China has been one of the most attractive areas for foreign investors, especially since the accession to WTO. As a result of the government effort to improve the investment environment, rules and procedures for setting up, maintaining, and closing a business in China have been significantly simplified. Yet, the practical procedures are still bureaucratic and sometimes burdensome and time-consuming. Our business service team at Russell Bedford Hua-Ander is familiar with the procedures of setting up and maintaining businesses in China, whether the business is a representative office, a joint venture or a wholly foreign owned enterprise.

Business setup

• Preparing and filing documents for initial application for setup
• Applying for business license
• Opening bank accounts
• Performing capital verification (no need for rep offices)
• Registering with tax bureaus
• Assisting in tax assessment with tax bureaus (rep offices only)
• Registering with administration of foreign exchange
• Registering with other official departments
• Applying for work permit for expatriates
• Registering expatriates with local tax bureau

Change of business (increasing investment, changing shareholders, changing office location, or changing legal representatives)

• Preparing and filing documents for initial application for change(s)
• Renewing business license
• Re-registering with relevant bureaus

Annual examination

• Preparing and filing documents for annual examination with various bureaus (companies only)
• Performing year-end tax audit and tax clearance filing (rep offices only)
• Performing annual foreign exchange review (companies only)

Assistance in foreign exchange (FX) transactions

• Registering FX loans with the State Administration of Foreign Exchange (SAFE)
• Performing approval procedures for remittance of loan repayment, service fee, dividend, etc to overseas entities