China fast business set up solutions

Because China is a developing emerging market country, registering a new business is both challenging and time consuming.

Using their preferred corporate structure, our multi-national Clients should expect to legally conduct business in China within 6 months (click link).

As a work around solution (click link), Healy Consultants Group PLC provides our multi-national Clients two fast business set up options:

  1. Acquiring a dormant clean ready-made China company with an already approved dormant corporate bank account (known as a turnkey solution); or
  2. Incorporating a new company using Healy Consultants Group PLC professional, passive nominee shareholders and directors and bank signatory (known as a Fast Nominee Solution (click link);

With these two fast business set up solutions, our multi-national Clients can expect to legally conduct business in China within 4 to 6 weeks. Refer to more detailed information below:

  • Comparing business set up strategies

    QuestionFast Nominee SolutionTurnkey solutionRegister a new business
    Our recommended solution in order of preference?123
    How soon can our Client legally issue sales invoices to customers?1 month1 week4 months
    How soon can our Client legally sign sales contracts with local customers?1 month1 week4 months
    How soon can our Client recruit local and expatriate staff?1 month1 week4 months
    Estimated total cost of this engagement?US$46,810US$39,110US$17,650
    Estimated paid up share capital to be injected over the coming 2 months?US$15,000US$15,000US$15,000
    How soon can we supply our Client a bank account number?4 weeks2 weeks5 months
    Physical office required to be leased during company registration?YesYesYes
    Must apply for tax numbers?YesYesYes
    Must apply for an import\export license?YesYesYes
    Must apply for a regulatory license?YesYesYes
    Foreign investment Government approval required before legally conducting business?YesYesYes
    How long to appoint our Client’s preferred corporate structure?8 months6 months4 months
    Total engagement period; to finish the engagement?10 months8 months6 months
    Draft sales invoice – press buttondraft invoice for China fast nominee companydraft invoice for China turnkey solutiondraft invoice for China LLC company

  • Advantages and disadvantages of a fast business set up solution

    No.AdvantagesNominee companyShelf Company
    1.Within 1 month, our multi-national Clients can legally conduct business in China;YesYes
    2.Our Client does not have to travel to China for company registration and multi-currency corporate bank account opening;YesYes
    3.Our Client can immediately recruit staff to help complete business set up;NoYes
    4.The entity is already registered for tax, including payroll, corporation tax, sales taxes;NoYes
    5.Government administrative tasks\delays are tackled after business set up, rather than before company registration;YesYes
    No.DisadvantagesNominee companyShelf Company
    6.It is an expensive solution;YesYes
    7.It is necessary to spend 4 weeks changing the business activity and change company name;NoYes
    8.It is necessary to spend 4 months appointing our Clients’ preferred shareholders and directors;YesYes
    9.It is necessary to spend 2 months appointing our Clients' preferred bank signatory;YesYes
    10.It is necessary to spend 1 week to ensure the entity is clean and dormant;NoYes
    11.Government foreign investment approval is still required?YesYes
    12.The company might have had business operations in the past, which makes the handover process more complicated.NoYes

  • Steps to register a fast nominee Solution

    No.StepsWeek
    1.Healy Consultants Compliance Team receives the required corporate and personal due diligence (click link) information from our Client;1
    2.Our Client signs Healy Consultants Group PLC engagement letter and returns the original to our Singapore Head office. Our Client settles our fees;1
    3.Our Client confirms by email the planned corporate structure and e-mails the required due diligence;2
    4.For our Client, Healy Consultants Group PLC prepares a tailored detailed project plan (click link);2
    5.Healy Consultants Group PLC supplies our Client due diligence re our temporary professional, passive nominee shareholders and directors, and bank signatory;3
    6.Healy Consultants Group PLC registers a national LLC with our temporary professional, passive nominee shareholders and directors and injects the paid-up share capital to a temporary multi-currency corporate bank account;5
    7.Healy Consultants Group PLC registers our Client company for tax;7
    8.If required, Healy Consultants Group PLC will apply for i) a specific regulatory license and ii) an import export license;7
    9.The China bank supplies corporate bank account numbers to Healy Consultants Group PLC, while we act as temporary bank signatory;15
    10.Healy Consultants Group PLC emails our Client a template customer sales invoice complying with local commercial laws and includes i) a company name and number ii) a company office address and iii) a corporate bank account number and iv) a tax number. Our Client can legally conduct business in China;15
    11.Healy Consultants Group PLC prepares and emails our Client the required documents to appoint them as directors and shareholders and bank signatory including i) the legal share allotment and legal share transfer ii) the change of company address and iii) the lease agreement in China (if required);16
    12.Our Client reviews and signs the documents in front of the China Embassy Consular at our Client’s country of residence and courier return the same;17
    13.Healy Consultants’ Group PLC and our Client attends a meeting with the China bank to appoint our Client as the new bank signatory and submit the corporate bank package containing:

