Shanghai Limited Liability Company
Shanghai is the largest center of commerce and finance in mainland China and has been described as the “showpiece” of the world’s fastest-growing major economy with an estimated number of 20 million people.
Advantages and Benefits
- Population growth, viable economy, with strong consumption potential;
- Ultra – Modern and vast network of transportation nodes across the Country;
- High standard of living;
- Ability to hire staff or personnel in China;
- Flexible and attractive Foreign Direct Investment (“FDI’) Policies;
- 100% Foreign business ownership;
- Availability of a wide-range of business activities;
- Ability to open and maintain Individual and Corporate bank accounts in China
- Registered Capital: There are no minimum capital requirements; however, the capital must not be “zero” [The registered capital and the period of its contribution must be indicated in the Article of Association of the Company.]
- Tax Rate:
Value Added Tax: 17%
Corporate Tax: 25%
- Registered Address: There is a requirement to obtain the lease of an actual office space in the name of the company.
- Structure of the Company
Shareholders: Minimum of One (1), (Corporate or Individual)
- Board of Directors or Executive Director: The company must appoint a minimum of three (3) members to constitute the Board of Directors, or appoint a single Executive Director;
- Supervisory Committee:
For small scale companies : 1-2
For large companies: not less than 3
- The Investors (i.e. the shareholders) shall appoint the Supervisors of the company. Management Persons shall not act as Supervisors.
- General Manager: One (1)
- The Board of Directors and/or Executive Director shall appoint the General Manager of the Company
- Appointment of Legal Representative: One (1)
- The Chairman Board of Directors, or the executive director, or general manager may act as the Legal Representative of the Company.
- Accountant: the Company may hire either an accountant or an accounting service company to carry out the function.
- Time Frame: A minimum of 30 business days from the date of submitting the necessary documents to the Authorities