Undoubtedly, China is one of the fast growing countries were establishing your own business is not an easy task. Not only you need to apply for various business licenses but also look for the many things that can make this entire procedure quite complicated. Here's how to start and grow your business in Shanghai and what kind of license you will be required for your business?
Whether you are an enthusiastic entrepreneur or company -appointed agents assigned to browse the Chinese foreign investment market, you both have a common goal to establish a foreign business entity in China. You may have sufficient funds a solid supporting overseas business, an exciting business plan, but what if you don't have the license for running a business in China? To avoid all these circumstances, it is important to understand how foreign investors can set up a company or expanding their business into China.
1. Do Your Homework
If you are planning to get enter into the Chinese market and want to grab the attention of the potential buyers, then your first step is to understand the procedure of establishing the company in Shanghai and what important things you will be required to submit while applying for the license or registering your company. Talk to people who have opened an office in Shanghai. Ask them about their success stories and how they succeeded or failed in the market.
2. Pick A Location
At this point, you have an entire country at your disposal, but you can't set your business down just anywhere and expect to be successful. First, get to know about the prime locations of the Shanghai that perfectly fits your business type and budget too. Also, you need to keep these few points in mind while choosing the location:
●What are your transportation needs?
●What are your logistical needs?
●Are you relying on goods that may be imported to china? If yes, then how can you get the goods from the port to your location?
3. Choose The Entity Status
Before you register with the government, you need to decide what type of business entity to register. The most common for foreign businesses are joint ventures, representative offices and Wholly Foreign Owned Enterprises (WFOE Shanghai). And each type of entity has its own pros and cons.
Once you set the priorities, you can go ahead for applying the business license to get your company registered with Shanghai Government.
1. Do Your Homework
If you are planning to get enter into the Chinese market and want to grab the attention of the potential buyers, then your first step is to understand the procedure of establishing the company in Shanghai and what important things you will be required to submit while applying for the license or registering your company. Talk to people who have opened an office in Shanghai. Ask them about their success stories and how they succeeded or failed in the market.
2. Pick A Location
At this point, you have an entire country at your disposal, but you can't set your business down just anywhere and expect to be successful. First, get to know about the prime locations of the Shanghai that perfectly fits your business type and budget too. Also, you need to keep these few points in mind while choosing the location:
●What are your transportation needs?
●What are your logistical needs?
●Are you relying on goods that may be imported to china? If yes, then how can you get the goods from the port to your location?
3. Choose The Entity Status
Before you register with the government, you need to decide what type of business entity to register. The most common for foreign businesses are joint ventures, representative offices and Wholly Foreign Owned Enterprises (WFOE Shanghai). And each type of entity has its own pros and cons.
Once you set the priorities, you can go ahead for applying the business license to get your company registered with Shanghai Government.
