Sanya’s
new airport and the airport economic zone will be developed in phases with a
planned area of 33.43 square kilometers, including a 24-sq-km seaport operation
area, a 4.18-sq-km international tourism business district and a 5.25-sq-km
area for the airport’s supporting industries.
Port facilities, a
home port for cruise liners, logistics warehousing,
high-technology research and development, bonded duty-free zone, international
trade and financial services are expected to be launched at the park.
The seaport operations area will be home to industries involving
aviation, an international trade port and cruise home port and will invite
enterprises engaged in airport operation, aircraft maintenance, aviation
logistics, aviation food, fueling, airport facilities, international shipping
to settle in it.
The international tourism business district will allocate
clusters involving financial and commercial services, international tourism
businesses, international headquarters and sci-tech innovation and maritime
Silk Road cultural exchange and cooperation.
The airport supporting industrial zone will hold a comprehensive
bonded zone, aviation logistics park, airline base, transportation hub and
public service providers, covering the industries of office building, commerce,
production, to logistics, processing, and other supporting service for daily
life.
To facilitate people who want to invest
and set up business in Sanya Phoenix Airport 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)
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