█ Wholly Foreign Owned Enterprise (WFOE) Registration

As its name suggests, a wholly foreign owned enterprise, also known as a WFOE or WOFE, is a limited liability Chinese company which is invested into with 100% foreign capital and owned by only foreigners.

This company behaves in the same way as any other Chinese company, in that it can trade freely in China, make revenue in CNY, invoice (produce fapiaos) in CNY, can transfer profits back abroad, and can export goods.

█ Advantages Of A WFOE in Shenzhen China

        (1) Independence and freedom to implement the worldwide strategies of its parent company without having to consider the involvement of the Chinese partner;

        (2) Ability to formally carry out business rather than just function as a representative office and being able to issue invoices to their customers in RMB and receive revenues in RMB;

        (3) Capability of converting RMB profits to US dollars for remittance to its parent company outside of China;

Protection of intellectual know-how and technology;

        (4) For Manufacturing WFOE, no special requirements for Import / Export license for its own products;

        (5) Full control of human resources;

        (6) Greater efficiency in operations, management and future development.

█ Capital Requirement

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. Also, there is no minimum paid-up capital requirement since 2015.

█ Shenzhen WFOE Registration Package(HOT)

This package is applicable to the case where a foreign investor applies to register a limited liability company (WFOE) in Shenzhen, China for the purpose of carrying out business information consultation, project investment consultation and enterprise management consultation service, trading and exporting etc. The registration costs will be increased accordingly if your business activities need special approval (such as manufacturing or financial services).

NOTE:

        (1) The above price does not include business address charge. If you have your own office in Shenzhen, there is no additional charge. If not, Lemon Accountancy can also help you to provide with secretary address (USD 599 one year).

        (2) WFOE setup takes about 10-15 working days.

█ Required Documents for China WFOE Registration

        (7) Copies of overseas company registration documents (required if a company is the foreign investor)

█ Additional Services from us For WFOEs

Lemon Accountancy also offers the following services for WFOEs:

        (1) Open a Chinese corporate bank account (foreign currency and CNY)

        (6) Foreign staff's China work visa application

█ Our Works(Sample)