1. |
Change Costs |
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(1) |
Change Costs |
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Our fees for handling the change of name for a WFOE’s Shenzhen branch is RMB9,000. In particular, our fees cover the following services: (1) Preparation of change application documents; (2) Submitting online application for the change with the registry office; (3) Making an appointment for the submission of paper application; (4) Submitting paper application to the registry office; (5) Making new chops for the branch; (6) Application for the change with the opening bank for RMB basic account. |
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If special licence or permit or other extra change is required, we may need to adjust our fees accordingly. |
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(2) |
Official Filing Fees |
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Our service fees stated in Section 1 (1) do not cover any official filing fees of around RMB1,500. The official filing fees will be billed with supporting official receipts. |
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(3) |
Translation Costs |
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Our service fees stated in Section 1 (1) do not cover translation costs for translating the documents prepared by you from English to Chinese or translation of registration documents from Chinese to English. If so required, we will charge an extra amount of RMB350 per page of A4 size paper for the translation services. |
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All the fees quoted above do not include the Value Added Tax and Surcharges of 7.5% if Chinese tax invoice (Fapiao) is required. |
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A summary of the fees and costs is provided in Schedule 1 to the quotation. |
2. |
Payment Terms and Methods |
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Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance. |
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If China or Taiwan official tax invoice is required, Value-Added Tax or Business Tax at the prevailing rate in the respective jurisdiction will be charged. |
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Official Filing Fees |
3. Required Documents and Materials
The following materials are required for the purpose of change of principal for a branch registered in Shenzhen, China:
(1) Photocopy of the notice of name change of the head office;
(2) Photocopy of the Business License (original and duplicates) of the head office;
(3) Business Licenses (original and duplicates) of the branch;
(4) Bank account opening permit of the branch;
(5) Common Seal, Financial Seal, Name Chop of the principal for the branch;
(6) Specimen of Seals Recorded by the Bank for RMB Account;
(7) Other documents or information temporarily
required by registration authorities.
4. Estimated Time Frame
It is estimated that the whole change
process would take around 5 to 7 weeks, subject to the approval by the various
registration authorities in Shenzhen. The table below shows the estimated time
frame for each of the steps for the change.
Step
Description
Who is Responsible
Working Days
Preliminary
1
Preparation of materials required
Investor
Investor’s schedule
Application
for Change
2
Submitting online
application for the change with the registry office
Kaizen
1
3
Making an appointment
for the submission of paper application
Kaizen
5
4
Submitting paper
application to the registry office and collecting the change notice
Kaizen
3-5
5
Making new chops for the
branch
Kaizen
2
6
Application for the
change with the opening bank for RMB basic account
Kaizen
10-15
Around 5 -7 Weeks
Schedule 1 – Summary of Costs
Item
Description
Amount
RMB
1
Service fees for change of name
(Note 1)
9,000
2
Official filing fees for the change
(Note 2)
1,500
3
Disbursements
500
TOTAL
11,000
Note:
1. The government fees will be collected before the commencement of services and any shortfall will be billed after completion of registration of the branch.
2. Item 4 will only be incurred if we are being engaged for such services.
3. If Chinese tax invoice is required, a Value Added Tax and Surcharges of 7.5% would be applicable.