Concept of Guangzhou Company

 

Guangzhou Company is a limited liability company set up in Guangzhou. Shareholders are domestic companies or individuals of Chinese nationality aged 18 years old and above, shall be responsible for the company to the extent of the capital contributions they have paid.

 

GZ Company is broadly classified into: Guangzhou Domestic Company, Guangzhou foreign funded enterprise, Chinese-foreign Joint Venture (JV), Chinese-foreign Cooperative Joint Venture,

Guangzhou Partnership Company, Individual Proprietorship Enterprise etc.

Narrow Sense of GZ Company: Guangzhou Domestic Company

 

Registered Capital and Paid-Up Capital

 

1. The minimum amount of registered capital of a limited liability company shall be RMB30, 000.

If any law or administrative regulation specifies a higher minimum amount of registered capital for a limited liability company, the provisions of that law or administrative regulation shall prevail.

2. Guangzhou Individual Proprietorship Enterprise: Minimum registered capital is 100,000RMB, should be paid up in one time.

3. Two-Person Company: Minimum registered capital is 30,000RMB, capital contribution shall not be less than 20% of the registered capital for the first time; also may not fall below the minimum standard of statutory registered capital, with the balance being remitted within 2 years.

4. Investment Company: Minimum registered capital is over 10,000,000RMB (including 10,000,000RMB), capital contribution shall not be less than 20% of the registered capital for the first time; also may not fall below the minimum standard of statutory registered capital, with the balance being remitted within 5 years.

5. Company Limited by Shares: Minimum registered capital is 5, 000,000rmb.

 

Company Name of Guangzhou Company

 

The name of Guangzhou Company should be in the form of Administrative division (Guangzhou) + Trade Name + Sector Expression +Limited. Each enterprise shall use only one name and not be the same with or similar to the registered name in the same industry. If the word “China” is within the company name, it is required to be pre-approved by ICAB at national level in Beijing.

 

Business Scope

 

Business scope is one of the most important issues in FIE registration application, divided into the licensed business item and the general business item. Licensed business item means a pre-approval is needed before business license application. General business item means ordinary item which can be registered in Bureau of Industry and Commerce directly. Guangzhou Foreign Invested Enterprise can only conduct business within its approved business scope, which ultimately appears on the business license. There is some connection between business scope and register capital. Generally speaking, larger register capital, more business items can be approved.

 

Shareholder, Director and Manager, Legal Representative, Supervisor

 

1. Shareholder must be Chinese natural person or legal entity.

2. Director and Manager can be the same person, acted by shareholder, non-shareholder.

3. Legal representative is a person in charge of corporate operation, management and development, responsible for all the legal affairs arising from the running of the business, acted by director, manager, shareholder or non-shareholder.

4. Supervisor shall not serve concurrently as legal representative and senior management, acted by shareholder, non-shareholder. Supervisor’s duty is that check the company’s financial condition; supervise executives’ behavior of performing his duties, propose suggestions on dismissing any director or senior manager whose behavior is contrary to laws and regulations

 

Documents Required

 

1. Company Name of Guangzhou Company

2. Determine shareholder, business scope

3. Determine register capital, shares allocation proportion

4. Office address in China, 2x original leasing contracts, 2x copies of house property certificate

with company stamp or signature of lesser and 2x landlord identification documents (The lessee should be acted by legal representative or investor. The area is required no less than 30 ㎡ and for commercial use only with more than one year’s rent and the lease contract should be endorsed by local Housing Management Authority)

5. ID Copy of Shareholder, Director, Legal Representative, Supervisor.

 

Working Time Needed

 

1. Manufacturing enterprise: 20-40 working days (the time of approval papers application from the fire & environmental protection bureaus is not included)  

2. Trading& Service enterprise: 20-30 working days.

 

Guangzhou Company Registration Service

 

1. Guangzhou Company Business License

2. Having a corporate seal engraved by the public security authorities

3. Seal Carving Registration card

4. Organization Code Certificate 

5. Digital Certificate of Organization Code Certificate

6. National Tax and Local Tax Certificates

7. Assist bank opening, but not including the bank charges

8. Three stamps (company stamp, financial stamp and personal stamp of legal representative)

All the certificates above include original one and duplicate one.

 

General Tax Information

 

All enterprises are required to report to the Tax Administration Department monthly, quarterly and annually. ZANYA provides accounting services for our clients; you are welcome to contact us for more information.

 

Annual Audit Report

 

Any limited companies in China should summit annual audit report to the relevant authorities. Any company will be subject be to a fine if the Annual Audit Report is not submitted in a timely manner.

 

Follow-up Service

 

ZANYA provides a series of business follow-up services such as, prepare monthly financial statements for tax filing purpose, monthly bookkeeping and tax return, and file Corporate Income Tax Return quarterly, internal auditing, financial planning and tax layout, Audit of Financial Statements and China policy & market study. Etc.

 

For further information or assistance, please feel free to contact us

 

Tel: (86.20); 37887606        Mobile: 13928789801 (You can inquire in English)

Fax: (86.20); 37887609         E-mail: 2291837655@qq.com

 Wechat:563491716            Skype: zanyaco                  

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Address: Room 1703,KB Digital Plaza,Shi pai xi Road,No.8,Tianhe District,Guangzhou