Recently, we got a message from government that: since October 1st, the Industry and Commerce Bureau and Social Insurance Bureau will share the informations of registered Companies together.
As a result, we can predict that:
since October 1st, to register a company, you may be required to buy Social Insurance for employees!
That means:
1. To register a company, you will need to register Social Insurance informations at the same time, and pay the Social Insurance Fee for the employees.
2. The Industry and Commerce Bureau will share the list of all enterprise with the Social Insurance Bureau, and by messages & announcements, the Social Insurance Bureau will inform and urge the enterprise to buy Social Insurance for employees.
3. Enterprise which have never bought Social Insurance shall pay Social Insurance Fee for at least one person each year, and the amount will increase each year.
4. Enterprise which only hire foreigner also need to buy Social Insurance, and the basic amount is higher. The minimum wage for foreigner is 4,800 RMB, and the Social Insurance Fee is 1,800 RMB/month.
These years, the cost of operating a company is getting higher and higher, and it's also more and more difficult to get a visa, so if you want to make business in China, HACOS suggest that you'd better start as early as possibles.
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HACOS,Business Services Solutions Master
