Hainan
is the smallest and southernmost province of the People's Republic of China,
consisting of various islands in the South China Sea. Hainan Island, separated
from Guangdong's Leizhou Peninsula by the Qiongzhou Strait, is the largest
Chinese island and makes up the majority of the province. Hainan's economy is
predominantly agricultural, and more than a half of the island's exports are
agricultural products. Tourism plays an important part of Hainan's economy,
thanks largely to its tropical beaches and lush forests. For more information
about Hainan, please visit http://www.ehainan.gov.cn/index.html
Hainan
Boao Lecheng International Medical Tourism Pilot Zone is a world-leading green
city project which integrates medical services, wellness, pharmaceuticals,
scientific research, rehabilitation, senior care, and tourism in an area
dedicated to energy conservation and environmental protection. It is located at
the eastern side of Hainan Province (an island located off the coast of
Southern China), one of China’s top tourism destinations, having received
nearly 48,000 international and domestic visitors in 2014. The project is an
initiative of Hainan People’s Government and its goal is to become a world-class
medical and wellness destination before the end of this decade.
The
pilot zone covers over 20 square kilometers and is characterized by a beautiful
ecological environment, pleasant climate and abundant natural resources. The
crystal-clear Wanquan River moves placidly through the center of the project
site, forming a unique “water-island-farmland” that is ideal for leisure and
tourism.
The
pilot zone offers international investors a number of preferential policies
including:
Fast-track
approval for new drugs, technology and medical devices
Extending
up to three years the time foreign physicians are allowed to practice medicine
Allowing
100% foreign direct investment and ownership in hospitals
Reduction
of tariffs on certain medical devices and equipment
The
goal is for the Pilot Zone to become a leading medical and wellness destination
in the next 7-10 years with first-class healthcare infrastructure and services.
It is expected that in the next several years, 10% of overnight visitors to the
Pilot Zone will be medical tourists, accounting for 20% of Hainan’s tourism
industry revenue.
To
facilitate people who want to invest and set up business in Hainan Boao Lecheng
International Medical Tourism Pilot Zone, here is an introduction of Types of
business presence in China:
Before
starting up a business in China, you have to know what are the options. Foreign
Investors generally establish a business presence in China in one of five
modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign
Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong HoldingCompany.
WhollyForeign Owned Enterprise (WFOE) is a Limited liability company wholly owned by
the foreign investor. WFOE requires no registered capital and it's liability of
equity , can generate income, pay tax in China and it's profit could be
repatriate back to investor's home country. Any enterprise in China which is
100 percent owned by a foreign company or companies can be called as WFOE.
RepresentativeOffice (RO) is a Liaison Office of it's parent company. It requires no
registered capital. It's activities would be: product or service promotion,
market research of it's parent company's business, Quality Control liaison
office etc in China. RO generally is prohibited to generate any revenue nor
generating contracts with local businesses in China.
JointVenture (JV) is a Limited liability company formed between Chinese investor andForeign investor. The parties agree to create a entity by both contributing
equity, and they then share in the revenues, expenses, and control of the
enterprise. JV usually been used by foreign investor to engage the so called
restricted in areas such like: Education, Mining, Hospital etc.
SinceMarch 1, 2010: Measures of Establishment of Foreign Invested PartnershipEnterprises (FIPE) in China is taking effect. The regulation, which take effect
since March 1, 2010, are known as the Administrative Measures for the
Establishment of Partnership Enterprise in China by Foreign Enterprises or
Individuals. There's no required minimum registered capital for a Foreign
Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou,
Shenzhen, Hangzhou and rest cities of China
HongKong Company usually been used as a Special Purpose vehicle (SPV) to investMainland China. Hong Kong is one of the quickest locations to Incorporate a
business. Although a HK company is not a legal entity in Mainland China
(MainlandChina and Hong Kong, See Wiki 1 country, 2 systems), lots foreign
investors, especially investors from Europe and North America still chose to
setting up a Hong Kong company as SPV to invest China.
After
China's entry to WTO, most industries in China welcome foreign investment, WFOEsetting up in China becomes the first option of foreign investment's entitystructures instead of Rep. Office setting up in China. At the mean time, for tax
purpose, effective licensing system etc more and more investors use Hong Kong
as the holding company to invest China mainland, using this offshore company to
hold their operations in China.
Business
set-up in Hainan is a big project by itself, which requires financial and time
commitments, business management knowledge and China expertise. Identifying a
competent agent to manage the complex process will be a cost and time effective
way to avoid potential pitfalls . Tommy China Business Consulting has direct
connections in the local government
Since
2006, TCBC has been focusing on consulting services for our clients to invest
in Haikou, Sanya Hainan China. We are specialized in establishment of wholly
foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and
certificates for running business, negotiate and draft various legal documents
provide legal advice, negotiate government officer for Land acquisition. Advising
on formation of WOFE and business structures, managing and controlling WOFE in
Hainan China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get
you a business license in Hainan China. We offer a range of
company formation services including helping you to set up:
-Wholly
Foreign Owned Enterprises (WFOE )
-Joint
Ventures (Equity/Co-operative)
-Foreign
Invested Partnership Enterprises (FIPE)
Contact Tom Lee for company
registration in Hainan Boao Lecheng International Medical Tourism
Pilot Zone
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