Ten Things about Expats to Set Up a Start-Up in China


Work in China-Teacher Record

 

Want to be a boss instead of an employee? Want to earn more? Or are you just more adventurous and want to establish your own "turf" in China? Regardless of the reason, establishing a start-up in China is a good choice for you.

 

1. At first:

Rent an office - get an office rental certificate – submit it

 

2. Office for company registration:

ü A physical address

ü An actual location

ü The Chinese government will conduct a background check on it.

 

3. Set up entities in China:

ü For Joint Venture, like Automobile Manufacturer and Bank, expats should set up a company/enterprise with Chinese partners.

ü Expats can set up a Wholly Owned Foreign Enterprise (WOFE) only by themselves.

 

4. Investment capital:

No specific requirements

(We recommend you invest at least 100,000 RMB and transfer the amount into the company’s account with 10-20 years.)

 

5. Complete bookkeeping and tax filling:

ü Complete both of them within 1 month after the company has been established 

ü Report as “0 income” to the government if you do not run the company for a while (/no transactions)

 

6. Tax refund:

ü Be subject to export activities

ü Only those companies certified as general taxpayers

 

7. Co-working space:

ü Different companies work in a shared office

ü Save the costs

ü Assimilate in the community

 

8. Apply for a Work Visa without a Bachelor’s Degree:

ü Yes

ü Apply for a Z-VISA also depends on your credit/ability/working experience/certificates and so on.

 

9. Hire expats in China:

ü No more than 4 foreigners

ü The hiring should be done by the third-party agency, such as HR Firm.

 

10. “Fapiao”:

ü An official receipt proves that your company has paid the tax.

ü Necessary for companies’ bookkeeping and tax refund purpose.

 

 

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