WFOE: EXAMINATION AND APPROVAL FOR WFOE

According to the PRC WFOE Law and its Implementing Rules as amended in April 2011, there should be a Project Proposal Approval stage before the final examination and approval. In practice, however, these two stages are combined into one.

You should submit the following documents to the local Approval Authority for application for project approval:

–       a written application for the establishment of WFOE

–       a Feasibility Study Report (usually, a 10-20 page document)

–       The Articles of Association of the proposal WFOE

–       A list of the proposed chairpersons and the WFOE board of directors, as well as appointment letters

–       The legalized incorporation document of the WFOE investor

–       A credit certificate of the WFOE investor issued within 3 months

–       Lease agreement for the premises

–       Pre-approval certificate for the use of name, issued by AIC and

–       Other documents that may be required by the Approval Authority

How long will it take? Approval Authorities are required to make their decision within 45 days from the receipt of all documentation.