REPRESENTATIVE OFFICE (RO)
Representative offices are relatively easy to establish compared with other FIEs. ROs can provide foreign companies with a presence in China but are not separate legal entities from their parent company.The activities that ROs are permitted to carry out are limited to liaison work, relationship building and other related activities. ROs are restricted from direct trading or distribution activities in China, and are not allowed to issue invoices or receive payments.
JOINT VENTURE (JV)
In a JV business arrangement, participants (Chinese investors and foreign investors) create a new entity or official contractual relationship. The investment, operational expenses, management responsibilities, profits and losses are shared between the parties. JV's remain the only way to register in China if the business activity in which it will operate remains controlled by the government such as buildings and construction and car manufacturing.
WHOLLY FOREIGN-OWNED ENTERPRISE (WFOE)
WFOEs are legal entities in China that are 100% funded by foreign investors. A WFOE can provide foreign investors with complete autonomy as well as increased protection of their intellectual property in accordance with international law.By providing investors with complete domestic retail and wholesale distribution rights, WFOEs remove the operational risk that arise from having a Chinese partner in many industry sectors. As a consequence, WFOEs are the most popular type of FIE currently used by international investors.In addition to conducting sales, marketing, consulting, trading, warehousing, manufacturing and delivery services in China, a WFOE can also issue official invoices and sign commercial contracts.
Accounting Bookkeeping
All foreign-invested companies in China are required to prepare annual financial statements, including balance sheets and income statements for their annual Chinese audit (conducted by a CPA registered in China). RMB is the base currency used for ledgers and financial reports. For companies using currencies other than RMB in their business transactions, that foreign currency can be used as the bookkeeping base currency. However, the financial reports are required to be shown in RMB. Furthermore, accounting records have to be maintained in Chinese. Foreign-invested companies can use only Chinese in financial reports for regulatory reporting purposes, companies can choose to convert the Chinese financial reports to internal management reports in other languages for group reporting purposes.
Fapiao Invoice Management
According to PRC law, any business transaction carried out in Mainland China requires a fapiao. More than just an official receipt with a distinctive red oval seal, a fapiao is a tax invoice designed to ensure the government receives tax payment. A significant portion of small to medium-sized companies conduct certain sales under the table and remain reluctant to issue fapiaos since they are liable for taxes on profits for all transactions in which a fapiao is issued. However, for those purchasing goods and services, fapiaos are essential for claiming value-added tax refunds and lowering tax liability.
Treasury and Banking
we can handle the Traditional and e-Banking Processing,Bank Transaction Filing,Cross Boarder Payments ,Reimbursement Claims,Declaration Reporting for Foreign Currency,Bank and Petty Cash Reconciliation,Signatory and Approval Services
Our Skills
Starting a company in China is a complex matter, requiring Business Registration, Financing, Merger & Acquisition, Tax & Accounting, Legal Services, Patent, Copyright, Trademark, Governmental relations. So, how to solve each step efficiently with the simplest method? That's our skill to solve various complex problems for you with the simplest straight line.
Main skills we will show you as below
Even if we can do many things for you,but we have focused on the four skills for so many years.