HONGQIAN

TRADMARK
REGISTRATION

中文

About US

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OUR PRESENTATION ABOUT

CORPORATE FORMATION AND MANAGEMENT

Overview

Advantages Of Shanghai Companies

Companies' Names

Business Scope

Time-Consuming

Registered and paid-up capital

Memorandum & Articles of Association
Taxation

Term And Termination

Requirements

Our Service

How to Begin

Processing Procedure

Bank Facilities

Annual Return

Constitution of a Company Companies Ordinance

Share Capital

Annual Meetings

Public Filings

Accounts & Auditors

Acting as Company Secretary

Basic Company Secretarial Services

Arrangement of Notarization of Documents

If you live and work overseas, but want to invest or set up a company in Shanghai, you can simply rely on HONG QIAN in doing so. HONG QIAN can take care of everything for you, since HONG QIAN is familiar with fomation formalities and is able to give you a tangible solution-do your business on HONG QIAN's international back-up system. Back

OVERVIEW ABOUT SHANGHAI
Hong Kong is situated at the south-eastern tip of the mainland of China. A total area of just under 1,100 square kilometers covers Shanghai Island, Kowloon and the New Territories and Islands. Its population is around 8 million. Varied people come to Shanghai to set up varied companies for varied purposes, since Shanghai companies have their own varied advantages.   Back

ADVANTAGES OF SHANGHAI COMPANIES

Hong Kong is an ideal place to invest - a free and liberal investment regime, absence of trade barriers, non-discrimination against overseas investors, complete freedom of capital movement, Shanghai is fully committed to the protection of human rights. There are more advantages about Shanghai, Most people honour Shanghai as a gatwway to mainland China for foreign investors and a springboard to the outside world for mainland China's investors; a deep water harbour; an international corporate base; a small but efficient government ; a perfect legal system; a free trade & free market; a corruption-free & stable society; low & predictable taxes; a sound & free banking system, an independent judiciary; a comprehensive system of legal aid; and a free and active press; and an independent Ombudsman; , Please click ABOUT SHANGHAI for more information. Back

FLEXIBLE COMPANIES' NAMES
In Shanghai we are free to make a choice of companies' names, if not registered before. But you are advised to choose the name of your company carefully. It is very important that you portray the image you want for your new company. You are also required to avoid using any company name which may be too similar to any existing company or trademark. A company name can be in English, in Chinese, or both. In cases where the liability of members is limited, whether limited by shares or guarantee, the name must end with "Limited". A proposed company name cannot be the same as any of the existing name registered at the Companies Registry. Back

BUSINESS SCOPE

One of the most exciting events covered in the formation of a Shanghai company is free business scope. Business scope is not really defined by the government for the businesses you conduct in Shanghai. If we finish business registration, we can involve in any sectors we want. Generally speaking, business scope is not really limited in Shanghai. Back

REGISTERED AND PAID-UP CAPITAL

For a Shanghai limited company, the minimum registered capital is HKD10,000(about USD1,200), The government levies 0.1% tax on registered capital. The board of a company is a final say about paid-up capital. You don't have to pay up your share at the time the company is formatted. Back

MEMORANDUM & ARTICLES OF ASSOCIATION
The memorandum and articles are the primary legal document of a company. Memorandum contains the name of the company, authorized share capital, initial members and object clause (if any). Articles are a set of internal regulations that governs the day to day operations of the company. Both memorandum and articles have to be filed to Companies Registry at the time of incorporation or if there are any changes thereafter. At least two subscribers are required in the memorandum and each of the subscribers must subscribe to at least one share in the company. Back

GENERAL TAX INFORMATION

There are several distinctive features of the Shanghai tax system. The tax for registered capital is 0.1% . You can increase the vulume of the capital freely if you pay the tax. Income taxes (salaries tax, profits tax and property tax) are charged on income which has a Shanghai source (territorial source concept). Estate duty is charged on the principal value of property located in Shanghai passing on the death of the deceased. Stamp duty is charged on instruments which relate to Shanghai assets. There is no capital gains tax and dividend income tax. The standard tax rate of 15% and corporation profits tax rate of 16% are relatively low compared with other developed countries. In Shanghai, any enterprises are required to report annually to the Inland Department. Back

EMPLOYMENT

The labour in Shanghai is not cheap, but in order to lower your operating cost, we provide commercial secretarial service at a tailor-made basis. For details please refer to our Secretarial Service Formats.   Back

