Tuesday, March 31, 2009

Irvine - Great Place to Start a Business

http://images.businessweek.com/ss/09/03/0327_smallcity_startups/6.htm

Irvine is a great place to do business. I have lived in this city for over 18 years, and find this city to be very small business friendly. UC Irvine has a strong local presence, as resources and talented employees are readily available. Additionally, the lifestyle factor is very inviting for new and existing businesses to open up offices in the area. Orange County is probably one of the nicest place in the world, and it shows in the number of physically active young professionals working in this area.

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8 STEPS TO START A BUSINESS IN CHINA

What is a China WOFE?
The most obvious way for foreigners looking to do business in China is to set up a Wholly Foreign Owned Enterprise, abbreviated as WOFE or WOFE.

A Wholly Foreign Owned Enterprise is a limited liability company, also know as LLC, that is fully owned and capitalized by foreign investors and operated without a local Chinese partner. This provides you with greater control over your businesses operations, revenue and profit targets. A WOFE is the
Setting up a WOFE can take from 2 to 3 months.
If your business strategy in China just covers market survey, technology communication, and other indirect business activities, then a Representative Office is a more suitable option in your case. Unlike a WOFE, a RO is not considered to be a separate legal entity from the parent company and thus cannot carry out direct revenue earning business activities. Since it cannot enter into purchase/sales contracts and cannot receive payment for products or services, it cannot generate any income by itself, issue invoices or repatriate money overseas.
Another way to enter the Chinese market is via a Joint Venture (JV). In China, a JV is a form of enterprise created through the partnership between foreign and Chinese investors. The joint venture partners share the profits, losses and management of the JV. If you want to acquire the intangible assets of a JV (such as brand, etc.) and marketing channels, then a Joint Venture in china is also the right choice for your business.
Third, decide the registered capital amount. As mentioned further on this document, there is no minimum amount for register capital, but its definitely recommended that it matches reasonable proportions according to future operations.
Can you use my registered address to apply for a work permit visa? Yes , It can be used for Visa
Can I work from my home or another office if I use a registered address? Yes you can. The law states you can work from anywhere or even from a coffee shop.
Its is legally required to have an address to perform a WOFE company registration in China. Luckily there are several companies that can provide this kind fo service. However, no one knows better how this process works as Corporation China does, this is because Corporation China’s board of directors were the responsible team for creating the registered address concept in China. This means you can leave all the work with us and be confident everything will be properly done for your future company.

But if your business plan really requires to have a “real” office, then you can certainly do it by traditional ways. First, you will need to find an office space in China via a different channel, either by real estate agency or the landlord directly.
Nevertheless, is important to mention that after regulations changes in 2014 the new rules eliminated the minimum register capital requirement, but is still highly recommend, also common sense, that you to keep the amount of registered capital close to a realist assessment of the company’s operational proportions.

You will not be required to immediately make a deposit for the full amount of registered capital. The new default is that the registered capital can be paid within 30 years of the business license being issued.

Turnover taxes include Value-Added Tax and Consumption Tax. VAT percentages are usually 17%, 13%,11% ,6%, 3% and 0, being defined according to the company category and taxpayer status.

Not much can be done when it comes to Customs Duties, regulations are pretty clear on this matter. Therefore all goods and articles imported into and exported out of the territory of the People’s Republic of China are entitled for duties.

For More info : https://corporationchina.com/china-company-registration/

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