What is a WOFE?
WFOE is a limited liability company in China which is 100% owned by the foreign investor. WFOE requires registered capital and its liability is limited to its equity. It can generate income, pay tax in China and its profit can be repatriate back to the investor’s home country. Any limited liability enterprise in China which is 100% owned by a foreign company, individual(s) or companies can be called as WFOE.
1. 2x copies of your company Certificate of Incorporations, Articles of Formation or Equivalent document certified by Chinese Embassy or Chinese Consulate overseas or for the individual investor, two copies of the passport of Investors certified by Chinese embassy or consulate.
2. 2X copies of the investor’s bank reference letter that declares the investor to be in good standing with the bank.
3. Copies of the passports of the parent company’s director, legal representative that will submit the paperwork and the Chinese company’s supervisor.
4. 6x copies of the China corporation‘s supervisors resume.
5. China Legal Representative provides 6 photos (2 inches size), brief resume
6. Certificate of registered capital, Business scope document, Eight proposed Chinese names for the China company.
7. Office address in China
8. 2x copies of the leasing contract
9. 2x copies of certificate of real estate ownership
10. 2x copies of the landlord identification
11. 4x copies of Authorization
12. That gives the China company supervisor authority to sign documents on behalf of the parent company, lease office space and deal with any administrative requirements required to establish the China company.
13. If you’re setting up a Trading WFOE: the most recent audit report copy from the parent company provided by a Certified Public Accountant (CPA) and Customs HS Code for the proposed Import/Export products in China.
1. Name, registration with State Administration of Industry and Commerce (SAIC)
2. Certificate of Approval by Ministry of Commerce or Foreign Economical Cooperation Bureau
3. Application for Business License with SAIC
4. Reviews made by Public Security Bureau (PSB)
5. Organization Code License by Technical Supervision Bureau (TSB)
6. Tax Certificate by Taxation Bureau
7. Registration and approval with State Administration of Foreign Exchange (SAFE)
8. Open foreign currency and RMB bank account
9. Transfer capital from investor’s overseas bank account
10. Capital Verification Report by a Certified Public Accountant (CPA)
11. Apply for Permanent Business License with SAIC
12. Financial certificate registration
13. Statistics license registration
14. Import/Export license applicable for a Trading & Manufacturing WFOE