We provide wholly foreign owned enterprise and fiscal trusteeship to assist you rapidly open the Chinese market.
1)wholly foreign owned enterprise:
The wholly foreign owned enterprise refer to the invested enterprise wholly funded and set up by foreign investors in mainland China and approved by chinese goverment in accordance with chinese laws and administrative regulations.
2) Fiscal Trusteeship:
The enterprise will entrust the financial accounting,foreign fiscal and taxation declaration to professional bookkeeping agency for completion, this company only need to set up the cashier position which is responsible for the daily balance of revenue and expenditure business and property custody.
The difference between the representative offices and foreign invested companies:
(1) main entity qualification and assumed responsibility are different
A. Representative offices are not independent legal entity, It is being ineligible to conduct foreign business operation and only used for liaison as the parent company at home, all legal responsibility were undertook by the foreign parent company, chief representatives assume relatively heavy responsibility;
B, As the domestic independent legal entity, foreign invested companies voluntarily assumed all legal responsibilities borne by themselves and operate independently according to the scope of business, thereafter all the economic responsibilities were undertaken by the foreign account within the scope of the registered capital.
(2) different tax calculation;
A, The income tax of Representative office is calculated in accordance with all the expenses occurred by representative office itself, the more the cost, the higher the tax.
B The income tax of foreign invested company is calculated by the corporate profits, all the expenditures occurred before the tax according to the regulation of the law.
(3) Different human relations
A. Relevant employee of representative office must recruit talent through foreign service and other human service agencies, and paid corresponding expenses related to service;
B, The foreign company can enroll employees themselves and this can also be done by foreign service and other talent service agencies.
(4) Different nature of the office
A representative office must be the foreign one that has filed in the public security organs.
B, foreign invested company or the office are not subject to the requirement, and only commercial office properties is allowed.
(5) Different requirements of registered capital
A, Representative office is not subject to the requirement of the registered capital;
B, The registered capital of foreign invested company is different, according to different types of company and capital injection can only be done within the limited period for business operation.