Understand the Jurisdictions Setup Requirement Before Proceed Your China Company Registration
As the second largest economy in the world, China company registration is now more elaborate than ever before. The process might be easier for you if you’re well conversant with the Chinese language or substantial contacts in the right places. But that shouldn’t worry you because 3E Accounting is a service provider that will offer you the best business solution services. With the 3E Accounting, you’ll enjoy a spectrum of services from:
- Business license renewal
- Business setup
- Taxation and auditing
- Legal services
- Corporate secretarial
Procedures of Incorporation
Now, China company registration begins by obtaining a notice pre-approval of your company name. You’ll get the notice for the name pre-approval from the local Administration of Industry and Commerce (AIC). You can either make the application or assign a representative entrusted by the shareholders to conduct the process. The moment the name approval is done, the application form should be signed by all the shareholders alongside other registration documents.
Besides the name approval, the Company Act requires you to open a preliminary bank account then and deposit your capital to acquire the certificate of deposit. The prerequisite minimum paid-up capital is currently at CNY 30,000 where the remaining capital contribution (if any) is payable within two years of registration.
The approval of the company registration is subject to scrutiny by the AIC within a fortnight before reaching on a decision.
The moment the registration is complete you’re now eligible to acquire the approval to design a company seal. When applying for a seal, ensure that you have your business permit in duplicate (original and one copy), legal representative’s ID. Afterwards, a notice will be issued to design the company seal, the moment the registration is approved.
Legal Documents and Requirements to Have When it Comes to China Company Registration
As part of China company registration, you must then acquire capital authentication report from a renowned audit firm. This is where 3E Accounting comes fore to assist you in audit services at the most affordable price. The audit firm will verify and certify the capital through a well-prepared report. Getting your business permit is the next step after capital verification. You, therefore, need to file a complete application form together with the following documents to get the registration certificate.
- A lease/proof of the registered office
- A notice of approval of a business name
- Assessment report/capital authentication certificate
- The Article of Association implemented by each shareholder
- Identification documents certifying the names and addresses of the directors and appointed supervisors
- Identification documents indicating the legal representative among others
Other Things to Know
China company registration requires that within a month of acquiring your business permit you must make an application for the organization code certificate granted by the Quality and Technology Supervision Bureau.
The Company Act requires you to file for tax registration with either of the two Taxes Authorities that is State Taxation Bureau or the Local Taxation Bureau. After acquiring the tax identification card, you can then be eligible to open a corporate bank account.