China Business Advice

China Business Consulting

We provide advice on the setup, handling and management of business structures in China. We support the setup, handling and management of business structures in China. Representative Offices (RO), Joint Ventures (JV), Wholly Foreign-Owned Enterprises (WFOE). WOFE (or WFOE) refers to a legal LLC entity under Chinese law which capital is 100% owned by foreign shareholders. WOFE stands for Wholly Owned Foreign Enterprise.

establishment of the first free trade zone (FTZ) in Shanghai In most cases, a company’s registered address must be a physical office which had already been established prior to the company’s registration. Virtual offices are generally not allowed in China. Companies are required to open at least two bank accounts, including a foreign currency capital account which is used for capital contributions from shareholders, and a Chinese Yuan (CNY) basic account which is used as a working account for daily payments and collections. Additional foreign currency or CNY current accounts may be opened if required. In general, it takes about one to two months to open a bank account.