Hainan
Laocheng Economic Development Zone (hereinafter referred to as the “Development
Zone”) was founded in May 1988 and was upgraded to a provincial development
zone by the National Development and Reform Commission in March 2006. The
Development Zone is adjacent to the Qiongzhou Strait in the north, Beibu Gulf
in the west, Haikou Meian Science and Technology Park in the east and Jinma
Logistics Park in the south.
It boasts the country’s fourth comprehensive free trade zone —
Haikou Comprehensive Bonded Zone, one of the 25 pivotal ports in China —
Macun port (a national first grade port) and a logistics service base of China
National Offshore Oil Corporation.
The planned area of the Development Zone is 571 sq km, including
a 117-sq-km in the central urban area. So far, a total of 53 sq km has
been developed.
The software and information service sector in Hainan
Eco-software Park are the top driving force for the Development Zone’s
industrial upgrading. The park opened in April 2011 and completed a
650,000-sq-m construction project and had another 650,000 sq m under
construction by the end of May last year. More than 920 enterprises including
Tencent, Neusoft, Chinasoft, Donghua Software, India’s NIIT have settled down
in the park. Six of them are the top 20 software and information service
providers on China’s A-share market.
The park has been identified as a national public service
demonstration platform for small and medium-sized enterprises, a national
science and technology business incubator and a national new industrialization
demonstration base. It has also been recognized as the first batch of
Hainan’s cultural industry key projects and cultural industry demonstration
parks.
To facilitate people who want to invest
and set up business in Hainan Laocheng Economic Development 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 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 Hainan Laocheng Economic Development Zone
No comments:
Post a Comment