The Ultimate Guide for China WFOE Formation in 2018 +86-020-2917 9715 proposal@set-up-company.com This Ultimate Guide for China WFOE Formation in 2018 is designed to resolve any doubts you may have in setting up your business in China. China WOFE is the type of company foreign friends are most eager to know before they set sail their business in China, whether you are in Guangzhou, Shenzhen, Foshan, Shanghai, Yiwu or any other city in China. New friends who start to carry out business in China are always highly encouraged to start WFOEs by their peers who have had Chinese entity registration experience.
Why? Today Business China will give you a detailed explanation via this guide. In addition, we will cover the following main points:
What is a China WFOE?
What are the main categories of a China WFOE?
Which industries are suitable and which fields are unbefitting for a WFOE registration?
Why does everyone recommend you to set up a WOFE in China? What ubiquitous advantages does a WOFE have? What are the advantages and disadvantages of a WFOE when compared with other types of companies?
Some misconceptions about WOFE
WOFE registration process
Registration requirement of China WFOE
Main Tax for China WOFE
Different Tax Returns Filing Date of China WFOE
China's new rules on WOFE
What’s the impact of the newly issued rules on the coming WFOE registration?
How will previously registered companies be affected by the new rules?
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What is a China WFOE?
A China Wholly Foreign Owned Enterprise is a limited company with shares entirely possessed by foreign investor(s). It is also known as a LLC, wholly owned by foreign investor(s) in China. In other words, foreign investors can generally be subdivided into foreign individual(s), foreign companies, Hong Kong companies, andMacao companies. These foreign identities can register their limited liability company in China without the interface of their counterparts in China. In short, foreign friends can roll up their sleeves and chase their business dreams directly in China. China WFOE is applicable to almost all industries, except some industries monopolized by the state. For example, no foreign investor is allowed to invest in the geodetic surveying or marine charting filed in China. For a detailed introduction of China WFOE, please see here: https://en.wikipedia.org/wiki/Wholly_Foreign-Owned_Enterprise
What are the Main Categories of a China WFOE?
A China WFOE can be roughly classified into:
China Trading WFOE
China Consulting WFOE / China Service WFOE
China Technology WFOE
China Food & Beverage WFOE
China Manufacturing WFOE China WFOE types, to some extent, indicate the major business products and categories of the specific industry. Let me further explain here. For example, a China Trading WFOE can import and export franchise brands, distribute products inside of China, open an E-commerce store, apply for export tax refunds, and deliver related consultation services. A China Consulting/Service WFOE could cover many diversified consultation fields, such as management consulting, engineering consulting, technical advisory, education consulting, technology consulting, headhunting service, and training service…etc. A China Technology WFOE could conduct technical development, consultation, and transfer…etc.
A China Food & Beverage WFOE could engage in fruit and vegetables, pre-packaged food, agricultural and sideline products, frozen food sales; flour products, cooked food, frozen drinks and edible ice, nutritious food, starch and starch products, sweets, chocolate, cakes, bread, biscuits, and other baked goods; dairy production and marketing; consultation on food processing technology and transfer of food production technology‌ China Manufacturing WFOEs mainly engage in the production and sale of industrial products‌