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Blog 2018 WFOE In China Checklist [Free Download]

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2018 WFOE In China Checklist [Free Download]

by Bobby Lee | 18 May 2018

 

WFOE formation in China is bureaucratic, time-consuming, and involves complex Chinese language documents. While we cannot change the system,  we've created this simple checklist in plain English that you can use to assure that you've gathered precisely the documents required for a smoother, faster, registration process.

It's a free download, so if you're considering opening a Chinese company, get your copy here...

Get Help To Open Your WFOE In China Straight From Our Experts

We know how much of a grind it is. 

The complex rules, different laws, and pressure to gather all kinds of documents from multiple sources are a real source of stress for anyone who's trying to open a Chinese company.

The language barrier alone is quite formidable, because official documents in Chinese always require a native level of language skills to understand and complete.

While we're not saying it's impossible for foreigners to open a wholly foreign owned enterprise of their own without local help from business experts, it's going to be really hard; and if mistakes are made (such as submitting an incorrect document, or missing one out, by mistake), this can set back the company registration process by weeks or even months, costing you even more money and time!

This is why, regardless of whether you decide to work with Hongda to open your company or not, we've created an up-to-date 2018 WFOE checklist (created May 2018) for you to use to guide you through the process.

Hongda 2018 WFOE checklist

 

What's in the 2018 checklist?

Making everything clear is our goal!

This checklist can be kept on your device as a PDF for you to refer to whenever you like, or printed off and used to tick off the documents as you have obtained them.

It includes:

  • The documents you require and in which format (includes company documents, personal ID documents, and documents you'll get only in China)
  • The stages of the process so you understand what happens and when
  • Additional notes and tips from our experts to help you have a smoother application

It's all in plain English, so whilst the process itself is in Chinese, you will still understand what is happening and what is required.

It will also help you to get your company registered as fast as possible by avoiding costly mistakes, which has the added benefit of letting you get down to business in China even faster!

 

Unsure If A Wholly Foreign Owned Enterprise Is Right For You?

benefits of a wfoe

In short, a WFOE gives foreign investors:

  • Parity with local companies
  • The ability to import and export (depending on business scope), and trade in China
  • The right to employ local and foreign staff legally
  • The ability to invoice in RMB
  • Permission to remit profits home in USD
  • ...and much more

We already have loads of information that can help you to decide which company to open. Hit the links below to explore.

Mulling over which company type is right? If you're still on the fence about whether to open a WOFE or a different company type, such as a representative office, or joint venture, read this blog post.

Want to know the benefits and drawbacks of a WFOE? They're all outlined here for you.

How much does opening a wholly foreign owned enterprise cost? Read here.

 

Risks When Opening A WFOE

You need this checklist to help get the process right. If going it alone without any guidance you may:

  • Submit the wrong or incomplete documents, resulting in delays to opening your company (bear in mind that you need to rent an office space before forming the WOFE, so you'll be paying rent no matter whether you can trade or not)
  • Have to fly to China more than once to sort out the process (extra costs again)
  • End up needing to change certain company information. For example, if the company is formed but you realise that you need to add a certain scope of business, until that has happened you may not be able to conduct key business legally (making changes to the company's registration documents takes more time and money) 

 

Let's Get You Your Checklist

Ready to get your checklist? Just hit the button below, fill out a simple form with some information about you and your email address so we know where to deliver the PDF to, and then just sit back as it will magically appear in your email inbox in moments:

Hongda 2018 WFOE checklist

Topics: Setting up a WFOE In China

Bobby Lee

Bobby Lee

Senior consultant at Hongda Business Services

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