Dongguan is a prefecture-level city in central Guangdong province, China.
An important industrial city located in the Pearl River Delta, Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to the west
Dongguan is an important industrial and manufacturing base in China. The annual foreign trade volume of Dongguan ranks only behind Shanghai, Shenzhen and Suzhou among Chinese cities. There are about 8,000 domestic and 14,000 foreign-funded companies in Dongguan, covering various sectors including electronics, clothing, communications and food. Many famous multinational enterprises such as Nokia, Philips, GE and Nestle have established their companies or factories there.
Dongguan is the largest global manufacturing and supplying base of computer parts and peripheries. Most of the PC components can be easily found and purchased there, making it an important purchasing base for PC giants including IBM, HP and Dell.
Every year in mid-October, International Computer Communication & Consumer Products Expo ("Dongguan 3C Expo" for short) is held in Dongguan. The expo lasts for 3 days, gathering about 560 participant IT companies from all over the world. It is the 4th largest fair in IT industry, after COMDEX in Las Vegas, CeBIT in Hannover, Germany and CompuTex in Chinese Taipei. The 3C Expo falls between the phases of Canton Fair in Guangzhou, China's largest trade fair.
Dongguan Business Formation also can be understood as: Dongguan company setup, Dongguan corporate formation, Dongguan business setup, Dongguan company registration, Dongguan business establishment and Dongguan business registration.
To facilitate people who want to invest and set up company in Dongguan, 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 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. No. minimum registered capital is required for WFOEs with scope of business of consulting, Trading, retailing, information technology etc. in China. There are minimum registered capital still required for some industries for instance: Banking, Forwarding etc Since China still maintains foreign currency control policy, it's still advisable to choose registered capital within RMB 100,000 ~ RMB 500,000 as the minimum registered capital. Companies can now determine how much capital will be required to maintain their operations and must simply ensure that they meet those targets within a period of 10 years.
Representative Office (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 is taking 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, 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 (MainlandChina 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.
Since 2006, Tommy China Business Consulting has been focusing on consulting services for our clients to invest in Dongguan. 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 China drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Dongguan China.
When foreign companies come to China’s second-tier and under cities 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.
Due to the above reasons as well as my financial and tax consulting experience in accounting firms and working experience in European invested companies totally for more than 10 years, I set up Cathy Consulting Firm and hope to bring professional advice to new investors or the managements and financial staffs of current foreign invested Small Medium Enterprises so that they can do business in China successfully
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
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.
.
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
