China WFOE Maintenance and Compliance Guide (4) - Change of Company Name
To proceed the change of company name, you shall conduct a name availability search with the competent registry office first. An approval for the new company name shall be obtained before you apply for the change of company name with the competent registry office. Upon receipt of the approval for the new company name, you shall go through the following procedures:
apply for the change with the competent registry office and obtained a new business license;
remake the company seals;
apply for the change with the competent bureau of commerce;
apply for the change with the competent tax bureau;
apply for the change of foreign exchange registration for FDI;
apply for the change with the opening banks;
apply for the change of customs registration (if any);
apply for the change of e-port registration (if any);
apply for the change of inspection and quarantine registration (if any);
apply for the change of foreign trade operator registration (if any);
apply for the change of foreign exchange registration for trading (if any).
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
Limited Liability Company (LLC), a Company type generally referred to as a Wholly Foreign Owned Enterprise (WFOE). The Wholly Foreign Owned Enterprise (WFOE, also known as Wholly Owned Foreign Enterprises, WOFEs) is a Limited liability company wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for encouraged manufacturing activities that were either export orientated or introduced advanced technology.
Name of the company to be registered,Particulars of the Shareholder,Legalised identification documents of the shareholder,Organisational Chart and Beneficiary Owner.Legal Representative,A photocopy of the identification document (i.e. passport for foreigner or identity card for Chinese national) and full residential address of the legal representative.
It is part of a company's incorporation process to obtain various certificates and stamps/seals from Chinese government authorities. These various certificates and stamps/seals are required in the company’s dealings with the government authorities. Many foreign investors may be confused about the usage of these items. What follows is a description of each of the certificates and stamps/seals obtained after the incorporation of a WFOE in China.
Before the official incorporation of a FIE, if it needs cash urgently for the purpose of pre-incorporation expenses, it can choose to set up a Temporary Capital Account. This account is to temporarily receive funds directly related to the investment in China. However, this account is not a necessity. It should be based on the needs and requirements of the company and approval by the State Administration of Foreign Exchange (SAFE).