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How’s Company Registration in SH Different from Last Year?
FAQ | How’s Company (WFOE) Registration in Shanghai Different from Last Year?
1. How are the policies different in 2020?
Firstly, the Commercial and Industrial Bureau canceled the Approval letter for the foreign investment, so there’s no longer a need for one.
Secondly, when opening a bank account (which is usually necessary for company registration), an actual office address is required. To be cost-effective, renting a shared office space is also acceptable.
2. What materials are needed for company registration in Shanghai?
1) Passport or ID information of the legal person and supervisor.
2) Phone number, email address.
Firstly, the Commercial and Industrial Bureau canceled the Approval letter for the foreign investment, so there’s no longer a need for one.
Secondly, when opening a bank account (which is usually necessary for company registration), an actual office address is required. To be cost-effective, renting a shared office space is also acceptable.
2. What materials are needed for company registration in Shanghai?
1) Passport or ID information of the legal person and supervisor.
2) Phone number, email address.
3) Other required documents
3. How much money do I need to invest?
When registering a company in Shanghai, it is not necessary to invest an amount of capital in the registration phase. Generally can setup the amount of register capital bases on the budget of company initial launch before having actual sale.
4. Is an actual office address required before registration?
When registering a company in Shanghai, you do not need to rent an office beforehand, you may use a virtual address to register.
If you run a food & beverage related business, you need an actual office address and also need to apply for the Food distribution License (食品流通许可证).
5. What business scope restrictions are there for company registration?
There are restrictions on financial and educational areas.
Other categories are generally acceptable, such as trade, consulting, art, etc. You may consult with our consultants for details.
3. How much money do I need to invest?
When registering a company in Shanghai, it is not necessary to invest an amount of capital in the registration phase. Generally can setup the amount of register capital bases on the budget of company initial launch before having actual sale.
4. Is an actual office address required before registration?
When registering a company in Shanghai, you do not need to rent an office beforehand, you may use a virtual address to register.
If you run a food & beverage related business, you need an actual office address and also need to apply for the Food distribution License (食品流通许可证).
5. What business scope restrictions are there for company registration?
There are restrictions on financial and educational areas.
Other categories are generally acceptable, such as trade, consulting, art, etc. You may consult with our consultants for details.
6. After registration is completed, what else is there to be done?
One needs to complete tax registration of the company as soon as possible.
Tax issues are extremely important to a company, if a company completes registration but fails to complete tax registration and monthly tax reports on time or delayed for too long, they may be blacklisted by the Commercial and Industrial Bureau. If you have a work visa under your own company name, you will also be unable to extend it the following year.
One needs to complete tax registration of the company as soon as possible.
Tax issues are extremely important to a company, if a company completes registration but fails to complete tax registration and monthly tax reports on time or delayed for too long, they may be blacklisted by the Commercial and Industrial Bureau. If you have a work visa under your own company name, you will also be unable to extend it the following year.