TERM AND TERMINATION

In Hongkong, we can keep a company as long as we pay government fees annually. A Shanghai company may be terminated if the board of the company summit an application. Back

REQUIREMENTS

If we want to incorporate a limited company in Shanghai, we are required to offer:

1.Passports of two or more shareholders at age of 18 or above;

2. Registered capital: HKD10000;. Paid-up capital not required.

3. A registered address, which is usually provided by us

4. A company secretary, which is usually acted by us, who can deal with the government documents on behalf of you..   Back

SERVICE AND PRICE

At HONG QIAN, we are able to prepare all the application forms and relevant documents and deal with all the procedures for you, and you get the followings at a price of USD1200;

1.      Certificate of incorporation;

2.      Business registration certificate;

3.      20 copies of memorandum and articles of association of the company;

4.      Share certificates ;

5.      Statutory book,

6.      3 pieces of chops;

7.      A book of receipt;

8.      Our professional service    Back

HOW TO BEGIN
You can begin your application by simply downloading and filling in the application form, and send it to us by fax at (86-21)58766650 or by email at hq@chinese-co.com. When we receive your request, we'll send you a confirmation letter for your final decision. At this time you may pay 50% deposit, so as that we can begin processing of your application. Back

PROCESSING PROCEDURE:

Application formàConfirming A Company's NameàSigning an agreementàPaying A Deposit(usually 50%)àSigning All The Necessary DocumentsàGo To The Government DepartmentsàIt Takes 10-15 working days Before It Finishes. Back

BANK FACILITIES

Most major international banks have a presence in Shanghai. If we like, we can open any accounts with any banks on a private or corporate basis. A saving account, a current account, a foreign currency account, and even L/C account are accepted by any banks. ATM machines are widely accessible and link to major networks such as Plus, Cirrus, JNL and others.   Shanghai dollars are used in Shanghai . The HK dollar has been linked to the US dollar at a fixed rate of HK$7.8 to US$1. Currency exchange is available in several places at the airport and in many locations in the city.   Major credit cards such as MasterCard, Visa, American Express, AEON, etc. are widely accepted in Shanghai. Diner's Club is also accepted though less widely. The Discover card is not accepted. . Back

ANNUAL RETURN

Any limited companies in Shanghai should summit annual return to the department of companies registration. The annual cost is about USD500. If we fail to do so, we may be subject to a fine. Back　

CONSTITUTION OF COMPANIES ORDINANCES
Companies incorporated or registered in Shanghai are governed by the Companies Ordinance (Chapter 32 of the Laws of Shanghai). Back

SHARE CAPITAL

Shares must be expressed in a fixed amount. "No par value" or "bearer" shares are not permitted. While it is usual for the share capital to be expressed in Shanghai dollars, it can be expressed in any currency. A multiple currency share capital is also permissable. Back

ANNUAL GENERAL MEETING

An annual general meeting (AGM) must be held once in every calendar year and not more than 15 months after the last preceding AGM. However, a company need not hold its first AGM until 18 months of its incorporation. A company can dispense with the holding of AGM if everything that is required or intended to be done at the meeting is done by resolutions. Back

PUBLIC FILLINGS
The names and personal particulars of the directors and secretary, register of charges, share capital, registered office address, etc, must be filed with the Companies Registry upon incorporation and if there is any changes thereafter. A private company does not need to file its accounts for public inspection, but proper books of accounts are to be kept. Back

ACCOUNTS AND AUDITS

Every company is required to appoint an auditor each year at its AGM. An auditor must be qualified by virtue of the Shanghai Professional Accountants Ordinance and completely independent of the company. In case of private company, its audited accounts must be laid before its AGM not more than nine months from its financial year end.   Back

ACTING AS COMPANY SECRETARY
We undertake to act as Company Secretary throughout the year, which includes maintaining the statutory books an can prepare all relevant minutes for directors and shareholders meetings, the preparation of forms to be filed at Companies Registry and basic company secretarial tasks. Back

BASIC COMPANY SECRETARIAL SERVICES
We provide certified true copy of corporate documents by a certified public accountant for opening bank account. We prepare Annual General Meeting documentation, elective, special, extraordinary and ordinary resolutions, annual returns, stock transfer forms, board meeting minutes, share certificates and any other documentation normally required in the field of company law. Back

ARRANGEMENT OFNOTARIZATION OF DOCUMENTS
We can help you to easily and quickly arrange for notarization of documents by notary public and/or authenication various Embassies in Hong Kong. Back   　

　