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Convert Company
To convert the company at a certain point might represent a suitable option for those Foreign entrepreneurs who want to develop the business further in China.
Generally, Foreign Invested Enterprise in China is referred to WFOE (Wholly Foreign Owned Enterprise), or JV (Joint Venture) company, or RO (Representative Office), meantime you need to choose the different corporration industies for your company including Consulting company, Trading company, Technology company, Food, and Beverage company, as well Manufactory or Factory company, etc. The Wholly Foreign-Owned Enterprise is the most populare business structure for Foreign Investment Enterprises. For example, some Entrepreneurs might be interested in changing the WFOE into Joint Ventures, and vice versa. Some Enterpreneurs need to change the Legal Representative or shareholders, etc.
The most important part is to change the company’s register address. However, as a company’s business address is a part of its core registered information (along with its business scope, registered capital and company name), any change to this information is a complex process, comparable to set up a company. Moreover, if the Enterpreneur need to change the company address in other District or citys, it needs to conduct Tax Liquidation and open new account in other Tax Bureau.
GWBMA has a very experienced management team, we can provide all around service of Business Conversion in China.
CONVERT COMPANY
First-rate and All-round Company Convert Service
- Online Company Conversion Process
Just provide us the required documents and let us do the rest. - Fastest Filings Process
The fastest process takes only about 3 working days. - Change the company Legally
Our Attorney will file National Documents to overnement for your company. - Flat Fee Changement Services
It is easy for our clients to know upfront what their total expenses will be. - Simplifying the Conversion Process
Simplify the Chinese company Conversion process for our clients. - Comprehensive Management Service
A comprehensive range of additional business services.
Convert company procedure
To change your company needs 10-45 Working Days
China Corporate Structures
The advantage of 4 typical Foreign Invested Corporations
Wholly Foreign Owned Enterprise (WFOE)
- The most popular corporation structure
- Long-term permits (15 to 30 years)
- Control of highbrow residency
- Can construct assets in China
- Simple submission process
- No listed investment required
- Hire staff directly
Joint Venture Company
- Avoid Negative lists of WFOE
- Division of dangers and payments
- More government relations
- Higher access to local assets and affordable labor
- Reimbursement policies
- Simple management of trials
- Toughen industry’s value in the souk
Representative Office
- Fast production of an office
- Saves time as it is easier to meet up with the contacts
- Can hire foreign and local staff
- Have your own office in China
- No registered capital required
- Affordable and easy to use
- Fewer tax payments
Foreign Partnership Enterprise
- Tax incentives have been very effective
- Attract more potential investors
- Maximum benefit for the creditors
- Favorable investment structure
- Flexible profit mechanism
- Revealing new business opportunities
- Separation between Management power and Investment right
BASIC DOCUMENTS REQUIRED
Documents required to change company according to the different purpose
Business License
Obtaining a Business License from Government
Business Scope
Provide the approved business activity in the Business License
Articles of association
Company's articles of association (Basic Version in Chinese)
Stamps
Company stamp, Financial stamp, Invoice (Fapiao) seal and Legal Representative stamp
Foreign Trade Registration Certificate
Put it on record in the Commission of Commerce Bureau.
Inspection and Quarantine Registration
Inspection and Quarantine and put it on record in the Customs Bureau
Customs Registration Certificate
Apply for the Customs Registration Certificate in the Customs Bureau
China Customs E-port Ukey
China E-port Ukey (2 USB disks, one for the Legal reprensentatvie, one for Operator）
Extra service package after Company Conversion
Bank Account
RMB Company Bank Account / Company Capital Account / Foreign Exchange Account
TAX Bureau Disk
Golden Tax Bureau Disk （OfficialTax USB disk to issue invoices and the tax）/ Fapiao printing machine / Blank fapiao notes
Visa & Work Permit
Work visa is required for entrepreneurs who set up a company in China. After applying for a work visa, you must obtain a work permit and residence permit.
Social security account
Pension, Medical Insurance, Unemployment Insurance, Maternity Insurance, Work Injury Insurance and Housing Provident Fund for Chinese employees.
Frequently Asked Questions
Learn more about Company Conversion in China
Can I convert a WFOE (Wholly Foreign-owned Enterprise) to Joint Venture?
Yes, the key point is that the proportion of foreign investors shall be no less than 25% for Joint Venture Company.
What is the share proportion for the Foreign-Invested Enterprise?
- For the WFOE/WOEF, the foreign investor should have a 100% shareholder ratio to set up a wholly foreign owned company in China.
- For Joint venture company, at least one of the shareholders should be a foreign investor that the proportion shall be no less than 25%.
I haven’t rented an office yet, can I set up a company first?
When setting up a company in China, it is important that you need to find an office and the lease contract with the landload who provide the copy of the real estate license, and other related materials. It is necessary for company registration. Certainly, if you need help, we can help you to find the best office or provide the registration address in the Development Zone.
What is a Joint Venture company in China?
The Joint venture (JV) is a business entity set up by one or more citizens, corporations, or economic organizations cooperating with Chinese citizens, corporations, or economic organizations. That means the shareholders are from two or more nationalities. According to the Company Laws in China, the JV company is characterized by shared ownership, shared returns and risk, and shared governance. The point is, the contribution of capitals shall be converted to a certain proportion, and the proportion of the foreign investors shall be no less than 25%.
Who can be the legal Representative of Foreign companies?
Setting up a company in China requires a legal representative. The legal representative can be one Chinese or a foreigner. Besides that, the legal representative may be one of the shareholders, or it may be one of the persons from the appointment system (the position is the chairman, executive director, or manager). But the legal representative should not be the supervisor.
Can I change the name of my company in China?
Yes, you can. Just like company registration, firstly we need to submit the Prename Registration. After the change of the company name, we need also to change the account of the bank, Tax Bureau, Social Security, stamps, etc.
How to Change the company’s business scope?
The Chinese company law stipulates that an enterprise may not operate business beyond the business scope of the business license, otherwise it will face a fine. Therefore, you must first determine the main operations to ensure that the company can legally operate these industries.
What is the WFOE/WOFE in China?
Wholly Foreign-Owned Enterprise (WFOE or WOFE) refers to foreign enterprises, corporations, economic organizations, or individuals that are 100% owned and capitalized in China by foreign investors. Thus, the WFOE doesn’t include the Joint venture enterprises, Representative Offices, or the branches of foreign companies, etc. Most notably, unlike the other investment vehicles in China, the unique feature of a WFOE is that the involvement of a mainland Chinese investor is not required. That’s why the WFOE is the most popular corporation for Foreign Invested Enterprises (FIE).
What is the Representative Office in China?
Representative Office (RO) allows a foreign company to hire staff in China through their own legal entity. That means the RO is for the sole purpose of company representation. Starting up a RO in China is the fastest way to get an income at a lesser cost. However, not only the RO cannot part-take in any activities that cause them to gain returns, but also it cannot sign up any legal documents or charge a sales service fee from any customers.
What is a branch office? Is a branch company qualified as a corporate legal Representative?
A branch company refers to a company that sets up a business entity in a different registered area. It should be noted that the branch company does not have a legal personality, and cannot independently assume civil liabilities. Therefore, the parent company is responsible for civil liabilities.