The city of Sanya began to plan the
establishment of a creative industry park in 2003 and formally started the
construction of the park in 2007. It stretches to the east of Nanshan Port Road
in the east, coast of Yazhou Bay in the south, Ningyuan River in the west and
the West Line Expressway in the north, covering 17.2 square kilometers
(including 12.65 sq km on land).
It is planned to accommodate 60,000
people. Sanya Comprehensive Bonded Zone and the Shenzhen-Sanya Industry Park
are expected to settle in the Sanya Creative Industry Park.
Currently, 10 billion yuan ($1.51
billion) has been invested in the park. The governmental investment accounted
for 40 percent while the rest were raised from the society. A total of 50
companies registered at the park and 21 of them brought 23 investment projects
to the park. About 2,000 people currently work in the park.
Tenant enterprises in the park include
ZTE, Seentao Technology, Kingto, Yanglin Grease, Biotech Pharma and Xisha Noni
and cover a wide range of industries, such as telecommunication, internet-based
education, health care, tropical biotechnology and yacht maintenance. Sixteen
tenants like as ZTE, Yongyou Seento, Biotech Nano and Guokang Hospital
have started construction (four of them have been completed).
The park welcomes projects involving
industries as follows：
High-tech and internet industry： IT, software development, Internet
plus, e-commerce, cloud computing, biotechnology, nuclear energy development
and application, intelligent terminal equipment R&D and production.
High-end tourist equipment manufacturing
and service industry: yacht and sailboat assembly and services, marine research
and development services, rare marine biological cultivation and display and
general aviation services.
Headquarter economy: headquarters of
small and medium enterprises, the regional headquarters of large enterprises,
the time - sharing headquarters and the settlement center.
Hospitals, schools, conferences,
commerce and other supporting industries.
To facilitate people who want to invest
and set up business in Sanya Creative Industry Park, 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 Holding Company.
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 Sanya Creative Industry Park
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