The Wuhan National Bio-industry Base, also known as the Biolake, is China's second largest state-level biotech industrial base in view of overall strength, located in Wuhan East Lake High-tech Development Zone.
[Photo/wehdz.gov.cn]
Its six major parks are for biology innovation, biomedicine, biofarming, medical devices, medical health and bioenergy, and have developed well in the base even as planning for an additional Sino-Singapore biotech park and a bio-manufacturing park is under way, which additions will make the Biolake a thorough R&D, incubation, production, logistics, administration and residential complex.
The base’s current tenants include eight of the world's Top 500 companies, 16 listed companies and 258 high-level startup teams from home and abroad. It generates one billion yuan of taxes a year, has gathered more than 30,000 professionals, and is now a first-class park nationally.
[Photo/wehdz.gov.cn]
To facilitate people who want to invest and
set up company in Wuhan National Bio-industry Base, here is an introduction of Types of business presence
in China:
Before starting up a business in China, you
have to know what are the options. Foreign Investors generally establish a
business presence in China in one of five modes: Wholly Foreign Owned
Enterprise (WFOE);Representative Office; Foreign Invested Partnership Enterprises (FIPE);
Joint Venture and HongKong Holding Company.
WhollyForeign Owned Enterprise (WFOE) is a Limited liability company wholly owned bythe foreign investor. WFOE requires registered capital and it's liability
of equity , can generate income, pay tax in China and it's profit could be
repatriate back to investor's home country. Any enterprise in China which is
100 percent owned by a foreign company or companies can be called as WFOE. No.
minimum registered capital is required for WFOEs with scope of business of
consulting, Trading, retailing, information technology etc. in China. There are
minimum registered capital still required for some industries for instance:
Banking, Forwarding etc Since China still maintains foreign currency control
policy, it's still advisable to choose registered capital within RMB 100,000 ~
RMB 500,000 as the minimum registered capital. Companies can now determine how
much capital will be required to maintain their operations and must simply
ensure that they meet those targets within a period of 10 years.
RepresentativeOffice (RO) is a Liaison Office of it's parent company. It requires noregistered capital. It's activities would be: product or service promotion,
market research of it's parent company's business, Quality Control liaison
office etc in China. RO generally is prohibited to generate any revenue nor
generating contracts with local businesses in China.
JointVenture (JV) is a Limited liability company formed between Chinese investor andForeign investor. The parties agree to create a entity by both contributing
equity, and they then share in the revenues, expenses, and control of the
enterprise. JV usually been used by foreign investor to engage the so called
restricted in areas such like: Education, Mining, Hospital etc.
SinceMarch 1, 2010, Measures of Establishment of Foreign Invested PartnershipEnterprises (FIPE) in China is taking effect. The regulation, which take
effect since March 1, 2010, are known as the Administrative Measures for the
Establishment of Partnership Enterprise in China by Foreign Enterprises or
Individuals. There's no required minimum registered capital for a Foreign
Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Wuhan, Hangzhou
and rest cities of China
HongKong Company usually been used as a Special Purpose vehicle (SPV) to investMainland China. Hong Kong is one of the quickest locations to Incorporate a
business. Although a HK company is not a legal entity in Mainland China
(MainlandChina and Hong Kong, See Wiki 1 country, 2 systems), lots foreign
investors, especially investors from Europe and North America still chose to
setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries
in China welcome foreign investment, WFOEsetting up in China becomes the first option of foreign investment's entitystructures instead of Rep. Office setting up in China At the mean time, for
tax purpose, effective licensing system etc more and more investors use Hong
Kong as the holding company to invest China mainland, using this offshore
company to hold their operations in China.
Business set-up in Wuhan is a big project
by itself, which requires financial and time commitments, business management
knowledge and China expertise. Identifying a competent agent to manage the
complex process will be a cost and time effective way to avoid potential
pitfalls
Since 2006, Tommy ChinaBusiness Consulting has been focusing on consulting services for our
clients to invest in Wuhan China. We are specialized in establishment of wholly
foreign owned enterprises (WFOEs), setting up of offshore companies, trading
services,tax minimization, Assist in obtaining government approvals and certificates
for running business, negotiate and draft various legal documents providelegal advice, negotiate government officer for Land acquisition. Advising
on formation of WOFE and business structures, managing and controlling WOFE in
Wuhan China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of
incorporation to get you a business license in Wuhan China. We offer a range of
company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises
(FIPE)
Please visit:http://www.tommyconsulting.com/CorporateFormation.html
Email: tomlee@tommyconsulting.com, Skype:
tomleeli
WhatSapp/Wechat/Cell Phone: +86 18926401128
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