Tag Archive China

Why Employing China Consultants To Solve Banking Issues is a Must

July 21, 2017 Comments Off on Why Employing China Consultants To Solve Banking Issues is a Must By The Incorp China Team
China Consultants,Shanghai, China, money, business, firm, enterprise, startup, open an office in China, economy, work, consultant

Nationalities are a way of creating a sense of belonging. As soon as you are born, you are gifted one, sometimes two, nationalities. They play an important part in how you identify yourself throughout your life and they can come with – or prevent – great liberties. The problem with belonging to one nationality is that, as soon as you take a step beyond your mother land’s borders, you are a stranger. It is human nature to protect what we know and recognize and seek distance from what we see as foreign and unknown. Whether executed consciously or subconsciously, this behaviors is deeply engraved in our DNA.

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Shutting Down a Foreign Owned Entity in China – IncorpChina’s Visit to the Local Tax Bureau

July 13, 2017 Comments Off on Shutting Down a Foreign Owned Entity in China – IncorpChina’s Visit to the Local Tax Bureau By The Incorp China Team
Foreign Owned Entity in China,tax bureau, Chinese, China, bureaucratic, files, paper, documents,tax, office, counters, department, documents, China,Shutting Down a Foreign Owned Entity in China,Shenzhen, China, tax, bureau, office, money, economy, waiting, room, area, hall, bureaucracy, business, entity, company, firm, documents, bureaucracy, work, official, legal

Last week, three Incorp China team members and the CEO, Robert Fisch, headed to the Shenzhen tax bureau to help one of our US clients on shuting down their entity in China. When shutting down a foreign company in China, the tax bureau has to issue a “notice of cancellation of tax registration”’ for the Foreign Trade & Economic Cooperation Bureau. This is a rather difficult and time intensive procedure: The company owner, or a representative thereof, has to physically visit the local tax bureau in order to fill out and hand in the requires paperwork. While some documents are in English, the majority of the procedure will necessarily be dealt with in Mandarin. This highly bureaucratic task involves dozens of different forms that are each tailored to the nature of your business as well as the reason for its closure.

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The New Fapiao Legislation Explained

July 5, 2017 Comments Off on The New Fapiao Legislation Explained By The Incorp China Team

Effective 1st July 2017, the State Administration of Taxation extended its requirements for fapiao issuance. All companies need to add their taxpayer identification number on all issued VAT tax invoices (fapiaos) in addition to the original information. The notice was given under the Taxation Notice No. 16 of 2017.. 16 of 2017.

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How Important Is To Have Local Representatives In China?

June 27, 2017 Comments Off on How Important Is To Have Local Representatives In China? By The Incorp China Team
China, money, Yuan, Renminbi, bank, currency, economics, market, growth, legislation, law, change of law, change of legislation, security, opening up business, WOFE, FICE

While every business needs to keep a tight grip on their expenses, some investments do truly pay off. One of such investments is hiring a local company in China to represent your business here. Why? Because Chinese bureaucracy and law is of complicated and ever-changing nature. Even more importantly, here, nobody stands a chance doing paperwork over the phone. Doing business face-to-face remains the most effective and respectful after all.

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In China, Guanxi Can Open Many Doors – And Borders

June 26, 2017 Comments Off on In China, Guanxi Can Open Many Doors – And Borders By The Incorp China Team
Some life lessons are best conveyed through a story. This one is about never underestimating what power an extensive guanxi holds in China.

 

Guanxi is the mandarin term for the network, the connection people form privately and in business relation to one another over a long period of time. Other than in Western cultures, China doesn’t differentiate between personal and professional relationships. Upholding one’s ‘face’, one’s reputation, making new connections and maintaining them becomes an omnipresent necessity.

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