China is the ultimate jurisdiction for business. The country has a large population, a supportive administration, and most of the attributes that investors would want to see in a high-profile investment destination. However, there is one major challenge: registering a company in China can be a lengthy and expensive undertaking.
The process involves dealing with multiple departments and the documents required are not easy to prepare. Although the process is considered simplified compared to the requirements about 20 years back, navigating through is still murky. However, this should not stand on your way to get the benefits that come with opening a business in China. In this post, we demonstrate why working with an agency of experts can help you complete the registration process faster and with confidence.
China is a business paradise. From 1979, the country adopted economic reforms that have transformed it from an agricultural-based model to a manufacturing hub. Now, most products on the globe, from pharmaceuticals to electronics, are likely to have been manufactured in China. Here are other attributes that you need to know about China:
- The country is the most populous jurisdiction on the globe. Its population is slightly over 1.4 billion (2021 estimates).
- The country is the second-largest economy, only coming second to the United States. The nominal GDP of China is estimated at US$15.66 trillion (2020 estimates).
- When GDP is calculated based on Purchasing Power Parity (PPP), China is already the largest economy starting from 2014.
- China is currently the world’s largest exporter and second-largest importer on the globe. From 2010 to 2019, the country contributed 25-39% of the global GDP growth.
These numbers indicate one thing: a country that is ready to help your company grow faster and become a multinational. So, let’s take a closer look at how an agency of experts can help.
Get Help Registering Your Company from an Expert
China company laws allow foreigners looking forward to opening companies in the jurisdiction to use the assistance of agencies. The main advantage of this approach is that these professionals specialize in company formation and executive services. Therefore, they are able to follow the process as you focus on business’s core activities, such as preparing for entry into China and sourcing more funds. Here are other benefits that come from working with professionals.
- You are Able to Complete the Process of Registration Fast
The process of company registration in China takes a long time because investors have to prepare a lot of documents. For people who do not have a legal or business-related background, these documents can take a lot of time. Now, you can count on the experts to get all the documents done professionally and in no time. Therefore, your company will be registered a lot faster.
- The Experts can Help Your to Cut Down Cost of Company Registration
When some investors hear of hiring an agency of experts, what runs through their minds is the cost. Sure, it comes at a cost, but this is nothing compared to what you would spend when working alone. For example, you do not need to make multiple flights to China to prepare a land lease for the office or submit the registration documents because experts are there to handle it.
- You are Assisted in Crafting the Best Market Entry Strategy
Once the experts assist you in forming a company in China, they do not stop there. In addition, they assist you in crafting an appropriate strategy for market entry. Depending on the area of interest, the experts might recommend working with suppliers, partnering with consumer organizations and joining marketplaces.
China is a fast-evolving economy with multiple opportunities for investors. By working with an agency of experts, you are able to register your new company faster and affordably. The experts also hold your hands all through, and you can count on them for other executive functions, such as accounting, payroll management and filing tax returns.