Law Firm Offering Business Registration And New Company Incorporation In Hong Kong


Foreign-invested commercial enterprises, commonly known as FICE, are fast becoming an ideal way for foreign investors to enter China’s Mainland market. Previously, foreign companies could only form trading companies on their own if they registered in the country’s Free Trade Zones. However, as part of China’s WTO commitment to let foreign-invested enterprises exercise trading and distribution rights, starting from December 11, 2004, foreign investors have been allowed to set up FICE in the country to conduct wholesale, retail, and other permitted businesses. Definition of FICE A FICE refers to an enterprise with foreign investment that engages in the following business activities: Commission agency: Sales of goods as an agent, broker, auctioneer or sales of others’ goods as a wholesaler through collection of fees on a contractual basis; and the related ancillary services thereof. Wholesale: Sales of goods to retailers, consumers from industry, trade and organizations, or to other wholesalers; and the related ancillary services thereof. Retail: Sales of goods to individuals or groups in fixed places or through television, telephone, mail order, Internet, or vending machines; and the related ancillary services thereof. Franchising: Authorization of the use of its trademark, trade name and operational mode through signing of contracts for the purpose of getting remuneration or franchise fees. Given that the spotlight is really on the growth of the China consumer market at the moment, our experience is that in the last couple of years we’ve seeing a large influx of foreign investors investing China by establishing a business in hong kong, comments Cory Lam, senior business development associate at Dezan Shira & Associates.

This is particularly apparent around the Yangtze River Delta region where many companies are looking to bring their high-end Western brands to the growing retail markets of Shanghai, Hangzhou, and Suzhou. FICE: Pros and Cons Establishing a FICE is one of the best ways for a foreign company to distribute its products in China. The pros and cons of a China FICE are listed below. Pros Can sell in RMB to local Chinese customers and issue fapiaos Ability to benefit from VAT rebates if exports are done through the FICE Can take control of the supply chain and expand the range of suppliers in China by purchasing in RMB Can establish and operate branch offices anywhere within China Can be 100 percent owned by a foreign entity Can hire directly Has no annual turnover or minimum asset requirements FICE can also carry out a wide range of activities, including wholesale, retail and franchising trade activities in China. Cons Requires registered capital to establish usually at least RMB500,000 to become a General VAT Taxpayer Can take several months to set up (typically 4-6 months) Export and VAT issues can be complex Need to obtain permission from several bodies The legal minimum capital under the law is RMB100,000 for a company with multiple shareholders, or RMB30,000 for a single-shareholder company. However, as the registered capital must reflect the needs of the business, it is usually far higher than the minimum requirement.

Depending on the type of operation, typical minimum capital required for approval is between RMB500,000 and RMB1 million. FICE: Tax Treatment The major taxes which apply to a FICE are value-added tax (VAT) and corporate income tax (CIT). Other taxes, such as business tax, consumption taxes, tariffs, property taxes, stamp duties, or vehicle and vessel usage license taxes, may also be payable based on different situation. Corporate Income Tax The taxable income of an enterprise is the net income after deducting the relevant business costs, such as administration, marketing and financial expenses, taxes on sales and depreciation. The standard CIT rate for a China FICE is 25 percent, the same as for Chinese-owned companies since 2008. Value-Added Tax All enterprises and individuals engaged in the sale of goods, provision of processing, repairs and replacement services, or importation of goods within China shall pay VAT. Under that structure, there are two types of VAT payers: VAT general taxpayers VAT small-scale taxpayers For the VAT general tax payers, the tax rate is generally 17 percent for most products. The tax payable shall be the balance of output tax for the current period after deducting the input tax for the current period. The formula for computing taxes payable is as follows: Tax Payable = Output Tax for the Current Period Input Tax for the Current Period For VAT small-scale taxpayers, the tax payable is: Tax Payable = Sales Amount x Applicable Tax Rate of 3 percent Most clients do not know that VAT registration will become a big part of the set up process, comments Lam. For FICEs, it is imperative to obtain the VAT general taxpayer status since without this they cannot deduct the VAT In from the VAT Out, and this will have a big impact on the margins. Gangfeng Group is foreign investment agent, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.

