Overview of Xiamen,Tommy China Business Consulting Offer One Stop Services For Company Registration Business Set Up In Xiamen

As a beautiful seaside city located on the southeast coast of China, Xiamen faces Jinmen Islands and lies opposite Taiwan and the Penghu Islands across the Taiwan Straits. Legend has it that white egrets inhabited this area in the ancient times, hence its name Egret Island. Its annual average temperature is around 20°C, without any extreme heat or cold. With a land area of 1,573.2 km2 and a sea area of 390 km2, Xiamen administers six districts, namely Siming, Huli, Jimei, Haicang, Tong'an and Xiang'an. Southern Fukinese is the city's pervasive local dialect among its 4.01 million permanent residents.

Xiamen is one of the most competitive cities in China and one of the first Special Economic Zones on the mainland. As a vice-provincial city independently listed on the state development planning, it is granted provincial-level authority on economic administration and local legislative power. In 2010, Xiamen SEZ was expanded to cover the whole municipality. Now it has already become a modern and international port city featuring beautiful scenery. In 2017, the per capita GDP of the permanent residents exceeded $435.1 billion yuan ($69.2 billion). The fiscal revenue accounted for 27.3 percent of the local GDP.

Known as one of the most livable cities in China, Xiamen has been awarded numerous national and international honors, such as National City of Excellence in Social Ethics, International Nations in Bloom, UN-Habitat Scroll of Honor Awards, National Sanitary City, National Garden City, National Model City for Environment Protection, China Excellent Tourist City, China Top Ten Livable Cities, etc. It is also one of the top ten tourist destinations and one of the most frequently visited international cruise terminals in China. The major tourist attractions in the city include Gulangyu Island, Wanshi Botanic Garden, Island Ring Road, Nanputuo Buddhist Temple, Horticulture Expo Garden, Jimei School Village, Dadeng Islands, Haicang Bridge and Huoshaoyu Ecological Park.

Major Economic Indicators of Xiamen in 2017

	Unit	Year 2017	Percentage Annual Growth Rate 2016-17
GDP	100 million yuan	4,351.2	7.6
Added value of industries above a designated scale	100 million yuan	1,437.16	8.1
Port cargo throughput	10,000 tons	21,116.25	1.0
Container throughput	10,000 TEUs	1,038.14	8.0
Airport passenger throughput	10,000	2449	7.7
Foreign trade volume	$100 million	5,816.04	14.3
Import volume	$100 million	2,562.39	28.4
Export volume	$100 million	3,253.65	5.2
Number of newly approved foreign invested projects	1,145	－
Contractual foreign capital	$100 million	328.12	- 34.3
Utilized foreign capital	$100 million	160.11	11.2
Total fiscal revenue	100 million yuan	1,187.29	9.6
Fiscal revenue to the local government	100 million yuan	696.78	11.0
Total Investment in fixed assets	100 million yuan	2,381.46	10.3
Total retail sales of consumer goods	100 million yuan	1,446.74	12.7
Per capita disposable income of urban residents	yuan	50,019	8.1
Per capita cash income of rural residents	yuan	20,460	11.5

Xiamen Business Formation also can be understood as: Xiamen company setup, Xiamen corporate formation, Xiamen business setup, Xiamen company registration, Xiamen business establishment and Xiamen business registration.

To facilitate people who want to invest and set up business in Xiamen, 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 LiaisonOffice 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 Limitedliability 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 ofEstablishment 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 aSpecial 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 2006, TCBC has been focusing on consulting services for our clients to invest in Xiamen China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business,negotiate and draft various legal documents provide legal advice, negotiate government officer for Landacquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Xiamen China, drafting privacy policies and structuring commercial transactions

TCBC will manage all aspects of incorporation to get you a business license in Xiamen China. We offer a range of company formation services including helping you to set up:

-Wholly Foreign Owned Enterprises (WFOE)

-Representative Offices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Contact Tom Lee for business setup consulting in Xiamen now.