One-stop services for foreign investing in Chongqing China, offer business setup consulting, company registration, accounting services, foreign investment legal services in Chongqing

Once an old industrial base, Chongqing has rapidly emerged as one of the fastest growing and fastest urbanising cities in China and, according to some reports, the world. Located in China’s west, the municipality of Chongqing boasts a population of over 30 million (one of the largest in China) and a GDP growth rate of 11% year on year (also one of the fastest of China). It is also the centre of China’s ‘Go West’ Strategy which has created a unique business and investment environment for foreign companies. Despite its profile, Chongqing still remains largely unknown to the West who often look to Beijing and Shanghai when entering the China market. For foreign companies wanting to launch into the China market, we believe that Chongqing should be there next destination.  

Click here for Chongqing Business Setup Foreign Investment Environment 

To facilitate people who want to invest and set up business in Chongqing , here is an introduction of Types of business presence in China: 

Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.

Wholly Foreign Owned Enterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.

RepresentativeOffice (RO) is a Liaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.

Joint Venture (JV) is a Limited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.

Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in China istaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and rest cities of China

Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.

After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.

Business set-up in Chongqing is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government

Since 2006, TCBC has been focusing on consulting services for our clients to invest in Chongqing China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Chongqing China, drafting privacy policies and structuring commercial transactions

TCBC will manage all aspects of incorporation to get you a business license in Chongqing  China. We offer a range of company formation services including helping you to set up:

-Wholly Foreign Owned Enterprises (WFOE )

-RepresentativeOffices

-Joint Ventures (Equity/Co-operative)

-Foreign Invested Partnership Enterprises (FIPE)

-HongKong Holding Company.

Once your business is officially registered in Chongqing, it's required to maintain proper accounting records in accordance with accounting standards in China and to report taxes on both monthly (for business tax, individual income tax) and quarterly (corporate income tax) basis. Late submissions will face penalties and surcharges.

When foreign companies come to Chongqing to set up Small Medium Enterprises, one of the headaches is to find an English-speaking professional accounting & tax advisory and agency firm. Even there is help from local professionals, due to language and communication problems, it is still hard for investors to find the correct way of investment and to completely understand the local investment and tax policy. Furthermore, it is hard for the foreign investors to set up a complete and legal financial & tax system as well as the related procedures. Therefore, different kinds of incompliant problems regarding tax and legal areas will be accumulated with the invested company and lead to serious legal risks step by step.

A lucky investor may get the fluent English-speaking internal accountant by recruitment, but it does not mean the invested company no longer needs an external consultant. Due to the professional limitation of internal accountant, particularly when it comes to comprehensive issues regarding taxation, customs, foreign exchange, labor, banks and so on, it is hard for the internal accountant to propose sophisticated professional advice and options to the company’s management.

During the practical operating, many small and medium sized companies conclude that full time cashier and full time accountant cost a lot and create certain burden for operation. Meanwhile, as they might not be full occupied by works due to the limited work load. To be successful, any enterprise regardless its size often needs a financial and accounting expertise.Outsource your accounting project to us is the best solution to this problem.  With Our professional accounting service, clients can have the expertise they require when they require.

Our accountant could assist you and negotiating with your local officer to use the proper tax reporting method for your China presence. And submit the tax reports monthly and quarterly on your behalf.
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The details of our services are set out below
◾Update the books in accordance with the Chinese Accounting Standards
◾Prepare monthly financial statements for tax filing purpose and submit if applicable
◾File monthly Business Tax Return and Individual Income Tax Return
◾File Corporate Income Tax Return quarterly
◾Annual Corporate Income Tax Filing
◾Monthly Bookkeeping Service
◾Audit of Financial Statements

Foreign companies come in contact with the Chinese legal system the moment they decide to doing business with china. Our legal teams have served the clients in Chongqing China since 1990s. We have advised on some significant investments, international trades, real estate projects, arbitration, litigation and individual needs to date. The expertise we have allows us to place ourselves at your full disposal to offer our advisory services in China, to suggest the best path to lead you to the best solutions for any challenge in your business. 

We have extensive experience with the entire spectrum of business entities in China, from simple Representative Offices to more complex Foreign Invested Enterprises such as Wholly Owned Foreign Enterprises (WOFEs) and Joint Ventures (JVs). We have served hundreds of clients from more than 30 countries in virtually every industry sector. Our consultants have developed an extensive network of local connections to expedite business registration projects and to negotiate for favorable incentives for large Foreign Direct Investment (FDI) projects.

We assist our clients with their China projects regardless of which stage of development they are in, like researching the business environment, entering the market or already growing their business within China. We are committed to guiding our clients through the challenges of achieving their goals by not only keeping them abreast of current trends but also anticipating how those trends may impact the market they are in. We customize our approach according to our clients’ specific needs.

Contact Tom Lee for business setup consulting in Chongqing now.