BRIGHTURE

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Business Services

"Our team will assist you in negotiating with your local office, apply the appropriate reporting method for your WFOE and submit the monthly and quarterly tax reports. We can also advise on tax planning opportunities to minimize the tax burden on your company and staff."

Business registration and set-up

WFOE (Wholly Foregin Owned Enterprise)

Foreign investors must retain a PRC entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authority on behalf of the foreign investor.

Brighture can help with all the procedures of setting up a Wholly Owned Foreign Enterprise in China, which include the following:
 Name registration with State Administration of Industry and Commerce (SAIC)Certificate of Approval by Ministry of Commerce or Foreign Economic Cooperation BureauApplying for Business License with SAIC Chops made by Public Security Bureau (PSB)Organization Code Licensing by Technical Supervision Bureau (TSB)Obtainment of Tax Certificate by Taxation BureauRegistration and Approval with State Administration of Foreign Exchange (SAFE)Opening Foreign Currency and RMB accountInjecting capital from investor’s oversea accountCapital Verification Report by Certified Public AccountantApplying for Permanent Business License with SAICFinancial certificate registrationStatistics license registrationImport/ Export license (Applicable for Trading and Manufacturing WFOE only)

A wholly owned foreign enterprise must register with the local tax authority for tax reporting and apply for the official invoice book which will enable the WFOE to issue invoices to its clients domestically and abroad.

Once your WFOE is officially registered, we will maintain properly accounting records in accordance with GAAP and accounting standards in China, and report taxes in both monthly (for business tax, individual income tax) and quarterly (corporate and income tax) bases.

We will:
Update the books of WFOE in accordance with Chinese Accounting Standards
Prepare financial statements for tax filing purposes
File monthly Business Tax Return and Individual Income Tax Returns
File quarterly Corporate Income Tax Returns
Audit Financial Statements

  

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