Register Company in China - Block3 Finance
To register a company in China is a hassle-free process with Block3 Finance's assistance.
China’s rising economy and its strategic location make it an attractive place to set up your new corporate entity. Simplifying business setup procedures, the recently introduced “5-in-1” business license aims to speed up the registration process. With all these benefits, it is understandable why many businessmen choose to register a company in China.
Our service package includes
Company registration with the State Administration of Industry and Commerce
Local company secretary and registered address
Opening a corporate bank account
Financial license applications
Annual accounting and tax services
How Long to Register a Company in China and Open a Corporate Bank Account?
Block3 Finance will assist you in completing the process of incorporating your company in China within 4 weeks. After receiving the required due diligence documents of the directors and shareholders, we will proceed to check on the availability of your preferred company name and prepare the necessary incorporation documents.
The process to register a company in China can be carried out remotely, so you do not need to travel to China during the registration process. On average, company registration in China takes approximately 6 weeks.
After Block3 Finance has registered your company, you can expect to receive the documents of your new company, including the certificate of formation, memorandum & articles of association, and a register of directors and shareholders.
Within 4 weeks upon registration, Block3 Finance can assist you in opening a corporate bank account with a local Chinese bank or with an overseas global bank, depending on your business goals and objectives.
You can expect to start operations and issue invoices with your Chinese company within 10 weeks of engaging Block3 Finance.
Can a Foreigner Register a Company in China?
Yes, foreign investors can fully own their companies in China. China has repealed most of its protectionist foreign ownership limits, and foreign businesses are offered greater flexibility and control. The government has introduced the Wholly Foreign-owned Enterprise (WFOE), a form of LLC that is relatively easier for foreign owners to incorporate and manage.
Despite these improvements, some industries in China still have restrictions on foreign ownership, particularly in sectors such as agriculture, rare earth mining, and domestic transport. Foreign investments in Free Trade Pilot Zones may also have similar restrictions.
How to Register a Company in China?
Block3 Finance advises you to follow these steps to ensure a smooth process for registering your company and setting up a bank account in China.
Step 1: Choosing a Suitable Corporate Entity for Your Business: After understanding your business goals and activities, our team of dedicated consultants will recommend the most suitable corporate entity for you to carry out your business. We will advise you on the optimum paid-up share capital, corporate structure, legislation, and whether you need to apply for licenses to operate.
Step 2: Reservation of Company Name with the Administration of Industry and Commerce: Next, you must choose a preferred name for your business. This name must not be similar to those of existing entities. Block3 Finance will then reserve your preferred company name with the local Administration of Industry and Commerce. This process can take 2-15 days for approval.
Step 3: Preparation of Supporting Documents: Before Block3 Finance can incorporate your company in China, you are required to provide KYC documents such as the names of directors and identification proof. Upon receiving the necessary documents, we will draft and notarize the company’s Memorandum and Articles of Association. We will also provide translation services for documents if required.
Step 4: Filing for Company Registration: A registered office is required under Chinese laws and will be provided by Block3 Finance. We will file for registration with the Ministry of Commerce (MOFCOM) and the State Administration of Industry and Commerce (SAIC). After approval, we will courier your certificate of incorporation, the company’s registration certificate, and other relevant documents.
Step 5: Apply for Relevant Business Licenses: Following setup, Block3 Finance will apply for a Chinese business license. With the new legislation, the “5-in-1” business license will include several permits: business license, organization code, tax registration certificate, social security registration certificate, and statistical registration certificate.
Step 6: Securing a Company Chop with the Public Security Bureau: After successful incorporation, we will register with the Public Security Bureau to secure a specialized company chop for your business. This chop will be needed to authorize legal and corporate documents.
Step 7: Opening a Corporate Bank Account: After registration, Block3 Finance will assist you in opening a corporate bank account with reputable banks in China, such as the Bank of China, Industrial and Commercial Bank of China, or China Construction Bank. This process typically takes 4 weeks, and directors and shareholders do not need to travel.
Once your account is opened, we will courier the internet banking token and access codes to your preferred address.
Step 8: Register with the Tax Bureau: We will help you register with China’s Tax Bureau to obtain CFO verification and other taxation-related information.
Step 9: Meet Financial Reporting and Taxation Obligations: After your company is set up, Block3 Finance will provide accounting and tax services to ensure compliance with all regulatory obligations. Corporate tax is 25%, with VAT ranging from 9% to 13%, depending on your business activity.
Types of Companies in China
China offers several business entity options for foreign investors, each with distinct levels of liability protection, tax ramifications, and compliance requirements. The most common entities include:
Wholly Foreign-Owned Enterprise (WFOE)
Joint Venture
Limited Liability Company (LLC)
Branch Office
Representative Office
Documents Required to Register a Company in China
Completed application form for company registration
Signed articles of association by all shareholders
Identity documents of all shareholders, legal representatives, and supervisors
Appointment documents for directors and senior executives
Documents confirming the use of the registered address
Pros and Cons of Registering a Company in China
Political: China’s political stability and membership in ASEAN provide business confidence, but the country ranks 78th in Transparency International’s Corruption Perceptions Index.
Economic: China’s fast-growing economy and large consumer market offer numerous opportunities, though the GDP per capita remains lower than other global economies.
Social: With a population of 1.4 billion, China offers a vast domestic market, but the language barrier (Mandarin) may pose challenges for foreign investors.
Technological: China’s growing tech industry, government support for digital solutions, and the launch of Project Bakong in the cryptocurrency sector offer new business opportunities.
Looking to Register a Company in China?
Contact us to find out more about how to register a company in China. Block3 Finance's expert team will revert within the next 24 hours to answer all your queries.
