China is the second largest economy on the globe, but with its steady GDP growth showing no sign of ebbing out, the World Bank has indicated it is likely to overtake the United States by 2030.
For investors, China has all the attributes of the perfect springboard to growing their firms into multinationals. However, everything has to start from one point: China company formation.
For most offshore investors, China company formation is never easy because a lot of documents are required and it also involves dealing with multiple departments. Keep reading to understand the benefits of forming a company in China and the main requirements. Finally, we will explain why working with an agency of experts is the best way to get it right.
Benefits of China Company Formation
For most investors looking forward to going offshore, the idea of location is so important. So, here are the main benefits to anticipate for opening a company in China.
- Favorable government policies: For about four decades, the government of China has been designing pro-business policies which are opening the country to foreign investments. For example, you can now open a WFOE, which allows 100% foreign shareholding and exploitation of every available opportunity in the company’s scope.
- China has an abundance of qualified and skilled talents: The local universities in China release millions of professional workers every year. International graduates and experts are also getting encouraged to come and rebuild their home country. This means that getting the right staff is pretty easy.
- Awesome opportunities for growth: Apart from its large market of over 1.4 billion people, the Chinese market is highly diverse. The diversity offers investors many opportunities for growth. If your company initially targeted only, say, Beijing, it is possible to look at other top cities to grow presence, sales, and profits.
- Strategic location: China is positioned strategically in the heart of Asia, implying that the neighboring markets are within reach. So, once you are through with the China company formation, go ahead and craft strategies for growth into these additional markets.
China Company Formation: What are the Main Requirements?
As entrepreneurs coming to China rightly observe, the process of company registration can be pretty complex. To be able to correctly register your company, the first step is to understand the requirements. Check out the main ones below:
- Get a company name and have it pre-approved.
- Select the preferred scope of the company.
- Prepare all the required documents, which include the list of controlling partners, managerial structure, the articles of association, feasibility study report, and registered capital. The details of the directors, shareholders, and legal representative should also be included.
- Apply for an approval certificate.
- Apply for your business license.
- Get the company chops by registering with the public security bureau.
- Open a bank account and register with the tax bureau.
Primasia Makes China Company Formation Easy, Affordable, and Convenient
The best way to simplify the process of company registration in China is by working with an agency of experts. The good thing with experts is that they have been helping other companies for years and are willing to hold your hand too.
They can help you not only understand the process but also in preparing all the documents required for company registration. One of the best agencies that you can count on is Primasia.
Primasia is premised on ensuring that the otherwise complex process of company registration in China is simplified and convenient. In addition to company formation, Primasia can also be very helpful in crafting strategies for new market entry, filing tax returns, accounting, and payroll management.
When it comes to China company formation, navigating through the process alone can be pretty challenging. Visit Primasia now to talk to an expert in company formation and enjoy seeing your business grow.
The local formation of China might not seem to be relatable to you but if you visit any other country, you will find their unique formation and strategies. So, it is better to focus on a particular formation of the country.
The formation of a company is China depends on various sections. You might consider all the processes and steps what China needs by collaborating with other B2B companies. You will be able to get various consultants to collaborate with. For instance, IT consultant, marketing consultant, legal consultant et cetera.
The economic growth of China is attractive enough to satisfy your business thirst in the country and also can provide you stable business future.
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