Talent Spot | Steps to Establish Company in China

Steps to Establish Company in China.According to the post “The anatomy of doing business in China”, it’s time to depict the blueprint for your future business in China. Here comes the comprehensive version for the company formation process in China. 

• Obtain a pre-approval notice of the company name, which takes a day.

• Open a preliminary bank account in which to deposit funds and obtain proof of deposit. This takes a day.

• Obtain a report verifying company capital from an auditor. This takes 2 days and costs approximately 350 RMB.

• Obtain registration certification, which takes 5 days and costs approximately 0.08% of capital.

• Obtain approval from the police department to make a company seal. This takes 1 day.

• Create the company seal. This takes 1 day and costs approximately 300 RMB.

• Within 30 days of receiving the business licence, apply for the organization code certificate which is issued by the Quality and Technology Supervision Bureau. This takes 5 days and costs approximately 150 RMB.

• Registration with the local statistics bureau. This takes 1 day and costs approximately 20 RMB.

• Register with tax bureau for state and local tax. This takes 10 days and costs approximately 100 RMB.

• Open a formal company bank account and transfer the capital to the account. This takes a day.

• Apply to the relevant authorities to print or purchase financial invoices and receipts. This takes 10 days.

• Submit an application form to purchase uniform invoices. This takes one day and costs approximately 2 RMB per book of invoices.

• Register with the local career service centre, which takes 1 day.

• Registration with the Social Welfare Insurance Centre. This takes 1 day.

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