(1)      Our Service Fees

Our fees for handling the change of registered capital for a WFOE in Beijing, China is RMB10,000. In particular, our fees cover the following services:

(1) Preparation of change application documents;

(2) Application for capital increase with BAMR;

(3) Application for MOFCOM registration;

(4) Application for capital increase with Tax Bureau;

(5) Application for capital increase with bank for update of RMB basic account;

(6) Application for the change of foreign investment particulars;

(7) Application for capital increase with bank for update of capital account

If special licence or permit or other extra change is required, we may need to adjust our fees accordingly.

(2)      Official Filing Fees

The fees quoted in Section 1 (1) above do not cover official filing fees to be paid to different government departments and the official filing fees are estimated to be around RMB1,500, assuming no special license or permit is required.

(3)      Translation Costs

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 RMB300 per page of A4 size paper for the translation services. In case the translation is done by client directly, we will charge RMB60-180 per page of A4 size paper as proof reading service fees.

A summary of the fees and costs is provided in Schedule 1 to the quotation.

Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.

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.

The following materials are required for the purpose of change of registered capital for a WFOE in Beijing, China:

(1)  The amount of total investment and registered capital after the increase;

(2)  Business Licenses (original and duplicates);

(3)  Articles of Association

(5)  Bank Account Opening Permit;

(5)  Organizational Credit Code Certificate;

(6)  Company Seal of the Beijing WFOE;

(7) Other documents or information temporarily required by registration authorities.

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 Beijing. 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 a summary of increased total investment and registered capital	Investor	Investor’s schedule
2	Preparation of WFOE’s certificates and licenses	Investor	Investor’s schedule
3	Other documents	Investor	Investor’s schedule
Application for Change
4	Application for capital increase with BAMR	Kaizen	5-7
5	Application for MOFCOM registration	Kaizen	3
6	Application for capital increase with Tax Bureau	Kaizen	3
7	Application for capital increase with bank for update of RMB basic account	Kaizen	5-7
8	Application for the change of foreign investment particulars	Kaizen	5-7
9	Application for capital increase with bank for update of capital account	Kaizen	5-7
Around 5 -7 Weeks

(1)  We will sign an engagement letter with you;

(2)  You pay the service fees to us;

(3)  You provide the required materials to us;

(4)  We prepare the application forms and relevant documents after receipt of required documents;

(5)  We deliver the documents to you for signing;

(6)  You return the duly signed documents to us;

(7)  We submit the documents to relevant government authorities concerned application and change of various certificates as stated in Section 4;

(8)  The whole procedures are completed and certificates are forwarded to you.