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Shezz428

Registering a business

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Hello 

 

I am from south Africa and looking to start my own business here. I need to know how and where to register my business and what documents I need to be able to export products to south Africa. I also need to know how to be compliant in terms of tax here in China.

 

Any advice would be greatly appreciated! 

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You’ll need to register a WFOE (Wholly Owned Foreign Enterprise) unless you start a Joint Venture with a Chinese citizen. 

 

Seriously you should use a Chinese lawyer to do this. Cost will be in the region of 15-20,000 RMB setup costs plus initial investment (which doesn’t need to be paid in initially). 

 

Lawyers dealing with with these types of companies can also deal with your accounting & tax issues. 

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16 hours ago, Shezz428 said:

Hello 

 

I am from south Africa and looking to start my own business here. I need to know how and where to register my business and what documents I need to be able to export products to south Africa. I also need to know how to be compliant in terms of tax here in China.

 

Any advice would be greatly appreciated! 

There isn't much to add onto what Shezz said other than you can do this by yourself if your Chinese is good enough. All the documents are in Chinese. I have a 外资公司 here in Hangzhou. Important things to keep in mind. Depending on the type of business you are opening, you are required to write down your initial investment and then provide that money in an account. They freeze it and then they release it afterwards. I've heard some don't require it, some do. There can also be minimum investment amounts required.

When doing the paperwork, you will be required to have management and accountant set up already and their documents will be required when applying. In order to pay taxes, you have to have a company account. So you'd take your business license to the bank, open a company account, from that account your 财务 would pay the taxes. You need the Chinese stamps in order for them to do it. We have the 公司章,法人章,财务章,发票章。These are enough for us but others might need more. They are required to do it monthly, and you are required to have an accountant to do it, so be sure you are ready to pay this monthly expense. 

Never let your account have both the FaRen Zhang法人章 and the CaiWu Zhang财务章...you do that and tomorrow your company is theirs!

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