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Foreign Investment in China
China Business Registration
China Taxes
Laws and Regulations
Expatriate's Corner
Scope of Services
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.
The registration procedures of a Wholly Foreign Owned Enterprise (WFOE) could be divided into 3 phases: aproval phase, registration phase and post-establishment phase.
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.
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.
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.


Our offices in Shenzhen, Shanghai and Beijing assist local and overseas clients in doing business successfully in China. With extensive experience in local languages, cultural and business practices, our China Consulting team possesses the skills and knowledge to provide "total solution" Business Advisory services including:

Establishing China Operations

Introduction to China business requirements;
Feasibility studies for establishing Representative Office (RO), Foreign Investment Enterprise (FIE) and Joint Venture (JV);
Preparation of required documents for application;
Acquisition of various government approvals;
Management of business registration procedures with local authorities;
Renewal of business licenses;
Preparation and administration of payroll in compliance with local reporting
requirements; and
Record keeping, payments, preparation and filing of statements in relation to social security and retirement scheme requirements.


Drafting and posting of recruitment advertisement;
Screening and interviewing candidates; and
Recommendation of qualified candidate.


Implementation of accounting systems;
Maintenance of accounting books and records;
Preparation of annual and periodic accounts and financial reports;
Preparation of consolidated accounts;
Consultation on accounting methods as practiced in China; and
Training on International Accounting Standards and computerized accounting systems for Mainland-based clients.

Tax Advisory

China tax compliance services;
China tax consultations;
China tax planning; and
Advising on the latest changes in taxation laws, rules, regulations and practices.

Trademark/Patent Registration

Trademark/patent search;
Trademark/patent consultation;
Trademark/patent application; and
Trademark/patent registration.

China Custom Consultancy

Revision of China Customs Reporting Handbook;
Consultation on China Customs laws and regulations;
Handling of China Customs procedures;
Logistical support for China trade and overseas export;
Arrangement of inspection and insurance issues; and
andling of banking and shipping documents.


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