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China: Your Company’s Name in China – How to Choose it?:
How do I choose the name of my Chinese company?
Choosing a proper Chinese name for your Chinese company is considered the first step to start the enterprise registration procedure; investors should reserve 5 names for its prospective WFOE in China with the local Administrative Bureau for Industry and Commerce.
In China the official company name should be 100% in Chinese characters; usually you can choose Chinese characters which have similar meaning of your ideal company name in your mother tongue or choose it by similar pronunciation.
The name of the company has to be composed according to a fixed structure that it’s different for every kind of china entity. To see the structure in more details click below:
Wholly Foreign-Owned Enterprise (WFOE)and Joint Venture (JV) Setup in China
Wholly Foreign-Owned Enterprises’ names, as well as Joint Ventures’, have to be composed in the same way as Chinese company ones. The structure of the name is formed as follow (in Chinese):
Location (City) + Business Name + Business Activity + Business Structure
For example the name of a limited liability company called Bstarts, registered in Shanghai and engaging in business consulting is:
Shanghai + My Business China+ Consulting + Co.,LTD.
Representative Offices in China
Since Representative Offices are not legal entity in China, but only subsidiary of their foreign company, their name has to be composed as follow:
Nationality of the Foreign Enterprise (not mandatory) + Foreign Enterprise Name (+ Business Activity and Structure) + Location in China (City) + “Representative Office”
For example, the name of a Representative Office of an Italian Company called “Bstarts Business Consulting Co.,LTD.” has to be:
(Italy) + Bstarts Business Consulting CO.,LTD. + Shanghai + Representative Office
Words as “China, Sino and International” are not permitted in Chinese names unless a special permission is given; although they are permitted in the non-Chinese names.
Usually you will have to choose 5 to 10 names for your future Chinese company because if a name is similar to an existed company in the same industry/activity will be rejected by Chinese authority.
Got a question about starting your business in China? Check out more articles I’ve written on http://www.mybusinesschina.com/articles or email me at info@mybusinesschina.com.
China: Register Your Business in China:
Registering Your Company (WFOE) In China – Questions and Answers
What’s a WFOE in China and Does a Foreigner need it do business?
A Wholly Foreign-Owned Enterprise or WFOE (also called Wholly-Owned Foreign Company or WOFE) is a mainland China-based limited liability company capitalized solely by foreign investors. The Investors can be both foreign companies (such as a Hong Kong company) and foreign nationals. A WFOE is the only wholly foreign owned entity that is registered as a legal entity under Chinese law and it’s responsible for its profits and losses.
So once I have a WFOE in China, what powers does that give me?
Since WFOEs posses the status of legal entity in China, they can: independently carry out their investors global strategy receive revenue in RMB, and issue RMB official invoices (fapiaos) to customers convert the net income from RMB to other currencies and transfer it to their overseas investors directly hire Chinese labor acquire land use rights (in order to build establishments) in the form of land use right certificates
Also it’s important to keep in mind that: there is a minimum capital contribution required, known as minimum registered capital, which varies according to the industry and the business scope of the WFOE; the term of operation varies according to the nature of the enterprise, any extension is subject to the approval of the relevant government authority; the establishment of high-tech WFOEs is encouraged by law and WFOEs can protect their intellectual property and technology know-how.
Does the Chinese Government have any ownership of my WFOE in China?
WFOEs have the advantage of being completely owned by foreign investors; this grant full protection of the intellectual capital and know-how.
What are the risks in doing a joint venture with an already established Chinese business?
Let’s say that you decided that it is easier just to join forces with an already established Chinese / local partner that has a Chinese company. This can pose some significant intellectual property risks because Chinese copyright and intellectual property laws are not as stringent as those in most developed countries. In short, your local partner could continue to use your intellectual property regardless what you wrote in your partnership agreement and you would have little legal recourse.
Interested in starting your business in China?
If you have any questions, go to http://www.mybusinesschina.com or e-mail me at Jonathan.s@bstarts.com.
China: China Visas Explained – Types of Chinese Visas and How to Apply for a Visa in China:
Anyone traveling to China for the first time may find getting a China visa a little daunting with the nine visa types to choose from. Here, you’ll find information that will answer the common questions many people asked about China visa such as, “How to get a visa in China”, “Which visa do I need in China” and “What type of visas exist in China”.
What type of visas exist in China?
If you are planning to travel to China, you will need to get the right visa based on the purpose of your visit. There are currently nine types of visas being issued for anyone traveling to China. The nine types of visas are the tourist visa, business visa, student visa, crew member visa, journalist visa, transit visa, residence visa and the work visa.
