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A GUIDE TO YIWU REPRESENTATIVE OFFICE REGISTRATION

更新时间:2016/12/16 9:11:52 来源:www.onobbb.com 浏览次数:1570

A GUIDE TO YIWU REPRESENTATIVE OFFICE REGISTRATION——86-755-82143181

http://www.onobbb.com/

1. OVERVIEW OF YIWU
Yiwu is located in Jinhua and Quzhou Basin, east of longitude 119 degrees 49 minutes to 120 degrees 17 minutes north latitude 29 degrees 02 minutes 13 "to 29 degrees 33 minutes 40", Zhejiang Province is located in the geographical center of the territory. East Dongyang, south sector Yongkang, Wuyi, west Jinhua, Lanxi, north Zhuji, River. To the provincial capital Hangzhou hundred years. City throughout the east, south and north by mountains on three sides, north to south and 58.15 kilometers from east to west 44.41 kilometers wide. Yiwu market, a pearl of China and strive to improve the investment environment, in order to provide favorable conditions for foreign investment. Yiwu City Foreign Trade and Economic Cooperation Bureau has also prepared a "Guide to Yiwu investment projects", and actively promote the industrialization of China Merchants.

2. REPRESENTATIVE OFFICE DEFINITION
Representative offices of foreign enterprises, also known as the foreign (regional) enterprise permanent representative offices, foreign enterprises to set up in China, on behalf of the parent company for business communications agencies. Its formalities and follow-up management are simple and fast.Thus, setting up an representative office is a better solution for some foreign-funded enterprises entering China just to test the market.

3. THE REPRESENTATIVE OFFICE NAME
The Yiwu government has a name format for anyone who wants to setup a RO in China, the format is:
country (area) + the parent company’s name + Yiwu representative office.
In China, only Chinese company names are officially used, while English names are for reference only. Any names are subject to the approval of relevant authority.

4. THE REGISTERED CAPITAL
The Representative Office is a business communications agency so that it is no registered capital requirements.

5. THE PRIVILEGE AND FUNCTION OF RO
1. The RO enjoys a great popularity among foreign investors because of its easier setup & management. Unlike Joint Venture(JV) and Wholly Foreign Owned Enterprises (WFOE), representative offices are not required to meet stringent requirements for items such as corporate structure and capital injection;
2. A RO can handle market research, sourcing, project investigation, quality control for parent company, liaison with customers and suppliers;
3. A RO can open bank accounts and employ staff for above- mentioned purposes;
4. Apply for work permit and residence permit;
5. A RO is still subject to tax liability, so monthly tax return should be carried out regularly.

6.OPERATION PROCESS
1)、Commissioning process:
Fill power of attorney (signed agreement) Pay the advances Submit the documents  Check the data Submitted to government departmentsinform the processfinish within 25-40 working daysNotice guests to receive dataPay the balanceSign.
2)、Government Process:
Trade and Industry Bureau Bureau of Public Security Quality and Technical Supervision State Taxation Bureau Local Taxation Bureau.
3)、Client process:
Determine the chief Yiwu officedeal with the certification of the government and china embassy submit the bank reference letter(also needs certification of the government and china embassy) Commissioned  signed agreement Pay the advanceswait for finish Pay the balanceSign.

7. INFORMATION REQUIRED
1). Copy of the business license or certificate of incorporation of parent company; documents indicate the directors and shareholders; copy of M & A;
2). The original and copy of identification documents (ID card, passport) of chief representative, and five color photos and resumes;
3). Appointment letter to the representatives and authorization letter to the relevant person from the parent company to sign in the application documents;
4). Original bank reference letters (from investor's bank) indicating foreign investors' creditability issued by the bank within 6 months;
5). Both the residence address and commercial office address can be available for the Ro formation, but the lease of commercial office between lessor and lessee needed to be endorsed by the Housing Management Authority is necessary if the representatives need to apply for the working visa.

Note: The documents above-mentioned from 1 to 4, should be legalized by the local lawyers or notarized by the relevant government departments, and finally endorsed by the local China Embassy or Consulate.

8. TANNET SERVICES
1)TANNET’s Process: submit all the needed documents→ apply for the business license and working card→ go to the public security bureau for stamp-make→ apply for Organization Code License &IC card→ apply for Registration license of the National & Local Tax Administration→ open the bank account. 
2)Service Items include: a. Business license; b. Registration license and form of the Local & National Taxation Bureau; c. Seal carving registration card; d. Organization code License & IC card; e. Three stamps; f. Working card;
3)Service charge: RMB7,800. Including the government fee.
4)Time needed: If all the informations are ready,Processing time is 45-60 working days.
5)Terms of Payment: The applicant can pay by cash, check or T/T to TANNET’s bank account before the service begins. 

9. TAXATION 
According relevant regulation of China, tax of RO can be formulated as follows:
Income tax of RO=Expenses/ (1-15%)*10%. 
Income tax for enterprise= Expenses/ (1-15%)*10% *15%.  

10. BUSINESS FOLLOWUP
TANNET can provide a series of business follow-up services such as monthly bookkeeping and tax return, license annual return, internal auditing, financial planning and tax layout, China policy & market study, investment portfolio and Pre-IPO services. Other services include domain name registration, webpage design, website promotion, China trademark registration, work permit, residence permit, internet promotion, etc. in order to pave a smoother and wider way for your China business success. 

11. TANNET ADVANTAGES
1. TANNET has established a global service system with 38 branches and 3000 cooperators worldwide, as well as in excess of 30,000 reliant clients globally. You can find one TANNET always beside you.
2. TANNET is staffed with a strong professional team of lawyers, accountants, engineers, designers and consultants providing tailor-made and all-in-one outsourcing services.
3. There is a B2B business brain base available for the international buyers and sellers of SMEs, www.ono-bbb.net.
4..TANNET is the best partner with international banks, financial institutes.
5. TANNET is in conformity of the standard of ISO9001/2008. That means the service quality is guaranteed.

12. IMPORTANT HINTS
1. Because of language difference, all the documents submitted to the Chinese government should be translated into Chinese and endorsed by TANNET, the appointed translation agency.
2. TANNET is responsible to inform the clients for the collection of the company kit at the designated office. If the client fails to collect the company kit within the mandatory three month period without reasonable excuse, the client will be regarded as giving up the right to the registered company; TANNET can dispose of the company as it wishes.
3. Make sure to get the formal invoice from the lesser after leasing is done.
4. The follow-up services are not included in the service package, and are subject to further expenses according to the clients’ requirements.

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登尼特公司电话:86-755-82143181  传真:86-755-82143182
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