1. |
Registration Costs |
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(1) |
Our Service Fees Our fees for handling the registration of a WFOE branch in Shanghai, China are RMB10,000. In particular, our fees cover the following services: (1) Preparation of registration application documents; (2) Application for business license; (3) Carving of chops for the branch; (4) Setting up a RMB basic bank account If the business activity to be conducted by the branch requires special licence or permit, we may need to adjust our fees accordingly. |
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(2) |
Official Filing Fees Our service fees stated in Section 1 (1) do not cover any official filing fees. The estimated official filing fees shall be around RMB1,500. The official filing fees will be billed with supporting official receipts. |
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(3) |
Internet Banking Facility Our service fees stated in Section 1 (1) cover the setting up of a bank account for the branch, however, it does not cover the application of internet banking facility. Should you decide to engage us for the above service, we will charge a fee of RMB1,000. |
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(4) |
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. |
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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. 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. 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. |
4. |
Estimated Time Frame |
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It is estimated that the whole registration process would take around 4 to 6 weeks, subject to the approval by the various registration authorities in Shanghai. The table below shows the estimated time frame for each of the steps for the registration.
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5. |
Certificates and Materials obtained after Registration |
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After the company is officially registered, it will obtain the following certificates, corporate documents and seals to prove its legal existence and to carry out its daily operation. (1) Business Licence (Original, Duplicate) (2) Bank Account Opening Permit and Other Bank Stuffs (3) Common Seal, Financial Seal, Name Seal for the principal |
6. |
Annual Compliance Requirements in China |
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Immediately after a branch is officially registered in Shanghai, it is required to comply with various monthly, quarterly and annually filing and reporting requirements. These filing requirements include monthly tax filing, filing of annual audit report, which has to be issued and signed off by a local CPA firm, filing of annual tax reporting to the Shanghai State Administration of Taxation and filing of annual reports to the competent government authorities etc. In any case if any of these annual compliances are not handled in a timely manner, the branch may subject to penalties or at the risk of getting their license suspended or cancelled by the MSA. Kaizen is well equipped with experienced personnel and capable of providing all the services that your Shanghai branch may need, including but not limited to monthly book-keeping, preparation of tax computation and filing of various tax returns and also performing annual tax clearance and etc. |
Item |
Description |
Amount RMB |
1 |
Service fees for Branch Registration (Note 1) |
10,000 |
2 |
Official filing fees for Company Registration (Note 2) |
1,500 |
3 |
Disbursements |
500 |
4 |
Service fees internet banking facility application (Optional) |
1,000 |
5 |
Translation fees (Optional) |
TBC |
TOTAL |
13,000 |
1. |
If the business to be conducted by the branch in Shanghai requires special licence or permit, Kaizen can handle the application and our fees will be quoted upon request. |
2. | The government fees will be collected before the commencement of services and any shortfall will be billed after completion of registration of the branch. |
3. | Item 4 to 5 will only be incurred if we are being engaged for such services. |
4. | If Chinese tax invoice is required, a Value Added Tax and Surcharges of 7.5% would be applicable. |
Download:Fees and Procedures for Registration of a WFOE Branch in Shanghai【PDF】 |