Each of these visas has a letter to represent it. Below is an explanation for each of the visa categories.
Tourist Visas in China
First is the tourist visa, which is known as the L visa. This visa is issued to those who are planning to visit China for holiday or personal travel. This visa will last from 30 to 90 days for both single and double entries. If you want to come in and out a few times you will have to pay extra!
Student Visas in China
Next is the student visa, which is the X visa (do not ask for an XXX visa, I tried, they don’t find it funny). This visa is issued to foreigners of other countries who is visiting China for education purposes. This visa is also used by students who are visiting China for temporary work such as internships or just pretending to get very drunk whilst ‘studying Mandarin’.
Transit Visas in China
The third type of visa is the Transit visa, known as the G visa. This visa is needed for anyone who is traveling to another place but is making a transit in China.
Crew Member Visas in China
The fourth visa is the Crew member visa which known as the C visa. This visa is for anyone who is part international aviation such as pilots. Family of this visa holder will also be offered this visa type.
Want to Live Permanently In China? There’s a Visa for That Too!
For anyone who is immigrating to China and are there to stay permanently, they will need to apply for a Residence visa, which is the D visa.
Starting a Foreign Franchise in China?
As a country that has been attracting many investors, there has been an increase of foreign and multinational companies starting their franchise in China. If you are going to China for business purposes, then you are required to get the F visa.
The Benefits of a Visa Agent for Work Visas in China
China has been attracting lots of foreign workers and have also been offering a lot of employment opportunities for foreigners. If you are employed by a company in China, then you may need to get your work permit and also apply for the Z visa. This can be complicated and sometimes risky if you try to do it yourself as not all companies sort out your visa (or sort it out well).
If you are a business with foreign workers who need visas it is best to go to an agent who knows the ins and outs of the labour bureau’s regulations and will guide you throughout the process to ensure you get the visa the first time around. If you try to do it yourself (and keep in mind many forms, particularly from the labour bureau, are in Chinese) you could end up wasting a lot of time, money and even worse – be denied entry permanently if you end up submitting contradictory information.
How To Apply For Your Chinese Visa
For holiday visas it is easy and relatively risk free. You can download the application form online, print and fill it out. Just be sure you take the address of where you are staying with you. If you are staying with a friend they will often require a letter and a copy of your friend’s rental contract to prove you can stay at the address specified. Then all you have to do is take the documentation to your local Chinese Embassy.
For work visas there a variety of forms and pre-approvals you need to get. This can be a total nightmare for someone who is not Chinese and does not know how the labour bureau operates. An agent will inform you as to where an government approved hospital can administer and admissible health check. They will help match your past work experience (you need at least 2 years and references in you same / similar line of work) verifying your experience. If you’re self employed, your visa agent will assist you in creating the right documentation for this too. They will go to the labour bureau’s offices in China for you, collect the original documents and approvals you need, collate your information and get it processed in a faster and more risk free fashion.
If you need a work visa you can contact Jonathan at Bstarts Visas who are work visa specialists – best of all, if you do not get your visa for any reason the service is free so there’s no risk.
If you have any questions please go to www.mybusinesschina.com or email me at jonathan.s@bstarts.com
China: Startups Shanghai Networking Event:
Bstarts Networking Event
for Startups in China 10th April 2013 @ Kartel Bar
Are you new to Shanghai , are you an entrepreneur or are you thinking of starting a business in China? Come meet like-minded businesspeople, foreign and Chinese alike. Meet future partners, investors and even clients in one of Shanghai’s coolest bars. Best of all our sponsors are offering some great prizes and Bstarts has organised a two for one drinks promotion to help you get into the mood!
Here are the Event Details, Come Join Us!
Kartel French Bar 10th April 2013, ?Time: 19:00 to 21:00 ?Address: 5/F, 1 Xiangyang Bei Lu, near Julu Lu, Metro Line 1/7 Changshu Road Station ?
?Cost: 50RMB at the door, if you RSVP: 30RMB
1st Prize: Free Website with 6 months hosting worth 5,000RMB ?
2nd Prize: ? 10 tickets to giveaway to our famous Business Development Blueprint Workshop (2.5hrs) valued at 1,000RMB each.
Simply Reply to this email to RSVP or contact us at info@bstarts.com or call us at 186 2168 5359
Don’t forget to bring your Business cards! We look forward to seeing you at our event.
From the Team at Bstarts Consulting – Helping You Start Your Business in China
?www.bstarts.com
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