China Company Formation
Nowadays, China is becoming much more prevalent in the world stage. Its fast-growing economy, huge population and favorable policies attract many foreigners to establish a company in China.
With a population of over 1.3 billion people, the People's Republic of China is the world's fastest-growing economy and the second largest economy in the world. Developing business in China is undoubtedly the greatest single opportunity for companies today.
Setting up a Foreign Investment Enterprise (FIE) is a common method of creating an operation in China. In China, any one of a number of legal entities can be considered FIEs including wholly-owned foreign enterprises (WFOE), Sino-Foreign equity joint ventures (EJV) and Sino-Foreign cooperative joint ventures (CJV).
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Types of Legal Entities in China
Wholly Foreign Owned Enterprise (WFOE)
For a foreign company to be able to issue receipts and export goods from China, it must be able to legally register as a local company or a WFOE. WFOE’s are among the most popular corporate models for non-PRC investors due to their versatility and unique advantages.
Sino-Foreign Equity Joint Venture (EJV)
EJV is a limited liability company incorporated by a Chinese partner and a foreign company. It is capable of buying land, hiring Chinese employees independently, constructing buildings etc. The partners share profits, losses and risk in equal proportion to their respective contributions to the venture’s registered capital.
Sino-Foreign Cooperative Joint Venture (CJV)
CJV is a joint venture between a Chinese and a foreign company within the territory of China. The Chinese company usually provides the labor, land use rights and factory buildings, while the foreign company brings in the necessary technology and capital.
Foreign Representative
Office (RO)
A representative office is prohibited from carrying out business directly, but it is essentially used to monitor trading, market products and/or services, source suppliers, quality control, market research, business liaisons and technical exchange on behalf of an offshore company.
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