China simplifies registration of foreign companies

[nurnobi40]

Shanghai authorities have allowed foreign companies that want to enter the market to register remotely. Business licenses will also be issued online.

Applications for registration must be submitted through a special platform (for now, the main information is in Chinese; an English version is under development). There, entrepreneurs will be given instructions on how to prepare documents.

As Anna Davydova, head of the commodity foreign trade department at overseas chinese in europe data Tochka, explains, Shanghai is an excellent location for international business, since it is home to a free trade zone and offers additional benefits to foreign investors.The ability to register a company remotely will make it even easier for foreign companies to enter the market.

The new platform does not solve all the problems of foreign entrepreneurs: in China, including Shanghai, there are still difficulties with opening a bank account for a foreign company. “If you are planning long-term work with China, then it makes sense to consider the possibilityhire a Chinese citizen with relevant work experience as the company director. He will be able to resolve all operational issues on the spot, including those related to interaction with banks, and the beneficiary and founder of the company can be a citizen of the Russian Federation with a Russian passport,” says Anna Davydova.