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WFOE
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WFOE
Management Structures of a WFOE Part 2
by Richard Hoffmann This is the second of an two part article series about the management structure of a Wholly Foreign Owned Enterprise(WFOE) in China. Read about the General Manager as well as about the Legal Representative and their duties....
The Management Structure of a WFOE
by Richard Hoffmann There are a lot of aspects one has to consider, when setting up a WFOE in China. Choosing a board of directors or better an Executive Director? A Board of Supervisors or only one? And what would be their duties?...
4 Steps to liquidate a wholly foreign owned enterprise
Going through liquidation is a complex and often long lasting process. Failure to comply with existing regulations might result in severe legal consequences for shareholders. These are the most important steps to consider when closing a wholly foreign owned enterprise....
How to change a RO into a WFOE
By Richard Hoffmann Establishing a Representative Office (RO) is one of the easiest, fastest and cheapest ways of entering the Chinese Market. For certain activities a RO might be the right choice, for others however, it is a waste of...
How To Set Up a WFOE in China: The Most Important Steps
By Richard Hoffmann, ECOVIS Beijing When starting a business in China, many choices have to be made. One of the first tasks is to determine the entry strategy and decide on the legal structure. Do you want to enter China...
Buy Assets Now to Save Taxes – The New “Shortened Depreciation”
By Grace Shi, ECOVIS Beijing China By adopting the new shortened depreciation method, companies in certain industries can ease the financial burden of asset acquisition. (more…)
Tax Exemption Now Available for Companies with Annual Revenue of Up to 200,000 RMB!
By Richard Hoffmann, ECOVIS Beijing China Always paying too much taxes? China has raised the upper limit of tax exemption for small companies from 100,000 to 200,000 RMB total annual revenue. (more…)
China’s Corporate Income Tax Update: What You Need to Know
By Richard Hoffmann, ECOVIS Beijing China Watch out! China’s new regulations on corporate income taxation regulate inter-company expenses. Learn how to manage payments from related companies to avoid paying too much taxes. (more…)
Seminar about Individual Income Tax, Social Insurance and Private Pension
By ECOVIS Beijing On the 17th of March 2015, Ms. Manuela Reintgen from ECOVIS Beijing and Mr. Klaus-Peter von der Eltz from Expatriate Care Consult held a seminar on individual income tax (IIT), social insurance and private pension, organized by...
An Interview with Erlkönig China: The Automotive Industry in China
By ECOVIS Beijing On Wednesday, 16th of July 2014, Mr. Sven Hundhausen, Director of Erlkönig China held an interview with Mr. Constantin Colberg, Senior Associate at ECOVIS Beijing, about the automotive Industry in China. Current issues such as market entry...
10 most likely mistakes while setting up a WFOE [2/2]
By Manuela Reintgen and Michelle Yan, ECOVIS Beijing Setting up a Wholly Foreign-Owned Enterprise (“WFOE”) in China requires full commitment. You can’t just do it alongside, it has to be carefully planned and many things have to be taken into...
10 Most likely mistakes while setting up a WFOE [1/2]
By Manuela Reintgen and Michelle Yan, ECOVIS Beijing Setting up a Wholly Foreign-Owned Enterprise (“WFOE”) in China requires full commitment. You can’t just do it alongside, it has to be carefully planned and many things have to be taken into...
Company set-up in the Chinese tourism industry
By Richard Hoffmann, ECOVIS Beijing From 1949 until the early 1970s, the People’s Republic of China was a closed country and only selected foreign visitors were allowed to enter China. During that time, many Chinese nationals were not allowed to...
Good Potential for Investment: The Wuqing Development Area
By Richard Hoffmann, ECOVIS Beijing China The Wuqing Development Area was established by the State Council in 1991. It is both the State-level Economic and Technological Development Area and State-level Hi-tech Industrial Park. Its total planned area is 93 km2 and it...
Company Liquidation: A comprehensive guide on how to proceed [2/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing China Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow....
Company Liquidation: A comprehensive guide on how to proceed [1/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing China Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow....
Case: VAT Refund China – VAT Reform – Deadline March 31st 2014!
by Richard Hoffmann, ECOVIS Beijing China The deadline for the VAT refund in Beijing is approaching fast – just 2 months left until March 31st, the last day in which companies can apply for it. (more…)
VAT China – How does it work for inter-company services
By Richard Hoffmann, ECOVIS Beijing China The following email inquiry from one of our readers will bring light into the darkness of pilot services applicable to VAT in China. A big foreign company group “The Group”, faces increasing inquiries from...
How to set up a Representative Office in China
By Richard Hoffmann, ECOVIS Beijing China If you want to enter China, you should pick the right entity which will allow you to do all the business related activities you want. For certain activities a Representative Office (RO) will be...
The ECOVIS Doing Business in China Guide 2014 is here!
By Richard Hoffmann, ECOVIS Beijing China The ECOVIS Doing Business in China Guide 2014 is here! A comprehensive & complimentary guide for potential and current investments in the Chinese market, providing you with a head start on your way to...
Enterprise Investigation Reports by ECOVIS Beijing
By Richard Hoffmann, ECOVIS Beijing China As the fastest growing market, China is becoming more and more important for foreign investors and creditors. But due to cultural as well as governmental differences, the generation of information about a potential investment...
Annual Compliance Review in China
By Richard Hoffmann, ECOVIS Beijing China There have been several changes in 2013 for foreign companies, which are active in China due to the various newly introduced laws and regulations. For instance, the VAT reform has a big impact and...
6 Steps to set up a WFOE Branch
By Richard Hoffmann, ECOVIS Beijing China Setting up a Wholly Foreign Owned Enterprise (WFOE) can be a lengthy and complex process. Once a WFOE is set up, opening up branch offices is the easiest way to expand and much less...
5 Steps to liquidate a WFOE
By Richard Hoffmann, ECOVIS Beijing China Going through liquidation is a complex and often long lasting process. Failure to comply with existing regulations might result in severe legal consequences for shareholders. Most important procedures for WFOE-Liquidation Reasons for liquidating a...
Starting business in China – in brief
By Lily Gao and Richard Hoffmann, ECOVIS Beijing China Setting up a business in China can cause a lot of anxiety for the unprepared. The following article addresses some of the possibilities for foreign investments in P.R. China and...