7 Frequently Asked Questions Regarding China Business Bank Account Opening

Business China offers china company registration services including China Wholly Foreign Owned Enterprise (China WFOE or China WOFE), Joint Venture (JV), Representative Office (RO or Rep Office). The first thing comes across after the China company registration is to open business bank account.

Business China summarizes 7 frequently asked questions regarding China corporation bank account opening.

How many times legal representative should present in China for bank opening?

ONLY ONE TIME is required. If the legal representative cannot make the trip, please contact us for legal representative nominee service.

What information I should give to my client if I need to collect money from them?

We will email you all needed information when the account is ready. Please feel free to contact us if you need any assistance.

My client request for official invoice from me after he wired money to my account. Can you help?

Yes, as long as your Chinese client wired money to your business account under your China foreign entity, we will help you to apply for and issue an official invoice to your client after they provide company name and uniform social credit code.

How long does bank account opening take?

Normally 3-4 weeks to finalize.

Can I manage my business account while I based overseas in UK after WFOE incorporated in China?

Yes, Business China will courier banking device to you after bank account issued. With internet and initial password, you could logo into your account and manage your bank account.

Why Business China?

We have a network of HK bankers and we approach feasible banks only. Business China provides the whole set of HK company setup and bank opening and we spare no effort to support you all the way.

If I contact Business China, can you understand me?

Our staff all could speak fluent English.

Comments

China Trading Company

As world factory, “made-in-China” enjoys a worldwide popularity. with a trading company, you will enjoy a legitimate status to sign business contract under the protection of Chinese law, have the legal right to employ staffs and buy social insurances especially for Chinese employees who want to buy an property later in China. Set Up Your Own Foreign Trading Company in China As world factory, “made-in-China” enjoys a worldwide popularity. You may be thinking about setting up your own trading company after seeing all the opportunities or starts from China mainland when you handling business under individual way for some time. Any benefits or risks if you want to set up a trading company? Setting up a foreign trading company in China, you will enjoy a legitimate status to sign business contracts under the protection of Chinese law, have the legal right to employ staffs and buy social insurances especially for Chinese employees who want to buy a property later in China. ...

Company Incorp

China WFOE WFOE is the most common and acceptable business structure for major business. The registered capital of a WFOE should be subscribed and contributed solely by foreign investor(s). With a WFOE incorporated in China does not mean you can engage in any kinds of business activities, as is the case in HK and some Western countries. WFOE can only operate under the business scope approved by Chinese authorities. If the WFOE trades, wholesales, retails or franchises, we call it a Trading WFOE; if it manufactures, a manufacturing WFOE. If the WFOE implement consulting and advisory business, it is called a Consulting WFOE. If it provides food and beverage, a F&B WFOE. Joint Venture When two or more parties jointly invested & owns a stake respectively and share profits, operation expenses, risk and control of the company, we call it a Joint Venture (JV). Representative Office Although RO is generally agreed as the easiest entity for foreigners to f...

Payroll Service

Payroll procedures and regulations vary greatly in each country. We are there to guide you through the different rules and regulations, and to deliver on your behalf a smooth payroll service to all of your international employees. Salary Payment Transfer net pay electronically to employees' bank accounts Individual income tax calculation: Deduct and pay individual income tax to designated government agencies for employees Handle individual income tax filings in compliance with government regulations Employing staff in China must obey China’s new labor contract law, which came into effect in the year of 2008 and revised several times later. Business China offers customized and cost-effective payroll management solutions for foreign SMEs or start-ups all over Mainland China. Company Type for payroll services: WFOE (Wholly Foreign Owned Enterprise) JV (Joint Venture) RO (Representative Office) Checklist for payroll service: Payroll proc...

BC Partners Consulting Limited

Search This Blog