Nowadays, more and more people try to start up their business and dream about a successful entrepreneurial career in China.
However, beside from company registration, what else should you do at the very beginning? What should you pay attention to?
Here, HACOS will show you! ↓↓↓
Actually, getting business license is just the first step to start your business. You also need to deal with at least 5 procedures as followed:
1
Open A Basic Bank Account
Choose only one bank to open a company basic account after registration. A basic bank account is primary for operative activities including capital transactions, transfer settlements, cash receipts and payments, and tax settlements.
2
Accounting
Since one month after the establishment, monthly bookkeeping and tax returns are necessary.
According to country’s law and regulations of Tax Bureau, enterprises must track their expenses and report to the Bureau before the 15th every month, no matter there is taxable income or not. Otherwise, enterprises will be punished!
Worse still, ID information of the company’s owner will be recorded in the “Blacklist”, leaving a negative impact on loan credit that limits reinvestment and makes it much harder to go abroad.
Thus, in consideration of cost saving, you’d better ask a professional bookkeeping agency for help.
3
Social Insurance for Employees
After finishing registration, you need to take company official seal, photocopy of Business License and ID card to the Social Insurance Bureau, then fill out social insurance declaration form for insurance participation. Later on, fees for insurance will be deducted from your bank account.
In accordance with law, each company has an obligation to pay social insurance for employees. Any employer who refuses to set social benefits for employees will incur a correspondent penalty.
4
Corporate Annual Reports
According to the regulation, enterprises must submit their corporate annual reports to the government during Jan. 1st to Jun. 30th every year.
Any enterprise fail to submit its annual reports on time, it will be imposed a penalty and recorded in the "Catalogue of Enterprises with Irregular operation".
If so, alteration, cancellation and share transfer of the enterprise will be prohibited. Meanwhile, the executive and the legal representative will subject to administrative restriction.
No annual report for more than 3 years?? Well, "Blacklist" is waiting for you!
5
Tax Supervision and Invoice
Before issuing corporate invoice, the enterprise should apply for a Fiscal Processor and take training courses of tax-supervising. Or, going to the Tax Bureau for issuing invoice on behalf of your enterprise is also another choice.
Starting up a company is something you should be serious about and persist in, any misunderstanding or misconducting is unaffordable. So once you make up your mind to engage in entrepreneurial career, each detail in your business must be taken full consideration.
If there is any doubt,
welcome to contact HACOS,
we will offer you the most professional services!
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