China Business Start Up

China is a land of opportunity with a rapidly-developing economy and infrastructure. Many Healy Consultants' clients setting up a company in China hope to reap the rewards of business in this emerging market. Although starting a business in China is complicated by the country's bureaucracy and cumbersome legal framework, our experience in this area is of great value to clients who wish to set up a company in China. Although starting a business in China is complicated and time consuming, Healy Consultants ensures that the process is as straightforward as possible. Our transparent, logical engagement procedure ensures setting up a company in China is done efficiently.
1.	Despite the complexities of starting a business in China, global investors choose to do so to tap the huge opportunities on offer in one of the world's fastest-growing economies.
2.	When setting up a company in China, note that the country has signed double taxation treaties with many countries, offering tax exemptions to entrepreneurs planning to incorporate a company in China.
3.	China is now the world's single largest recipient of foreign direct investments (FDI) among developing countries. This is a key reason why many foreign investors choose to set up a company in China. In some provinces, incorporating a China entity has become increasingly popular due to favourable local economic conditions.
4.	Those wishing to set up a company in China should note that it offers the best corporate banking facilities in Asia, including a multi-currency business bank account supported by the best internet banking platform in the world, with leading international banks such as HSBC, Standard Chartered and Citibank.
5.	Although setting up a company in China is complex and lengthy, recent changes to Chinese company law have streamlined procedures.
6.	Since its accession to the World Trade Organisation (WTO) in 2001, China has made considerable legal and regulatory progress. In short, investors starting a business in China now receive improved protection for intellectual property rights. Increasing numbers of investors are being encouraged to begin setting up a company in China.
7.	When starting a business in China, note that a China company is the perfect gateway into China, particularly when supported with a China Virtual Office.
8.	China and Hong Kong signed a Free Trade Agreement, called the Closer Economic Partnership Agreement (CEPA) in 2004. The agreement has opened the Chinese market to Hong Kong-based businesses.
9.	China has strong client confidentiality laws however, has made a commitment to compliance with OECD guidelines and is part of the OECD ‘white list’.
10.	Despite the obvious potential of China, investors wanting to set up a company in China should be aware of the many challenges which remain, including:
	Bureaucracy - China is still a developing market and despite the great economic and regulatory strides it has made in recent years, the process of setting up a company in China remains complex and time-consuming. Protection of Intellectual Property Rights - one of our clients' key concerns when starting a business in China is the protection of their Intellectual Property Rights (IPR). Under the terms of its accession to the WTO in 2001, China is a signatory to the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement. However, concerns remain among those who have set up a company in China or those planning on starting a business in China about the effective enforcement of IPR protection laws in the country. Understanding Chinese business culture - after setting up a company in China, our clients tell us that this is one of the greatest challenges they face. Healy Consultants offers a comprehensive business orientation service to clients planning on starting a business in China. These courses include language sessions, tailored chauffeur-driven guided tours and introductory courses on Chinese business etiquette.
11.	Healy Consultants offers a wide range of services for clients planning setting up a company in China. These include but are not limited to:
	Introducing possible joint-venture partners for investors planning to set up a company in China; Market research and feasibility study prior to setting up a company in China; Attending to corporate and personal tax registration after starting a business in China; Assistance in finding office space and staff recruitment after starting a business in China; Opening of bank accounts in local and foreign currencies after setting up a company in China; Book keeping and audit of accounts; and Virtual Office services, including mail collection and forwarding services in China, an e-mail address and website, and a telephone and fax number in China to support investors who are starting a business in China.
12.	The process for setting up a company in China is straightforward with Healy Consultants. Our transparent, logical engagement procedures ensure an efficient set up for those starting a business in China. Engagement procedures to set up a company in China typically evolve as follows:
	Our client settles our fees and signs Healy Consultants engagement letter; Healy Consultants provides our client who wishs to set up a company in China with a detailed engagement plan, outlining a roadmap for the upcoming engagement, thus minimising unwanted surprises and meeting client expectations; Healy Consultants legally incorporates the China company, with the correct corporate structure, see company registration procedures; Healy Consultants completes corporate bank account opening for our client who wishes to set up a company in China, which includes world-class multi-currency Internet banking facilities; Healy Consultants provides our client who wishs to set up a company in China with a local business address in China for invoicing purposes, together with telephone, fax and email support; Healy Consultants assists our client with business website building, search engine advertising, as well as stationary and logo design; Healy Consultants assists our client who wishs to set up a company in China to obtain corporate finance, trade finance and to open merchant accounts; Healy Consultants assists our clients who wish to set up a company in China to locate business premises and recruit local staff; Following completion of the engagement, Healy Consultants e-mails an engagement feedback survey to our client.
Contact Us
For additional information on China business start up, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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Purchase the China chapter of Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com