Details of WFOE GZ company

·COMPANY NAME

In Guangzhou China, only Chinese company names are officially used, while English company names are for reference only. Not every name will be accepted by the ICAB (Company Registry). For some sectors such as education, logistics, medicine and food industries, a special pre-approved license is needed. It is important that you know the wording of a company name should conform to the registered capital and business activities. The words "international" or "investment" or "industrial" within a company name suggest that the registered capital should be more than RMB 10 million, while a "group’’ or "holding" should be more than RMB 30 and 50 million respectively.(The detailed information depends on the local stipulation). Your company name must be distinguished from the other registered names. If the word “China” is within the company name, it is required to be pre-approved by ICAB at national level in Beijing.

·BUSINESS SCOPE

The WFOE can conduct business within its approved business activities described on the business license. Amending the business scope requires further application and approval. Generally speaking, different business activities are confined according to different business sectors.

·REGISTERED AND PAID-UP CAPITALS

In Guangzhou China, the registered capital could be as low as RMB 30,000 yuan. Different business sectors are subject to different requirements. In Guangzhou, the registered capital is equal to the paid-up capital. For the trading enterprise, the registered capital is usually required RMB 1 million or above. For the manufacturing enterprise, the registered capital is usually required RMB 1 million or above. For the service sector, such as consultancy, technology, market research and development, the registered capital is usually required RMB 800, 000 or above. All of the registered capital can be paid in one time (within 3 months after the date of the issuance of the Company’s business license) or be paid for many times within two years (In the first 3 months, 20% of the registered capital is mandatory). The terms of payment is determined by the volume of registered capital. If the registered capital is paid in one time, the fee of paid-up capital verification can be reduced.