Starting a Business In China |
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China is a land of opportunity with a rapidly-developing economy and infrastructure. Many international investors starting a company in China hope to reap the rewards of business in this emerging market. Although starting a business in China is complicated by the country's bureaucracy and cumbersome legal framework, the following is solid information which can assist those interested in starting a business in China.
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| 1. | When starting a business in China, note that a China company is the perfect gateway into China, particularly when supported with a China Virtual Office.
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| 2. | Despite the complexities of starting a business in China, global investors choose to do so to tap the huge opportunities on offer in one of the world's fastest-growing economies.
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| 3. | Those wishing to set up a company in China should note that it offers the best corporate banking facilities in Asia, including a multi-currency business bank account supported by the best internet banking platform in the world, with leading international banks such as HSBC, Standard Chartered and Citibank.
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| 4. | China is now the world's single largest recipient of foreign direct investments (FDI) among developing countries. This is a key reason why many foreign investors choose to set up a company in China. In some provinces, incorporating a China entity has become increasingly popular due to favourable local economic conditions.
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| 5. | Although starting a company in China is complex and lengthy, recent changes to Chinese company law have streamlined procedures.
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| 6. | Since its accession to the World Trade Organisation (WTO) in 2001, China has made considerable legal and regulatory progress. In short, investors starting a business in China now receive improved protection for intellectual property rights. Increasing numbers of investors are being encouraged to begin setting up a company in China.
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| 7. | When starting a company in China, note that the country has signed double taxation treaties with many countries, offering tax exemptions to entrepreneurs planning to incorporate a company in China.
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| 8. | China and Hong Kong signed a Free Trade Agreement, called the Closer Economic Partnership Agreement (CEPA) in 2004. The agreement has opened the Chinese market to Hong Kong-based businesses.
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Despite the obvious potential of China, investors wanting to set up a company in China should be aware of the many challenges which remain, including:
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| Contact Us | |||||||
For more information on forming a Company in China, email email@healyconsultants.com or call us in Singapore (+65) 6735 0120
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