A WFOE is the best solution to start a business in china and it can implement your global strategy independently. More and more foreign inverstors are likely to get a WFOE registered in China to start their business in China.
Setting up a WFOE is a little bit time consuming process and you had better hire a law firm or consulting company help you incorporate a WFOE in China.
General procedures you can refer to:
- Name Approval
- Investing Approval certificate from China foreign investing Committe
- Apply for business operation license from China Industry and Commerce Administration
- Obtain organization code (company ID)
- Obtain Tax ID
- Obtain Statistics ID from statistical bureau
- Obtain Financial registration number
In order to complete each procedure, you will need to submit different documents to various departments. So, hiring a good law firm or registration agent is very important. You can refer to the following chart to understand WFOE in China