| Types of WOFE | |
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发起人：wangjinmeng 回复数：0 浏览数：8698 最后更新：2019/3/26 10:30:26 by wangjinmeng |
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wangjinmeng 发表于 2019/3/26 10:30:25
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Types of WOFE Service WFOEA Service WFOE is a company that has as its core activity the provision of services to third parties. It is the easiest type of limited liability company to set up as it requires a shorter establishment time frame and a lower capital requirement compared to a Trading WFOE or Manufacturing WFOE. Below is an example of the business scope for a Service WFOE that provides technical services:
Trading WFOETo engage in import and export activities as well as domestic distribution (i.e., retail, wholesale and franchising trade activities) in China, a trading company – also known as a FICE – can be established. Trading WFOEs can combine different business activities, e.g., assembling and providing services. Below is an example of a business scope for a FICE: Manufacturing WFOEManufacturing WFOEs refer to companies engaged in industries such as machine manufacturing and electronics; energy; building materials and construction; medical equipment; transportation; and animal and plant raising and breeding. A Manufacturing WFOE is required to rent a factory space as its registered address. The local Administration of Industry and Commerce (AIC) will physically check the factory space before registering the WFOE. In addition, Manufacturing WFOEs are required to obtain approval from the Environmental Protection Bureau. In some cases, a full report on the estimated environmental impact of the factory issued by an appointed agent is required, which is intended to ensure that manufacturing production processes comply with specified environmental norms. The Bureau will require information about the raw materials used, the machinery and equipment, consumption and safe disposal of toxic products. An example of the business scope of a Manufacturing WFOE is: “Design, develop and manufacture XXX products and related parts and components, sale of self-manufactured products; wholesale, import and export of similar products and commission agency (excluding auction); provision of after-sale services and other associated services to the products; technical consulting, technical development and technology transfer.” |
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