Documents required for wholly foreign owned enterprises (WFOE Shanghai)

The "foreign funded enterprises" refers to individuals from overseas invest and set up company in China, contain three types as Sino foreign cooperative ventures, Sino foreign joint enterprises and wholly foreign owned enterprises(WFOE shanghai ). Foreign funded enterprises engaged in big business activities who are necessary to abide by China's pertinent laws and regulations is to put into practice the sovereign accounting, self financing economic entities. China's current legal rules and regulations also have tax benefits for foreign invested enterprises.

Submitted Documents:

The establishment of foreign funded enterprises in China, overseas investors have to submit the documents include:

·        Signed by the officially authorized representative for "Registration request of Foreign Investment Companies Formation"

·        The approval papers of approving authority

·        The company's charter permitted by approval authority

·        "Pre approval Notice for venture Name"

·        Subject qualification documentation of investor or identity of natural individuals

·        Appointment and a duplicate of proof of identity of authorized delegate, directors, supervisors and managers

·        The capital confirmation certificate issued by a legitimately capital verification establishment; applicable to the economic, securities, insurance as well as fund management companies, and conventional pay all or part of the registered resources of the company.

·        Non-monetary possessions as the first time funds of the shareholder, the author has handled the papers of the property transfer procedures. Funded by the shareholders of equity, have to be submitted to the equity financed asset signed by the equity of contribution undertaking equity company trade license (have got to be stamped with the stamp of the equity firm)

·        Residence documents

·        Pre approval papers or certificates; appropriate to the business extent of laws, administrative rules and the State Council determined the project business regulations have to be submitted for authorization prior to registration.

·        Legal documents power of attorney

·        Other relevant documents.

Wholly Foreign Owned Enterprise in Shanghai– A Way to Increase Your Business

In the today’s era of globalization, one has to keep his ears and eyes open in the way to meet with the demands of the customer and to thrive in this competitive world. Organizations have to work according to his goals in this changing working environment. They have to consider what will be the best option for them to increase their business; doing operations within the same domestic markets or to cover global market by setting a WFOE in foreign country. You can also set a wholly owned foreign entity in shanghai to utilize the several benefits associated with it.

Wholly foreign owned enterprise is a type of limited liability Company which is established by the foreign entity. It’s getting hype in shanghai among all the other preferable modes of business presences.  The main reason behind the success of the wholly owned foreign entity is whole control of the foreign entity over the operations without any interference of the local person from shanghai.

 It has proven as a great mode to increase efficiency in operations and getting benefit of several activities such as complete protection of intellectual property rights, full control in human resources and numerous other activities for those organizations that have a dream to increase themselves.  In shanghai,  while registering as a WFOE you needs to comply with various norms provided by shanghai authorities, some of them are, approval related to business purposes, minimum registered capital, taxation and a lot more. 

Undeniably WFOE Shanghai does have the power to add on the sales and revenue of the organization. 

 

Role of WFOE shanghai law firms in China

Most of the lawyers in china work for law firms that are a wholly foreign owned enterprise which is mainly known as WFOE. WFOE Shanghai-Attorney law firms work on the principle of common investment for mainland China based businesses in which corporate from abroad can incorporate an internationally owned limited liability company as involvement of a mainland Chinese investor is not needed. However, you don’t get that much of support from Chinese government when we compare it with local companies. Considering that this is not the case in every country for a company that is being mainly financed from abroad.