In this issue of China Briefing, we look at the important pre and post-registration procedures foreign investors need to be aware of when setting up in China. When establishing a company in China, careful planning must be done prior to incorporation to fully prepare for the financial and tax implications of the business. If not included, the business can be inefficient from its birth. Attention to detail also needs to be put in once the business license has been issued, there is still quite a bit of work to do for a business to be completely legal and functional. From opening a bank account to registering the new company with Customs and the State Administration of Foreign Exchange, injecting capital, and obtaining a capital verification report, there are vital steps in the establishment process that every investor should be aware of. Failure to correctly follow through on these procedures can lead a company to non-compliance and government penalties.
We also include post-registration procedure workflow charts for representative offices, foreign-invested enterprises and foreign-invested manufacturing enterprises.
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