Businessmen planning to register a company in Asia often look to China. Not surprising, because at the moment, this state is the undoubted leader of the Asian region. Moreover, the world’s second-largest economy today, China is on course to pass the U.S. as the biggest economy on the planet.
Registering a company in China makes it possible to reach a completely new level of income. Having set a goal to establish a business in this country, seek help from competent specialists.
Brief information about the jurisdiction
- The People's Republic of China (PRC) is an East Asian state. It is part of the G20 and the WTO.
- Capital: Beijing.
- Language: Chinese.
- Currency: Chinese Yuan.
Developed sectors of the economy: industry, agriculture, foreign trade, tourism, financial sector. The country has made significant developments in increasing the direct investment and governing the innovation market.
To register a company in China, you need to decide on the organizational and legal form of business. The most popular are a joint venture or a firm with 100% foreign capital.
To register a Chinese company you will need to:
- choose a unique name for your future company;
- obtain a Certificate for the right to conduct business;
- prepare a package of documents for opening;
- describe the firm’s future activities;
- draw up the Charter;
- open an account for a company in China;
- to contribute the authorized capital, the amount of which depends on the type of activity of the company. An important advantage is that it can be paid in installments over thirty years (the term of the company).
The period for registering a company in China is longer than in European countries and takes more than two months.
Taxation in China
- Corporate tax is: 25%.
- VAT: 17% (simplified rate: 4%).
Having decided to register a company in the PRC, all the conditions of the Regulator must be carefully observed. Government agencies of China strictly monitor the implementation of all requirements.
Maintenance and monthly submission of financial statements are mandatory, audit is also a prerequisite.
How to register a company in China
The process of organizing a business in this state is rather laborious and lengthy. In order to remotely register a company in China, contact the experienced specialists of IQ Decision UK for assistance at all stages of registering a company in China.