Youly provides consulting services to clients who are interested in doing business in China. Our service covers the whole life cycle of the business entities set up by foreign investors in China.
(1) Pre-project consultation and planning
China’s macro-control market economy encourages foreign investment in China on the one hand and restricts or even forbids foreign investment in certain fields and industries on the other. If you are interested in opening up the Chinese market, you need to understand the relevant laws, regulations, policies and practices in China to ensure the feasibility of the project implementation.
In China, different business activities may require operation licenses in addition to business license, and certain amount for registered capital or parent company qualifications and assets. These should also be clarified before the implementation of the project.
China has a vast territory, the economic development of various places is not synchronized, and it also maintains different attitudes towards investment in different industries. For example, relatively developed areas no longer welcome projects that have a negative impact on the environment, while less developed areas are relatively flexible. These have an important impact on the location and settlement of related projects.
Last but not the least, when planning a project, we should also understand and evaluate the business environment and fiscal & tax policies of the candidate places, especially tax concessions, so that the project can create higher and more sustainable returns for investors after landing.
Typical services: Consultation on investment and legal environment in China Project feasibility consultation and advisory Preferential policy consultation Project location proposal …
(2) Implementation of investment projects
If you have decided to invest in China, Youly will provide you with a package of services from documentation to formalities, until you can engage in the desired business as a qualified entity.
From the perspective of Chinese law, an enterprise has the ability to carry out business when it has obtained a business license. However, from a practical point of view, the enterprises also need to complete tax registration and bank account opening in addition to the business license, in order to really engage in business activities.
If your enterprise needs to engage in import and export business, it also needs to go through the registration formalities at customs and entry & exit bureau.
China implements administrative licenses for specific industries, e.g. the operation of food and drugs. If your company wants to engage in such business, you also need to apply for the relevant administrative license in advance.
Typical services: Arrangement of communication with Chinese authorities (if demanded) Establishment of representative offices in China (document preparation and formality handling) Formation of foreign-invested enterprises (document preparation and formality handling) Handling of follow-up procedures (tax registration, bank account opening, social security & housing fund registration, etc.) Application for operation license and industry qualification (if required) …
(3) Follow-up and maintenance service
After the enterprise is put into operation, it is necessary to set up account books and file tax returns regularly (zero declaration if the enterprise does not carry out actual operation).
For the sake of operating costs and other considerations, many clients often do not have financial personnel in their enterprises, but outsource this part of the work to the finance & tax team of Youly. By the same token, we also provide clients with personnel agents, legal support and other services.
According to Chinese law, no matter whether the enterprise carries out business or not, after its establishment, the enterprise needs to conduct an annual report on its credit information on a regular basis every year.
These are all part of our enterprise maintenance service. With these services, foreign investors can even stay at home and run their China business remotely (operate-from-abroad), without having to come to China in person or send staff to China, nor do they need to recruit staff in China.
Typical services: Enterprise change registration (document preparation and formality handling) Bookkeeping and tax declaration Invoice application and issuance Preparation of financial statements (in accordance with Chinese or foreign accounting standards) Enterprise & senior management tax planning Preparation of payroll, calculation and declaration of individual income tax Application for foreigners’ work and residence permit Legal support for enterprise operation & management Financial and tax consulting services to enterprise operation Handling of enterprise annual inspection & report …
(click here to see our typical cases)