What is the procedure and what documents are required for a Shanghai registered company?
Shanghai is one of the four largest financial cities in the world. With a developed economy and convenient transportation links, it is the largest port city in China. With the support of national policies, the development of Pudong has promoted the rapid development of Shanghai’s economy. With the establishment of the Shanghai Free Trade Zone and the expansion of the zone (most recently with the opening of the Pudong Port Free Trade Zone), foreign enterprises registering in Shanghai enjoy many advantages. As a result, more and more foreigners are registering companies in Shanghai.
First of all, what is a foreign enterprise?
The so-called foreign-funded enterprise is an enterprise established by foreign investors in China on the condition that it complies with national laws. It is a Chinese legal entity, but the branches of foreign enterprises and other business organizations in China do not belong to foreign-funded enterprises.
Second, how can foreigners register a company in Shanghai?
The basic procedure for registering a company is similar to that of an ordinary company.
First, the name approval process first checks whether the company name has already been used by other companies and similar names cannot be used. As a rule, the name search takes 5 working days. After that, you can get the name approval decision, otherwise you need to search the name again.
2. If you are submitting materials, please note that all materials must be brought in. This process usually takes about 20 working days.
3. Apply for a business license: submit the prepared industrial and commercial materials to the Administration of Industry and Commerce to obtain a business license. It takes about 10 business days once the documents are fully prepared.
4. Obtain company stamps: this usually includes an official stamp, a financial stamp and a legal entity stamp. If you require other stamps, you will need to specify this in advance. This usually takes about 1 business day.
5. Bank account opening: choose the bank for account opening and go to the bank with the business license, official stamp and other materials. The processing time varies from bank to bank. Please check with the bank opening the account for details. Third, the cost for foreign companies registered in Shanghai: The cost for companies with foreign capital varies due to various factors.
Contact Tolmao Group today to register your company in Shanghai.