Antares business Services (ABS) provides services to foreigners in registering their companies in China. We are continuing our success of making dreams come true for foreign entrepreneurs in China and providing unparalleled professional services for obtaining a business license for entrepreneurs in China. The registration of a Company in China takes about 40 working days to complete.  

Requirements

1) Company name and office address:

a) Office lease contract

In China, prospective clients and business partners will often ask you where your company is located in China. Hence, a good location is an asset.

b) Provide at least three names on priority bases.

1. xxxxxx.co., ltd

2. xxxxxx.co., ltd

3. xxxxxx.co., ltd

2) Business Plan/Business scope

e.g.Consulting company; Enterprise management consulting, economic information consulting, marketing planning, education consulting etc...

3) Passport of Shareholder's and shareholding ratio

4) Legal representative and Board of directors

5) Registered capital

Note: All above documents should be translated by an authorized translation company in mandarin (Chinese).

Registration Steps

Step 1: Name approval

One of the first steps for foreign companies is to decide an appropriate name for the Chinese market. Provide at least three names on priority bases. Administrative region, name of incorporation: E.g. 1) Registered location + Chosen name + what the company does + Company type (上海xxx电子有限公司 or Shanghai xxxx Electronics Co., Ltd.) 2) Chosen name + (Registered location) + what the company does + Company type (Xxxx（北京）贸易有限公司 or xxxx (Beijing) Trading Co., Ltd.) Additional guidelines restrict the content of names, forbidding the use of content that either misleads consumers or hinders fair competition, or damages or contradicts national unity, policies, social ethics, culture, or religion. Special characters, such as Arabic numerals, foreign symbols or alphabets, are not permitted, and certain words such as 'China', 'Chinese', 'National', 'State' or 'International' can only be used under limited circumstances. An English translation or transliteration of the company name is not required to be registered with the AIC, but may have equal legal validity as a Chinese company name providing there is enough evidence to associate the English name of a company with its Chinese name, such as a bilingual company stamps bearing the two names. The availability of names can be checked by searching trademark and business registration databases, such as the Trademark Office of the Administration for Industry and Commerce (AIC)

Step 2: Office space lease

As company registration require office, it needs to be leased for legal operation in China. The lease should be made before submitting the application for incorporation, and a rental period of at least 12 months starting from the application submission date to the AIC is also required. A land rights certificate and personal documentation should also be obtained from the landlord to ensure the legitimacy of the property. A copy of a Certificate of Premise Ownership (CPO) issued by the real estate authority needs to be submitted to the local AIC.

Step 3: MOFCOM record-filing

The application can go through a simplified record-filing process, recently promulgated in the Provisional Measures for the New Filing System issued by MOFCOM.
This process requires:
1) An application form.
2) Commitment letter by all investors or their representatives.
3) Post-approval documents of the name.
4) Power of attorney appointing the representatives and the identity paper of the representatives.
5) Certificate or identity document of investors and legal representative for the application.
These documents must be uploaded through the online integrated management system.The commerce authorities, normally provincial-level should verify the integrity and accuracy of the information and complete the filing within seven working days.

Step 4: Five-in-one business license

After receiving an Approval Certificate from MOFCOM, application for registration of a business license can be made to the local AIC within 30 days of receipt. As with the record-filing process, the application for a business license has recently been significantly simplified with the introduction of the five-in-one business license, which has replaced the previous three-in-one license. Accompanying the new business license scheme is an online business registration system, which facilitates information sharing between all departments involved in the registration procedure. One application form and one set of application materials can be submitted to an application terminal at the local AIC..

Step 5: Carving Stamps

Unlike practices in the West, a company's official seal in China has legal authority over the signature of a legal representative and has the power to validate documents and contracts, regardless of who uses it. Its possession and whereabouts are therefore of utmost importance. All companies operating in China are required to have an official seal, which is round in shape and bears the official company name in Chinese, and where applicable, in English. A company seal can be obtained from the local Public Security Bureau (PSB) after successful registration with the AIC. When signing a contract, it is always the opposite party's responsibility to ensure that the signing party's seal is authentic, if not, the contract is not legally binding. The PSB therefore keeps a duplicated copy of the official company seal in the event of fraud or disputes. Other than the official company seal, a company must also have a legal representative seal, a financial seal, a seal for use on Fapiao, and a customs seal. A legal representative seal is used for specific license certificate applications and banking documents, while the legal representative seal is square in shape and bears the name of the company's legal representative. The financial seal is used to validate financial transactions such as cash withdrawals, wire transfers, and bank checks. The company's financial officer should keep possession of this seal separately from others. With authority in a Chinese company residing primarily in the hands of the person who currently holds its seals, it is advisable to put in place a mechanism to track, record, and monitor their use.

Step 6: Open foreign exchange and RMB bank account

A company in China needs to have a minimum of two banks accounts: A RMB basic account, and a foreign currency capital contribution account. A RMB basic account is a must for a company daily business operations in China. This account is the only account from which the company can withdraw RMB cash, and often acts as a designated account for making tax payments. The foreign currency capital contribution account is necessary to receive capital injections from overseas. A company's financial and legal stamps are usually required in order to verify the 'signature' of the company when opening a bank account in China.

Step 7: Import and export license

In order for a trading company to conduct import/export trading & distribution activities, it must first obtain a customs registration certificate and an import-export license, which essentially allows it to exchange foreign currencies to RMB, and refund sales or VAT on imported or exported products. In addition to this, a trading company must complete foreign trader operator filing with MOFCOM, make quality inspection registration with the Entry-Exit Inspection and Quarantine Bureau, and obtain an E-port IC card, software, and card reader with the China Electronic Port.

Step 8: Tax related procedures

Taxpayers in China are split into two categories, general taxpayers and small-scale taxpayers. Accounting systems, accounting laws, income tax laws and guidelines differ quite a bit in numerous nations, and it's also no different for China. Proper information is therefore critical for businesses in China to achieve success. Antares business services will help businesses of all sizes using their accounting requirements. We can provide a customized, tailor-made Accounting Solutions including Accounting, Bookkeeping, Budgeting & Forecasting, Financial Statement Preparation and Accounting Reports. Antares business services company's accountants have a deep comprehension in China's complex accounting system. We strive to keep your business's accounting practices in conformity with the rapidly evolving accounting systems, letting you concentrate on your company's business techniques.

POST-APPROVAL DOCUMENTS

After completion of company registration the owner of company should receive the below documents and equipment.

• 5 in 1 license
• License to display on the wall
• Bank Account Permit
• Custom Registration
• 5 Stamps
• Fapiao(inoice)Tax control equipment
• Import and export trade registration(license)
• Banking equipment