As we may assist foreign investors to establish presence in China through a number of corporate structures, for the purpose of this proposal, we would focus on the establishment of a wholly foreign-owned enterprise (“WFOE”) in China. In order to meet all compliance requirements, the following steps and procedures shall be completed:
- Obtain filing receipt from local department of commerce;
- Have WFOE´s name pre-approved by the State administration for Industry and Commerce;
- Obtain approval on WFOE’s establishment from competent authority (only applicable in certain industries);
- Prepare and file articles of association;
- File notarized and authenticated certificates on identity of the foreign investors;
- Appoint WOFE’s legal representative, director(s), supervisor(s) and general manager;
- File meeting minutes of the said appointment and certificates on identity of the appointed legal representative, director(s), supervisor(s) and general manager;
- Establish the initial registered office address and file corresponding supporting documents;
- Issue a Power of Attorney for deputizing local personnel to complete filing procedures with competent authorities and sign relevant application forms on behalf of the WFOE for the purpose of incorporation;
- Apply for qualification to open a foreign currency bank account with local administration of foreign exchange and open such account at the designated bank;
Our firm has a major focus on all aspects of corporate matters. We would be happy to collaborate with you on completion of establishment registration as well as other aspects of corporate compliance.