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QianHai Company Setup In Shenzhen

What is QianHai, and why your service, IT, finance, or logistics company benefit from being there.

What Is Qianhai?

Established in 2010, the “QianHai Shenzhen-HongKong Modern Service Industry Cooperation Zone” is an area to the West of Shenzhen created to enhance business in the logistics, service, creative, financial, and IT fields in China with the close cooperation with Hong Kong.

This 15 km/Sq area is extremely close to the Hong Kong Border in Nanshan district, and aims to entice businesses in the above fields to the city by offering preferential tax rates, investment opportunities, and low cost office space amongst other benefits.

Despite being in mainland China, QianHai will also more closely resemble Hong Kong, with Hong Kong educational and medical organisations and facilities authorised to operate within the zone in exactly the same way as they are accustomed to in Hong Kong itself.

With enormous Chinese government investment of around 400 Billion CNY (US$65 Billion) and many other investors offering incubator and venture capital investment, if you’re in one of the zone’s preferred industries the question is, can you afford not to at least consider opening a QianHai company in Shenzhen’s fastest growing CBD?

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QianHai is Shenzhen’s fastest growing CBD with preferential tax rates, investment opportunities, and more!

QianHai Company Setup Benefits

As mentioned above, the QianHai zone offers several attractive benefits for companies, employees, and residents.

It offers:

  • Ultra low corporate income tax (CIT) of 15% until December 2020 (even Hong Kong’s is 16.5%, and Mainland China is generally 25%!)
  • CIT Tax breaks for certain industries where tax exemption lasts for 2 years from their first profitable year, and is subsequently charged at 50% (of the standard 25% CIT rate) for the next 3 years
  • ‘Green’ companies rewarded with CIT tax breaks
  • VC SMEs eligible for CIT tax breaks
  • Businesses may account for 30% of their income from none-preferential business activities, meaning that companies have more flexibility in how they can trade
  • Foreign high-end talent, skilled foreign workers, may be eligible for individual income tax reductions by subsidy if the income tax equals 15% or more of their total taxable income
  • Reformed tax declaration, making it easier and faster for companies to handle their taxes in China  Close proximity to Hong Kong and the main cities of the PRD
  • Can get loans from Hong Kong banks in CNY, but with Hong Kong loan rates
  • Billions of CNY in government grants for preferred industries
  • Easy access to Hong Kong and overseas banks, many of whom choose Qianhai as their local HQ
  • Hong Kong CPAs may provide their services within the zone as partners of local accounting firms, as may various other registered Hong Kong professionals
  • Hong Kong education providers may set up international standard schools within the zone
  • Hong Kong medical service providers may set up international standard healthcare service providers, such as clinics, within the zone
  • Hong Kong and Macau telecoms providers may set up a joint venture with Chinese firms in order to offer international class telecoms services for the zone
  • World class logistics, be it the custom built port, or the numerous local international airports
  • Youth entrepreneur innovation hub offering subsidised company start up costs, research, networking with Hong Kong peers, and venture capital opportunities for younger entrepreneurs

As you can see, the “QianHai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone” is an exciting proposition for companies in the right fields,and Hongda Business Services is ready to help you set up your Qianhai company quickly and easily!

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Benefit from tax breaks, Hong Kong facilities, banking, and standards within China

What Kinds Of Company Can Be Set Up In QianHai?

Aside from the benefits listed above, the company types permitted in QianHai are the same as in other areas of Shenzhen, and Mainland China as a whole.

Hongda can help your business set up the following company types in QianHai:

  • WFOE
  • Joint Venture (Equity or Cooperative)

What Is The Setup Process For QianHai Companies?

The setup process is much the same as is followed by Hongda elsewhere in Shenzhen or the PRD, but as it is in the QianHai zone, Hongda will:

  • Apply for the company name
  • Gain pre-approval to register the company
  • Prepare the application with you
  • Submit the application to the QianHai authorities for approval
  • Once approval is gained, submit the application to the secretary of commerce to register the company
  • Complete registration process
  • Once registration is complete, return legal documents to you and your QianHai company will be open and ready for business

For more details on the setup procedure for individual company types please click here to see the company setup services and learn more.

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