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Starting a business in China
Is the video i got asked the most about on my instagram, linkedin, email and more and I understand it. You feel SOOOOO uncertain when it comes to those things. But don’t you worry, Dettmar got your back!
1. legal representative passport information page – COPY
2. register capital amount:
* • normally a foreigner invested company registered capital amount: 1 million RMB
* • at least cover 3 years’ operation expense
* • according to the newest Chinese law, NO NEED money injection to the company bank amount, it’s just a number on the business license
3. business scope:
4. the investor company’s business license – COPY
5. the investor company’s business license has to be issued with Notarial Certificate by lawyer or your country’s embassy;
6. passport copy of all shareholders of the investor company
7. company name in Chinese:
* • For the Chinese company name, the laws say you CANNOT have the same name with others (even pronunciations), so you’d better brainstorm with your Chinese friends.
* • Highly recommend you give as many names as you can if you failed the company name checking process, takes another 5 working days to restart the whole process.
the agency can help with that
8. supervisor(can be Chinese) passport information page – COPY
9. accountant’s ID – COPY she/he have to certified with “会计上岗证” Chinese certified accountant and have to be a Chinese
10. fill in the COMPANY SET UP application form – EVERY ITEM have to be filled in
FAQ
How much does an accountant cost?
Around 1000 rmb
Do i need an office?
Both alternative you get an office/post box
When is actual physical presence required?
only you accountant
Are there any hidden extra charge? NO!
How do I send invoices?
Its called Fapiao
People are using Stamps/chops
Three stamps are needed:
1. Personal name one
2. Company Chop
3. Tax chop
VAT
About 3 % tax
About 10 income tax
How long time does it take?
Two alternative:
one that’s cheeper that takes 6 weeks
One thats a bit more expensive that takes about 10 days.
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