Profit Repatriation: How to Get Your Money Out of China
As China’s economy continues to grow, it appears to foreign companies as an increasingly attractive place to do business. China is the only major economy to have grown during 2020, a year remembered by many for the coronavirus pandemic and concomitant economic recession. But as foreign businesses invest in the China, a growing number of them are also looking for the most efficient way to bring their profits back home. r repatriating funds are different for individuals and companies, regarding both the preconditions one must meet and limits on the amount transferred. Here, we will can compare the regulations for companies and people:
ICP Licensing: How to Start Your Chinese Business off Strong
Promising untapped markets are emerging all over China. As companies race to break into the new business climate, ICP Licensing is in growing demand. With rules and regulations constantly changing, and an overwhelming amount of Chinese paperwork, the registration process can get confusing. Nevertheless, completing this step is a fundamental part of your successful game plan, and we’re here to help. In this article, we’ve created an all-you-need-to-know-guide on how to properly establish a competitive web presence in any mainland region. Beware: This is a fragile and crucial part of your company’s success. The process is not to be taken lightly, although there are certain service providers out there who treat it so in order to make a quick buck or yuan. Pay attention to the points provided and we will teach you how to do it right.
The Transformational Trend: Why China is the place to be and how to start your business there
Why bring your business to China?
The future of China’s economy has never looked this bright. With a thriving middle class, a new wide-spread consumerist approach to spending, and increasing liberalization, China is now home to a wide variety of promising untapped markets.
Since the late 1980s and 1990s, China’s economy has been executing significant reform to the state-owned industry. Upon the passage of The Company Law in 1993, limited liability companies were approved, and firms were able to retain a share of their profits. As a result, private ownership increased rapidly. By 2005 it accounted for about 70% of China’s gross domestic product.
E-chop—Pioneer for Paperless
“Please have the company chop on the paper we received from the government and then send the original ones to us ASAP.” Are you familiar with above words in emails to some degree?
In China, the Government requires companies to have a “corporate seal” called Chops. Similar to the signature from an authorized representative in western countries, these corporate chops are the way to register official transactions, submit documentation, and validate paperwork in China. The body is where you bring more details about the subject or the problem. There’s a huge amount of paperwork required from the Chinese government, so company chops are typically used.
10 steps to authenticate your U.S. documents to be used in China
This might be something you have not given a whole lot of thought in the past. However, Chinese authentication of US documents is required with almost every application process you will encounter on the road of opening your own China business entity. Registration of an entity in China requires documentation preparation in the US and China. We will help you with documentation preparation in both the US and China saving you time and money. Having your American documents authenticated by the Chinese Consulate means they have passed the official screening to be used in China.
Failing to prepare your foreign documents may result in the delay or refusal of your applications. Here’s a guide on how you can complete this initial process in ten steps:
China’s 3-in-1 license
What is the 3-in-1 license?
The 3-in-1 license is a new format of the business license currently in existence. By the end of the calendar year 2017, all original business licenses must be updated in order for the company to be able to continue operating. The updated business license will merge three company certificates – the firms’s business license, tax certificate and organization code – that had to be issued separately so far. As a result, your company will officially run under a single social credit code.