Starting a Business in China

Opening a franchise in one of the largest and most populated countries in Asia is one of the most difficult things to achieve by a foreigner. There are a different set of rules and regulations, which means that there might be some that would seem contradictory from where you come from but is considered a norm in the region. If you plan on expanding your franchise, then here are some of the key procedures that you need to do:

Obtain an application form for the name of your corporation from the Administration of Industry and Commerce (AIC) in the assigned area. This can be obtained by logging on to the department's website.
Keep in touch with an auditing firm that will authenticate the capitalisation. The government often has a few requirements to come up with the overall start-up money for your business. You must store the assets in a local bank.
You should apply for a registration certification from the (AIC) within the district. In some cases, it is possible that you will have to issue this form and pay for the fees one week in advance.
Obtain the approval to create the company seal from the local police department. Look for a legitimate seal-carving company.
Finish signing and submitting all necessary forms of application. For this, you will need to contact the Quality and Technology Supervision Bureau to acquire an organisation code certificate. Forward your application for the local statistics department and submit your forms for the local and state tax bureau.
Establish an official bank account with a renowned Chinese bank. This is where you will move your assets once you have complete all forms of application.
You should also obtain permission to print or purchase financial invoices once tax registration is completed as well as to issue uniform receipts. These are two important requirement that cannot be bypassed.
The final department to contact is the Social Welfare Insurance Centre for registration to be complete. They will coordinate a financial coverage firm for your company.

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Once you have successfully started your business, make sure to maintain contact with the local authorities to keep in track of changes in regulation and requirements. They might even help steer away from penalties and fines. Last but not the least, you should pick an ideal location with a sound structure so that your operations will go smoothly and efficiently.

Starting a Business in China

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