Q&A of Company Registration

1.Company name

Chinese company name is normally formed by 4 parts, including region, name, industry character and type of organization. For example, Xiamen is the region, R&F is the name, Consulting is the industry character and Co., Ltd. is the type of organization. English company name is also required for a foreign investment company.

2.Registered address

A registered address is required for a Chinese company. A Chinese company can consist of 2 addresses, one is called legal address, and the other is called actual business address. Generally speaking, one actual business address cannot be repeatedly registered by another company.

3.Registered capital

The registered capital amount is based on the company planning scale without minimum limit from law point.

4.Payment term of registered capital

There is no limit for the payment term of registered capital. The company can freely determine how long to pay the registered capital into Xiamen company. 50 Year is a usual term.

5.Legal representative & Supervisor

For a Chinese company, at least a legal representative and a supervisor are legally required for company registration. The supervisor is authorized by the shareholder to supervise the company management.In fact the supervisor has minor sense for small scale company.

6.Board of directors

For a Chinese company of small scale, to be simple operation, only an executive director is set. Then this executive director can have more authorization to handle the company operation. Of course, a company can also form the board of directors. 3 directors is the minimum requirement for the board of directors. The rights of the director(s) can be registered in the Articles of Association of the company.

7.Business scope

For a Chinese company, the business scope must be clearly put forward to Chinese government and the amendment is required if you want to do the business beyond the registered business scope. Please note that a factory address is required if you want to put the scope of manufacturing, processing or repair.

8.Bank account

Generally speaking, a company can freely choose the opening bank, including RMB account, USD account and other foreign exchange account. The company can instruct the bank who and what authorization has the path to the bank cash/deposit. Pls be noted that all foreign exchange flowing in Chinese company is strictly supervised. Your company should afford certain invoices or documents to bank to explain.

9.Company stamps

A company will at least have an official stamp, a banking stamp and a private stamp of the legal representative. In addition, a company can also apply for a contract stamp and others.

10.Annual licenses renewal

Annual licenses renewal is required during Mar. 1st to June 30th of each year for a Chinese company.

The above information is made by Xiamen R&F Consulting Co., Ltd..