Stage 1: Check name and Pre-approval of name of WFOE
Agency: State Administration of Industry and Commerce (SAIC). Processing time is within 2 working days.
Stage 2: Application for setting up WFOE
Agency:Municipal Bureau of Commerce. Get the Certificate of Approval needs15- 20 working days normally.
Stage 3: Processing of Organization Code License
Agency: Need about 3 working days normally. Processing fee is RMB 120.
Stage 4: Industry and Commerce registration Agency: State Administration of Industry and Commerce (SAIC). Processing time is 7 working days.
Stage 5: Tax Certificate by Taxation Bureau Agency:Municipal Local Taxation Bureau. Processing time is within 5 working days.
Stage 6: Verification report
Agency: Elite Stage. Processing fee is based on the registration capital and processing time is within 7 working days.
Stage 7 – Engraving Services for Enterprise Seal to be used on official documents
Agency: State Public Security Bureau. Processing fee is RMB 400 and processing.
Stage 8 – Registration of Administration of Foreign Exchange for overseas capital transfer
Agency: Foreign Exchange Control. Processing time is 20 days after acceptance of the registration.
Stage 9 – Opening Bank Account and verification capital account
Customer processing: Any reputable banks. Processing time and fee depend on the charges of each bank.
Stage 10 – Registration for Financial LicenseAgency: State Financial Bureau. Processing time is 2 days after acceptance of the registration.
Stage 11 – Registration for Statistic and Audit License
Agency: Regional Bureau of Statistics of China. Processing time is 2 days after acceptance of the registration.
Stage 12 – Final Business License
Agency: Municipal Bureau of Commerce. Processing time is within 5 working days.