Home > > Latest Posts

Starting a Business in Shanghai, China

Oct 11, 2013 02:07 PM EDT

Skyline in China (Photo : Flickr)

Below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.

It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

No. Procedure Time to Complete Associated Costs
1 Obtain notice of Pre-Approval of the Company Name  1 day RMB 80.00
2 Open a preliminary bank account, deposit funds in the account and obtain the certificate of deposit 1 day No cost
3 Obtain capital verification report from an auditing firm  5 days RMB 500.00
4 Obtain registration certification "Business License of Enterprise Legal Person" from local Administration of Industry and Commerce (AIC) 5 days RMB 429.02 (Registration fee: 0.08% of registered capital; copy of Business License: RMB10)
5 Obtain approval from the police department to make a company seal  1 day No cost
6 Make a company seal  1 day RMB 300.00
7 Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau  2 days RMB 148.00
8 Register with the local statistics bureau 1 day RMB 50.00
9 Register for national and local tax 7 days RMB 100.00
10 Open a bank account for the company and transfer registered capital to the account  5 days No cost
11 Apply for the authorization to print or purchase financial invoices 3 days No cost
12 Purchase invoices 1 day RMB 17.50 (RMB0.7-1.1 per set of invoices)
*13 File for recruitment registration with local Career Service Center 1 day (simultaneous with procedure 11) No cost
*14 Register with Social Welfare Insurance Center 1 day (simultaneous with procedure 11) No cost

* Takes place simultaneously with another procedure.

All content © 2023 Fortis Group Inc. 61 Broadway 2Floor, New York, NY 10006

Contact us | Privacy Statement | Terms & Conditions