Key Considerations when setting up a WFOE in China
A Wholly Foreign-Owned Enterprise (WFOE), sometimes spelled WOFE, in China is a Limited Liability Company (LLC) which is established exclusively by the foreign investor’s capital (“wholly foreign-owned”). Our free WFOE white paper explains what a WFOE is and details the requirements and procedures for setting up a WFOE in China.
In the early days, the concept of WFOE was established with the aim of boosting manufacturing and exporting activities in China and there existed entry barriers for service-related companies. However, once China officially became a part of World Trade Organization in November 2001, tariffs on agreed products were reduced and market access was granted to foreign investments in many industries of which technology and service industry were the most dominant one. As of recent years, for most foreign investors in China a WFOE has become the preferred entry mode to access the Chinese market.
The establishment of a Wholly Foreign-Owned Enterprise is subject to various laws and regulations in China, even some businesses in certain industries are still prohibited to set up their WFOE in China. To provide a better understanding on what is possible and what is required, we have prepared an extensive WFOE white paper to address the most important topics and considerations to take in mind when setting up a WFOE in China.
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