"How do I start trading in China?" This is one of the hottest questions a business-minded person can ask. Since China is known for its cheap products, many people believe that China has strong business potential, especially in terms of trade. And trading WFOE is by far the best option to realize the business plan. 01 What is WFOE for trading? WFOE stands for "Wholly Foreign-owned Enterprise," which is one of the three major business structures that can operate in China. The other two types include joint venture (JV) and office (RO).After deciding to apply to trade a WFOE, you need to determine the scope of your business. In addition, you will be required to complete the registration process within 30 working days.02 How to register a trading company? China has its own unique way of allowing foreign enterprises, which is to determine the scope of business of foreign invested enterprises. For a trading foreign-invested enterprise, the Ministry of Commerce of China has stipulated the business scope in five aspects.·Trade Agent·Wholesale·Retail·Enfranchise·Export and importGenerally speaking, a registered WFOE needs to obtain a five-in-one business license, but import and export trading companies also need to obtain an import and export license.03 General steps to follow First, choose a location, rent an office, and register the address of the office.Then, determine a company name with English name and Chinese name and register it with the State Administration for Market Supervision (SAMR).After that, apply for a business license, and apply for import and export licenses and trade qualifications.04 Procedure after registration 1. Open a foreign bank account.2. Registered trademark intellectual property.3. Get the company seal from the Public Security Bureau.4. Go through tax registration. HACOSalways strive to provide our clients with more high-quality, efficient and considerate services, covering China visas, tax-planning, incorporation, financial consulting, global shipping, intellectual property, foreign trade services, legal consultation, etc. Scan the QR code below to get one-on-one consultation. Professional and helpful. Please feel free to contact us~
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