business license, you have to go through relevant registrations, such as opening up a bank account for both Chinese and foreign currencies, tax registration, customs registration, foreign currency registration, business inspection and recruitment procedures.
List of Documents to be submitted for Company Registration in China
1 JV or Joint Venture
The following documents should be submitted to the commercial authorities in setting up a joint venture.
a) Application form for reporting for record for setting up a foreign-funded project;
b) Lease of where the company will be registered
c) Contract, agreement and articles of association;
d) Notification of approval for name registration;
e) Name list of the board of directors;
f) Business licenses of each party;
g) Evaluation license procedures related to city plan, land usage, environment protection and water resources and flood rotection;
h) Project application report;
i) Other documents promulgated by laws and regulations;
j) The different government departments might require additional documentation.
Aside from those projects proposal and feasibility study that must be handed in according to law and regulation, the confirmed documents for projects proposal and feasibility study shall be cancelled, and feasibility study will be reported for record by approval authorities.
2. Wholly Owned Foreign Enterprise (WOFE)
The following must be submitted to the authorities when registering a wholly foreign owned enterprise.
a) Application for starting a wholly foreign owned enterprise;
b) Articles of association of wholly foreign owned enterprise;
c) Approval for name registration;
d) Certifications on the foreign investor's legal status and financial &credit standing;
e) Project application report;
f) Evaluation license procedures associated to city plan, land usage, environment protection and water resources and flood protection;
g) Other documents promulgated by laws and regulations;
h) The different government departments might require additional documentation.
by Toby Rosenthal
