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Frequently Asked Questions
Wholly Foreign Owned Enterprises (WFOE)
A Wholly Foreign Owned Enterprise (WFOE) is a Limited Liability Company established in China by foreign investor(s). A WFOE is very much like a LLC in the USA that it requires one member only.
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The registration procedures of a Wholly Foreign Owned Enterprise (WFOE) could be divided into 3 phases: aproval phase, registration phase and post-establishment phase.
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A Wholly Foreign Owned Enterprise (WFOE) could be terminated by way of liquidation or deregistration by its investor(s) or when the conditions of termination in its Articles of Association occurs.
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China Taxation
Under the current tax system in China, there are 25 types of taxes which could be divided into 8 categories. The major ones are Business Tax, Value Added Tax and Enterprise Income Tax. More
Representative Offices are also liable for Business Tax and Enterprise Income Tax. However, a RO could be exempted if its parent company is in the manufacturing business.
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Any individual who has domicile in China or who has no domicile in China but has resided in China for one year or more shall pay Individual Income Tax on his world-wide income.
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CHINA FOREIGN INVESTMENTS
FIE REGISTRATION PROCEDURES


FIE Post-establishment Procedures
Entry/Exit Formalities

Overseas residents who come to Guangdong for field studies, business talks, factory management, employment, technical consultations or other economic activities in connection with a foreign invested enterprise, processing or assembling for export purpose, or compensation trade, shall abide by entry and exit procedures.

1. Entry formalities for nationals of countries with which China has diplomatic relations

Businessmen from countries with which China has diplomatic relations may apply for approval of entry and exit through the Department of Foreign Trade and Economic Cooperation of Guangdong Province, while specific formalities shall be handled by the receiving establishment. The approved invitation shall be issued to the entrant through the receiving establishment. The entrant shall go to a Chinese embassy or consulate, or the visa office of China's Ministry of Foreign Affairs in Hong Kong and Macao for visa against the invitation.

2. Entry formalities for nationals of countries with which China has no diplomatic relations

Please contact the Foreign Affairs Office of Guangdong People's Government pr the Foreign Affairs division of the Department of Foreign Trade and Economic Cooperation of Guangdong Province for specific entry formalities for nationals of such countries.

3. Entry formalities for Taiwan residents

A Taiwan resident may conduct entry permission formalities by himself at Hong Kong through China Travel Service or Office of the Commissioner of the Ministry of Foreign Affairs of P. R. China in Hong Kong SAR. A Taiwan resident, after entry, needs multiple entry permits due to investment or other economic activities in Guangdong Province shall submit a written application, which is to be presented with comments of the receiving establishment to the Taiwan Affairs Office of the county or city, together with the passport, traveling documents upon entry, four photos and other verification documents such as the business contract. At the same time, relevant forms shall be made out and commented by the county or city public security authorities to be examined by the Taiwan Affairs Office of the People's Government of Guangdong Province. Upon approval of the office, Department of Public Security of Guangdong Province will issue an entry/exit permit for different time periods (three months, six months or one year) for entry/exit through specific ports. An extension application for such a permit shall be made according to the above procedures

4. Entry/exit formalities for Hong Kong and Macao residents

Hong Kong and Macao residents can enter and exit with their "Home Permit".

Hong Kong Head Office              Room 803, Futura Plaza, 111 How Ming Street, Kwun Tong, Hong Kong
                                                 TEL +852 2341 1444      FAX +852 2341 1414      E-mail info@bycpa.com

Shenzhen Office   TEL +86 (0755) 82684480 82684483 82684484 FAX +86 (0755) 82684481
Shanghai Office   TEL +86 (021) 64394114 64399276 FAX +86 (021) 64394414
Beijing Office   TEL +86 (010) 68748420 68748422    FAX +86 (010) 68748421  

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