    • Signed appointment of bank signatory forms;
    • Client’s passport copy and proof of address;
    • China company kit;
    • Other Client due diligence.
    18
    14.Following a review of the corporate bank account signatory change application, the bank(s) may revert to Healy Consultants for additional information. Healy Consultants and our Client provides the same in a timely manner;22
    15.There is a 50% chance that the bank will ask the new bank signatory to travel for a one-hour interview. As always, Healy Consultants will aggressively negotiate for a travel exemption, asking the bank to just perform a Skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to China;24
    16.The bank approves the appointment of the new bank signatory and will courier internet banking documents (login, password etc) to Healy Consultants office or to our Client directly. If sent to us, we will activate internet banking on our Client’s behalf;28
    17.Healy Consultants Group PLC will apply for a Foreign Investment Approval Certificate from the Ministry of Commerce (click link);29
    18.Following a review of the foreign investment license application, Ministry of Commerce may revert to Healy Consultants for additional information. Healy Consultants Group PLC and our Client provides the same in a timely manner;33
    19.The Ministry of Commerce approves the foreign shareholder to purchase shares in the local company. Immediately after, Healy Consultants Group PLC submits an application to the Ministry of Commerce to amend the Business License;37
    20.State Administration of Industry and Commerce issues the amended Business License, showing the new shareholder and charter capital;41
    21.Immediately after, Healy Consultants Group PLC emails our Client i) Foreign Investment Approval Certificate ii) amended Business License and iii) new M&AA showing the appointment of the new foreign shareholders and directors;42
    22.Healy Consultants Group PLC will courier the following to our Client:

    • Company kit containing original China corporate documents;
    • The banking kit;
    • Healy Consultants Customer Satisfaction Survey;
    42
    23.Healy Consultants Group PLC successfully completes our Client’s engagement.42

  • Steps to purchase a fast turnkey solution

    No.StepsWeek
    1.Healy Consultants Compliance Team receives the required corporate and personal due diligence (click link) information from our Client;1
    2.Our Client signs Healy Consultants Group PLC engagement letter and returns the original to our Singapore Head office. Our Client settles our fees;1
    3.Our Client confirms by email the planned corporate structure and e-mails the required due diligence;2
    4.For our Client, Healy Consultants Group PLC prepares a tailored detailed project plan (click link);2
    5.Healy Consultants Group PLC provides our Client i) a company name and number ii) a company office address and iii) a corporate bank account number and iv) a tax number;3
    6.Healy Consultants Group PLC emails our Client a template customer sales invoice complying with local commercial laws and includes i) a company name and number ii) a company office address and iii) a corporate bank account number and iv) a tax number;3
    7.Our Client can inform customers and suppliers; issue invoices for selected products and services, sign legal contracts and hire local staffs in China. Healy Consultants Group PLC will inform our Client if some business activities require additional approval and licenses from the Government;4
    8.If required, Healy Consultants Group PLC will apply for i) a specific regulatory license and ii) an import export license. There can be additional Government requirements to secure the same including higher paid-up capital requirements;5
    9.Healy Consultants Group PLC prepares and emails our Client the required documents to appoint them as directors and shareholders and bank signatory including i) the legal share allotment and legal share transfer ii) the change of company address and iii) the lease agreement in China (if required);6
    10.Our Client reviews and signs the documents in front of the China Embassy Consular at our Client’s country of residence and courier return the same;7
    11.Healy Consultants Group PLC and our Client attends a meeting with the China bank to appoint our Client as the new bank signatory and submit the corporate bank package containing:

    • Signed appointment of bank signatory forms;
    • Client’s passport copy and proof of address;
    • China company kit;
    • Other Client due diligence.
    8
    12.Following a review of the corporate bank account signatory change application, the bank(s) may revert to Healy Consultants for additional information. Healy Consultants and our Client provides the same in a timely manner;10
    13.There is a 50% chance that the bank will ask the new bank signatory to travel for a one-hour interview. As always, Healy Consultants will aggressively negotiate for a travel exemption, asking the bank to just perform a Skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to China;12
    14.The bank approves the appointment of the new bank signatory and will courier internet banking documents (login, password etc.) to Healy Consultants office or to our Client directly. If sent to us, we will activate internet banking on our Client’s behalf;16
    15.Healy Consultants Group PLC will apply for a Foreign Investment Approval Certificate from the Ministry of Commerce (click link);17
    16.Following a review of the foreign investment license application, Ministry of Commerce may revert to Healy Consultants for additional information. Healy Consultants Group PLC and our Client provides the same in a timely manner;21
    17.The Ministry of Commerce approves the foreign shareholder to purchase shares in the local company. Immediately after, Healy Consultants Group PLC submits an application to the Ministry of Commerce to amend the Business License;25
    18.State Administration of Industry and Commerce issues the amended Business License, showing the new shareholder and charter capital;29
    19.Immediately after, Healy Consultants Group PLC emails our Client i) Foreign Investment Approval Certificate ii) amended Business License and iii) new M&AA showing the appointment of the new foreign shareholders and directors;30
    20.Healy Consultants Group PLC will courier the following to our Client:

    • Company kit containing original China corporate documents;
    • The banking kit;
    • Healy Consultants Customer Satisfaction Survey;
    30
    21.Healy Consultants Group PLC successfully completes our Client’s engagement.30

  • Conclusion

    1. If our multi-national Clients wish to legally conduct business as soon as practical, then I recommend one of the above fast business set up solutions;
    2. If our multi-national Clients wish to minimize business set up costs, I recommend registering a new LLC with your preferred corporate structure and bank signatory.

Contact us

For additional information on our company registration services in China, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi