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Business Advisory

 

 

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

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Closure of business

  • Standing in the liquidation committee
  • Performing liquidation audits
  • Advising on equity or asset transfer
  • Assisting in the tax audit by the tax bureau
  • Performing tax clearance procedures
  • Closing bank accounts
  • De-registering with relevant bureaus

 

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