The Notification of Establishing Foreign Invested trading Enterprise in Shanghai

By labourxi • September 3rd, 2010

The Notification of Establishing Foreign Invested trading Enterprise in Shanghai 

Establishment Procedures We will Go Through

 Step 1

  1. Apply for the approval of the name of the new company
  2. Register the office lease contract of the new company
  3. Apply for the approval of the Articles of Association for the new company
  4. Apply for the Certificate of Approval
  5. Apply for the Business License and IC card

 Step 2

  1. Carve relevant chops according to the requirement of the new company
  2. Apply for Enterprise Code Certificate and IC card
  3. Apply for Foreign Exchange Registration Certificate and IC card
  4. Arrange the Foreign Exchange Capital Account for the capital contribution into the new company
  5. Arrange other bank accounts, foreign exchange and RMB, according to the requirement of the new company
  6. Apply for Tax Registration Certificate
  7. Apply for Financial Registration Certificate
  8. Arrange for capital verification and obtain Capital Verification Reports after the registered capital is contributed completely.
  9. Update Business License after the registered capital is contributed properly and completely
  10. Apply for Customs Registration Certificate and IC card
  11. Apply for Statistics Registration Certificate
  12. Apply for Customs Electronic Port Registration
  13. Apply for Commodity Inspection Registration  

Step 3

  1. Apply for Import-Export license
  2. Apply for Qualification of General Taxpayer 

It normally takes around 80 working days to accomplish the above-mentioned missions on the basis that all the documents and materials needed are properly prepared in advanced and passed to us without any delay. The documents and materials needed for the establishment of the new company are mainly as follows and we will specify any document required by relevant authorities not on the following list, if there will be, and make clear to you as soon as possible. 

Estimated Time Schedule

  1. Obtain the certificate of approval and business license        1.5 month
  2. Obtain post-establishment certificates                       1.5 month
  3. Apply for import-export license and general taxpayer qualification (optional)             1.5 month 

Documents and Materials to Be Provided by the Investor 

Besides all the forms need to be signed, the following documents shall also be provided by the investor for the establishment of a new company 

  1. The copy of the investor’s business license which should be confirmed by Chinese consulate (2 original)
  2. Two original credit letters in duplicate issued by the investor’s account-opening bank(2 original)
  3. Copy of I.D. document of the legal representative of the investor with his or her signature, passport preferred.
  4. Two original Power of Attorney in duplicate to authorize a certain person to sign relevant documents related to the establishment of the new company and the application of the business license ( if there is)
  5. Copy of I.D. document of the authorized person mentioned above with his or her signature, passport preferred (if there is)
  6. Appointment Letter for the board members of the new company(or just for the executive director if there will not be a board), which shall be made and signed by the investor
  7. Copies of I.D. document of the legal representative and all the board members(or just executive director) of the new company with their signatures, passport preferred
  8. Brief resumes of the legal representative and all the board members of the new company
  9. Two photos of the legal representative of the new company
  10. Brief introduction of the investor mainly including the registered capital, registered address, legal representative, business scope, market share, sales volume and business relation with China, etc
  11. Some information about the new company including its registered capital, total investment, major market, sales prediction and warehousing plan, etc
  12. The name of the new company both in English and Chinese
  13. Three Feasibility Study Report, whose initial version shall be provided by us for your reference and all signed by the investor(or we provide the report)
  14. Three Article of Association, whose initial version shall be provided by us for your reference and all signed by the investor (3 original) 

Please be noted that the new company must apply for the General Tax Payer Qualification when the financial staff is available and before it begins to merchandize cargoes. We do not list this application on the above mission list since according to the requirement of the Tax Bureau; some applications of General Tax Payer Qualification shall be handled by enterprise itself.  However, we can assist the new company in obtainment of this Qualification of General Tax Payer and Import-Export license.

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