No stress. Hongda’s experts take care of everything for just one conference call: WFOE setup, and run one year of bookkeeping to keep you compliant.
As its name indicates, a wholly-foreign owned enterprise ,or WFOE, is a China-registered limited liability company 100% invested by foreign capital and owned by only foreigners.
A WFOE operates in exactly the same way as any other Chinese-owned company does. It can trade freely in China, make profit and revenue in CNY, issue invoices, transfer its profits abroad, and import/export goods.
A WFOE can operate as a subsidiary of a foreign company whose base or headquarter lies abroad. It may operate as a representative of a foreign company in China, but it still operates as a standalone entity inside China.
Ready to set up your WFOE now? Just hit the button below for a free consultation with us!
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A Wholly Foreign Owned Enterprise offers:
> Read more about the pros and cons of a WFOE.
Capital investment was traditionally required to demonstrate that the WFOE, or WOFE as it is often called, would not run out of money before being able to break even.
In recent amendments to the foreign investment laws, perhaps in a bid to spur more investment by lowering the barrier to entry for foreign firms, the government has since removed the minimum capital investment requirement when incorporating a WFOE in the country.
Companies can now determine how much capital will be required to maintain their operations and must simply ensure that they meet those targets within a period of 30 years. The amount that you commit to will vary depending on the business that you're doing. While it may be more flexible, please note that you will need to commit to registering an appropriate amount of capital upon forming the WFOE (for instance, a factory will require more than a trading company).
We will inform you about everything you need to prepare at one time. Then Hongda will take care of everything for you.
For you to understand what we are doing, we will report different steps and stages to finally set up your WFOE. Our thorough WFOE checklist will also guide you in every process.
Gathering the documentary evidence needed to apply for a WFOE is difficult and time-consuming.
We will require, roughly, the following documents from you in order to open a WFOE (updated May 2020):
The whole period of setting may vary basing on:
Customs and import-export Registration - Only Trading WFOE
Book a free consultation with our experts and receive our comprehensive proposal for you to confirm.
Sign the service contract and make payment.
We will send everything that you need to prepare, not hard at all.
Leave rest of the work to Hongda and we will inform you in 1-2 weeks.
WFOE/JV: Slow registration time.
The benefit of all is that if you aim to run a business in China, any will allow you to do so.