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The China market has seen massive growth and significant commercial opportunities that make it difficult to ignore, especially for Australian exporters and manufacturers. To capitalise on the advantages and opportunities, it may be profitable and practical to set up your own business presence in China. There is a range of business structures to choose from when becoming a foreign legal entity in China.
Wholly Owned Foreign Enterprise (WOFE)
A WOFE represents full ownership by the foreign investors. It is a limited liability company that is suitable for those wanting to either manufacture, import/export, provide services or operate in China. A WOFE comes in various formats including Consulting WOFE, Trading WOFE and Manufacturing WOFE.
A Consulting WOFE will suit your company if you require a legal presence in China so that you can engage in business activities and employ your own staff.
A Consulting WOFE generally has the lowest minimum registered capital requirement and is often selected by Australian service companies or those that require a minimal presence with full operational rights.
A Trading WOFE will suit a company that requires a legal presence in China. You can then engage in business activities, independently import and export, distribute domestically, employ your own staff and issue VATT invoices.
Australian companies that have their goods manufactured in China using third party suppliers will find this option suitable and commonly set up a trading WOFE to act as their global distribution hub.
A Manufacturing WOFE will suit a company that wants to set up its own factory in China to make goods that are classified under the Chinese governments ‘approved’ and ‘encouraged’ industries classification.
Applying to register a manufacturing WOFE (or any WOFE for that matter) is a structured bureaucratic process. It is not a registration process, meaning that the documents and business case information provided will be carefully considered by the local government authorities before approval is granted. China Blueprint works with you to prepare and conform with the required documentation. We do this in partnership with your chosen lawyer and accountant to ensure a higher chance of approval and success.
WOFE application services include:
Setting up a factory
Rather than using third party suppliers to manufacture your goods, you may wish to consider relocating your current factory to China or set up a new Greenfield project. China Blueprint will assist you with this important decision, undertaking initial feasibility studies, advising on suitable site locations, advising on local administrative requirements and facilitating the set up. We also provide manufacturing equipment sourcing and costing services, equipment relocation support and factory installation – the full turn-key solution!
Short term assembly
China Blueprint provides business solutions for its clients simply looking for a short term assembly line for either inspection, packaging or re-work, without the commitment of a full-time legal entity.
A representative office will suit a company that wants to conduct market research and promotions in China. This is not intended to be a low-cost solution for those simply wanting to employ a small team to undertake business activities such as sourcing or quality control.
Joint Venture (JV)
This type of entity requires the joining together of two business parties, one a local Chinese company and the other a foreign company. Typically, a JV if formed when the two partners are mutually complimentary, i.e. where the Chinese party has the factory and machinery and the Australian Party has the knowhow and technical design capabilities, or when the Chinese government regulations determine that this is the only option.
China Blueprint Consultants will assist you to consider these important first steps with appropriate detail so that you can decide which format best suits the purpose and at what cost.
Speak to China Blueprint before you take the next step and commit money and time into setting up a legal presence in China. We will help you understand the options, choose an entity that best suits you, introduce you to our trusted partners and support you throughout the process.
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Six reasons to choose China Blueprint
We understand Australian business and the China manufacturing process
We have representation in both countries
We work for you, our client, exclusively and are your eyes and ears on the ground in China
Our processes are proven and we rely mainly on satisfied client referrals for new business
We speak the language fluently
We work with the best in the import industry to offer a turnkey solution!