How do I register my small business in China?

How much does it cost to register a company in China?

Fees

Different China entity types Cost Draft invoice
Subsidiary LLC US$16,650 View invoice PDF
Holding company LLC US$17,650 View invoice PDF
LLC with employment visa US$21,600 View invoice PDF
Hong Kong legally tax exempt company US$8,910 View invoice PDF

How long does it take to register a company in China?

Registering a business in China can be a long process. In 2017, China was ranked 28th out of 190 countries (1 being the best) for starting a business It takes an average of 4 procedures and 9 days to establish a corporate entity in China.

How can a foreigner start a business in China?

9 Steps to Starting a Business In China as a Foreign Company

  1. Background – Foreign Investment in China.
  2. Step One: Pick a Business Location.
  3. Step Two: Consider a Global Expansion Partner.
  4. Step Three: Use a Recruitment Agency to Hire Chinese Staff.
  5. Step Four: Choose a Legal Structure.
  6. Step Five: Create Your Business Plan.

Can foreigners own company in China?

Foreign Ownership

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China allows foreign entrepreneurs to set up a wholly owned limited liability company, also known as a Wholly Foreign Owned Enterprise (WFOE). However, companies can engage only in “encouraged” fields of business activity and not those which are “restricted” or “prohibited”.

Is it illegal to do business in China?

There is no restriction on doing business with certain countries or jurisdictions except for those subject to sanctions imposed by the UN. However, investments in certain sensitive industries or sensitive countries or jurisdictions by Chinese domestic entities require the approval of the central government.

Is it hard to start a business in China?

As you could see, starting a business in China is not so easy, especially for many small and medium companies that many times don’t have the resources to deal with company formation, taxes, HR, regulations. In China, it is possible to start a business in an easier and low-risk way.

How much does it cost to set up a WFOE in China?

Typically, setting up a WFOE in China with this type of firm will cost around RMB10-20,000. Unlike large international firms, these companies care about and need your business, and so are likely to make a great effort to please clients at every turn.

Is China a good place to start a business?

China is one of the most important emerging markets in the world and one that offers many business opportunities for foreign investors. … However, despite the initial differences and challenges, China is an excellent place to start a business.

What are the disadvantages of doing business in China?

Potential disadvantages to doing business in China

  • Intellectual Property. Intellectual property rights have always been a major issue in China although some recent reports indicate that the country is improving. …
  • Skilled Labor. …
  • Rising Costs. …
  • Lack of Transparency.
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What is the best business in China?

Best Small Business Ideas in China

  • Manufacturing of Household Commodities.
  • Online Stores. …
  • English-Language School. …
  • Haulage Business.
  • Mobile Phones and Accessories Business. …
  • Electronics and Gadgets.
  • Jewelry.
  • Accessories.

How much money do I need to start a business?

Estimate your costs.

According to the U.S. Small Business Administration, most microbusinesses cost around $3,000 to start, while most home-based franchises cost $2,000 to $5,000. While every type of business has its own financing needs, experts have some tips to help you figure out how much cash you’ll require.

How do I start a business in China?

Here are six tips for doing business in China.

  1. Make sure you’re ready. The first thing you will want to do is make sure your business is ready to take on this project. …
  2. Narrow down your market. …
  3. Consider your distribution strategy. …
  4. Get external help. …
  5. Consider your financing and insurance needs. …
  6. Carefully negotiate contracts.
Tips for Entrepreneurs