How to Set Up a CHINA WFOE

Posted by aimewolf on September 17th, 2015

China WFOE stands for Wholly Foreign Owned Enterprise, which is a company with limited liability whose owners are foreign investors. There are numerous investors who want to enter the China market and WFOEs were conceived to encourage them. Nowadays more and more individuals are interested in setting up WFOEs that have great potential. Business owners who find this process challenging can opt for professional guidance and they can resort to Accounting Services provided by an experienced company.

It is quite complicated to set up a CHINA WFOE; the entire process must be carefully planned and there are various things to be dealt with from the very beginning to avoid problems later on. The only way to eliminate mistakes is to hire a company to assist you with this process. Before you start gathering the necessary documents for the WFOE you should define the scope of your business. You can choose from service WFOE, trading WFOE or manufacturing WFOE. The setup procedures for each type of company differ and so do their costs. Your company must fulfill certain criteria to be eligible and the service WFOE is the easiest and least time intensive to setup.

Another aspect you have to consider once you embark on this process is to choose the right representative. You will have to fill various positions such as Executive Director, Legal representative, General Manager and Supervisor. Also, you will need a daily contact person and a person in charge of finance and both have to be registered with the tax bureau. It is important to be aware of all of these aspects when setting up a CHINA WFOE in order to eliminate mistakes that can delay the setup process and cause damage to the company. Also, you should not forget about ensuring your trademark and intellectual property. In fewer words, starting a business in China is not easy and you can avoid the hassle by hiring an experienced company with comprehensive knowledge in this field.

Once you setup a company in China, you will have to deal with numerous challenges and keeping accurate accounting is one of them. It is practically impossible to do this yourself because you are not familiar with China laws and the smartest thing you can do is hire a reputed company to assist you with Accounting Services. This will reduce errors to a great extent and it will enable you to focus on generating profit. It is your responsibility as a business owner to increase marketability and to develop a company with a strong presence in a highly competitive marketplace.

Needless to say that this is a time-consuming task and you can use all the help you can get.

It takes time and effort to build a successful company, one that enables you to be one step ahead of your competitors and the last thing you need is to deal with accounting problems. It is best to hire a reputed company that puts at your disposal professional Accounting Services. This will take a huge burden off your shoulders and it will enable you to focus on essential tasks.

Individuals who need help with setting up a CHINA WFOE have come to the right place. We invite you to visit our website and we are pleased to put at your disposal professional Accounting Services.