Lying in the southeastern coast of China and bordering Zhejiang Province, Jiangxi Province and Guangdong Province, Fujian is facing Taiwan across the Straits and one of the closest mainland provinces to South east Asia and Oceania, as well as an important window and base of China for global exchanges. Boasting a long history, Fujian was called the Region of Minyue during the Spring and Autumn Period and the Prefecture of Min-Zhong during Qing Dynasty. In the middle of Tang Dynasty, the post of Fujian Military Commissioner was established, and the province was hereafter called Fujian. The brief name of Fujian, "Min", is derived from Min River, the greatest river within the province. Covering a land area of 121,400 square kilometers and a sea area of 136,000 square kilometers, Fujian governs Fuzhou, Xiamen, Quanzhou, Zhangzhou, Putian, Longyan, Sanming, Nanping and Ningde (nine municipal cities), as well as 85 subordinated counties, cities and districts (including Jinmen County).
Officially launched in April, 2015,China (Fujian) Pilot Free Trade Zone covers a total area of 118.04 square kilometers and consists of three areas: Pingtan Area (43 square kilometers), Xiamen Area (43.78 square kilometers, including the 0.6-square-kilometer Xiangyu Bonded Zone, 0.7-square-kilometer Xiangyu Bonded Logistics Park and 9.51-square-kilometer Haicang Bonded Port), and Fuzhou Area (31.26 square kilometers, including the 0.6-square-kilometer Fuzhou Bonded Zone, 1.14-square-kilometer Fuzhou Export Processing Zone and 9.26-square-kilometer Fuzhou Bonded Port).
According to the Overall Plan for the China (Fujian) Pilot Free Trade Zone approved by the State Council, the Fujian FTZ will give full play to the Taiwan advantages, adopt innovative cross-Strait cooperation mechanism, promote free-flowing of goods, services, capital and personnel and enhance the economic connection of Fujian and Taiwan.
At the same time, it will also fully leverage the advantages of being the frontline of opening up, accelerate the formation of a new pattern of opening-up at higher level and expand in depth and breadth exchanges and cooperation with countries and regions along the 21st Century Maritime Silk Road. After three to five years of reform, the aim is to build a free trade zone with investment and trade facilitation, prominent financial innovation features, sound service and legal system, and convenient and efficient supervision.
China (Fujian) Pilot Free Trade Zone Business Formation also can be understood as: Pingtan company setup, Xiamen corporate formation, Fuzhou business setup, Pingtan company registration, Xiamen business establishment and Fuzhou business registration.
To facilitate people who want to invest and set up business in China (Fujian) Pilot Free Trade Zone,here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign Owned Enterprise (WFOE)is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office (RO) is a Liaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is a Limited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in China istaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in China is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls
Since Fujian
Pilot Free Trade Zone was established on 21 April 2015, Tommy China Business
Consulting has been focusing on consulting services for our clients to set up
business in Fujian Pilot Free Trade Zone, we offer one stop services for Fujian
Pilot Free Trade Zone company formation
TCBC will manage all aspects of incorporation to get you a business license in Fujian Pilot Free Trade Zone, We offer a range of company formation services including helping you to set up:
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
Contact Tom Lee for business setup consulting in China (Fujian) Pilot Free Trade Zone now.
No comments:
Post a Comment