Chengdu National Cross-Straits Science and Technology Park
The Wenjiang district of Chengdu, Sichuan province is an important constituent part of Chengdu. It is 16 kilometers to the west of the city's central urban area and 18 km from Shuangliu International Airport. It has a population of 326,700 and contains six towns and four districts, on a 227-sq-km area.
Wenjiang is the site of the Yufu kingdom of ancient Shu, and has been a political, economic, and cultural center for western Sichuan since the year 555.
It lies on the Minjiang River Plain, which gives it a humid climate and four distinct seasons, with its original ecology and favorable environment. The district is known as Golden Wenjiang for its historical sites, such as the Yufu King's Tomb, Confucian Temple, Chen's Mast, and Mahayana court.
The people of the district are thought to be brave and intelligent and helped it develop quickly to become the province's prosperous county, and western China's first International Garden City and a national ecology zone.
The district contains the Chengdu National Cross-Straits Science and Technology Park, southwest China's largest national economic development zone, with bio-pharmaceutical, healthy food, and electronic information industries.
Wenjiang also has a modern service industry which is part of a national reform project and it is also a provincial health service industrial center. It boosts an integration of city and countryside for an international satellite town that is well-suited to business, living and tourism.
To facilitate people who want to invest and set up business in Wenjiang district of Chengdu, 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 OwnedEnterprise (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 aLiaison 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 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 Chinaistaking 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, Guangzhou, 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 Chinabecomes 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 Chengdu 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 . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Chengdu 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 Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Chengdu China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Chengdu China. We offer a range of company formation services including helping you to set up:
Contact Tom Lee for business setup consulting in Wenjiang district of Chengdu China now.
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