Import-Export

The WOFE is a foreign company held 100% by one or several foreign shareholders in China. This legal form is therefore reserved to foreign entities wanting to develop a proper activity on Chinese territory, in the following fields:

  • Commerce, distribution, trading import and export: all activities of commercial nature
  • Production and assembly: local purchase and import for local resale and or export
  • Services and consulting: services to companies or to private individuals

A WOFE is a company with limited responsibility. Its shareholders can be made up of:

  • Corporations (a headquarter abroad)
  • One or several individuals

It is a recommended alternative to sino-foreign joint ventures within the fields of activities for which investments in WOFE are authorised by the Chinese government. The main advantages lie, of course in the complete management, decision-making and strategy independence. The capital is entirely usable to pay operations expenses. The minimum required by the Chinese administration for a WOFE varies according to several criteria:

  • The related activity field (according to the Chinese government’s authorised categorisation)
  • The nature of the activity (local commerce, export, transformation, services)
  • The location: city and province where the WOFE’s headquarter is legally registered
  • The area: free zone, special economic zone, technical or technological zone, city centre, district…

Advantages:

  • A 100% foreign funds, so independence and freedom of establishment without having to call upon a local Chinese partner
  • Allows you to manage and develop commercial activities in China
  • Allows you to give out invoices in local currency (RMB) and to receive payments in that same currency
  • The possibility to convert your profits in RMB, in Euros or in Dollars and sending it to the headquarter in France
  • Allows you to benefit from a greater protection when it comes to skills and develop a greater effectiveness with commercial operations

Finabridge is there with you throughout the creation of your WOFE. From the preparation to the permission by the Chinese authorities, as well as the legal registration and the bank account opening.

Good to know:

  • Individuals and corporations can be shareholders of a WOFE
  • The minimum capital of a WOFE can vary according to the location of registration and the field of activity of the company
  • A Hong Kong company can be used as a headquarter to open a representative office

Training

Finabridge managed to take advantage of its experience in terms of customer relations to understand new needs. So, we developed training services to expand our clients’ areas of expertise and help them tackle various issues faced.

  • Accounting training: Finabridge shares all basic knowledge necessary in accounting, to provide more independence in managing your activity (statement of account, income statement…)
  • « Business Chinese » training: This training will allow you, in a short amount of time, to develop or deepen your Chinese language knowledge, with a “business” specialisation    
  • French law: Legal aspects differ from one country to the other.   This training goes over the important points to master in the French and European legal system. You can then practice legally
  • Establishment in China: setting up a structure in China requires you to know numerous rules in order to succeed with your project.   This training will guide you and will give you the keys and steps to follow to reach your goals.