Assistance For All Of Your Legal Needs

When you first learn that you need legal help of some sort, you may start to worry about finding a good lawyer. Although it may seem scary, this really isn’t that difficult. Read on to learn about hiring a great lawyer.

Make sure to ask for your lawyers history prior to hiring decision. Just because the lawyer can practice doesn’t mean he is good. Be sure that you evaluate their record so that you’re able to determine how well he does his job.

You might not know that you are entitled to have everything you’ve shared with a lawyer to be kept confidential. For instance, if you speak with your lawyer about something dealing with your company, you do not have to worry because a lawyer is legally bound to not share this information with others.

You can speak up about a situation if it makes you don’t like. Your lawyer is supposed to keep your best interests at heart, but you are one of many cases that they have.

Keep good records of when you interact with the attorney. Write down any pertinent information like date and time, when you talked to each other, and what you talked about. This will help you if there are any disagreement about charges that may appear later.

Have plenty of questions ready when meeting with prospective lawyers to handle your potential lawyers. During your consultation, a good lawyer will be able to address whatever questions you might have for them. They are responsible for making you comfortable with the knowledge and experience they have. If they aren’t, then you need to look elsewhere.

Try using a lawyer referral services. These services may help you find the best lawyer for your case. Other services list lawyers who only meet the state bar’s guidelines for liability insurance. Find out what qualifications are necessary on any site you use this method to find a lawyer.

Your case might suffer if your attorney is too heavy. Ask your lawyer up front whether or not they have time to handle your case. They must be honest with regards to their schedule so you’re able to find a lawyer who has enough time.

It is important tot establish a solid working relationship with your lawyer so that you get along well. If you don’t like your lawyer’s personality, you’ll have a lot of trouble dealing with him or her no matter what their experience is. Trust your instincts when choosing a lawyer that suits you.

A great lawyer is aware that guarantees are not possible; the ones who make those claims are just to get you to hire them. This is something that must be looked out for when hiring a lawyer.

Once you comprehend the types of attorneys and legal issues, you will be able to find the perfect lawyer. Just make a few calls to places, ask some questions and you should be able to locate the assistance that you’re looking for. Best wishes as you proceed.

How To Find The Best Lawyer In Your Area

If you need to interact with the legal system for any reason, you might worry about finding the right lawyer for you. While the thought of it may be daunting, it really isn’t too difficult. Read on to find a great lawyer.

Always ask for a lawyer’s history before agreeing to use his services. Just because he/she is a licensed attorney doesn’t mean he is good. Be certain to understand his or her record before hiring.

This is typically a large cash settlement up for grabs. Do your research and hire the best lawyer on your terms.

Think of what your issue long and hard prior to looking for a lawyer. The first thing to do is think about whether you even need a lawyer. For example, real estate or criminal, have a lawsuit coming up or if you’re in a divorce.

Do not go with a lawyer you feel uncomfortable. This is also true with their fee schedule. Do not sign over a blank retainer checks. Get an estimate and do not let the lawyer have control over your wallet as well as the case.

Companies who work with legal professionals are going to be able to help you locate good resource for referrals. For example, if you’re into small business law, talk to an estate broker, banker, an accountant, etc. These types of people are frequently interacting with lawyers a lot and can provide more informed judgements.

Research the fee schedule of any lawyers you are considering. Sit and talk to them about the budget and whatever you hope to achieve. Know what cost overruns may happen.

Only use lawyers that you can trust. This is certainly the case if you are hiring a lawyer for your business matters. Many lawyers want huge retainer fees. Remember that hiring the wrong business lawyer can sink you are putting your financial life in their hands.You must be cognizant of your own well-being.

When choosing an attorney, be sure you learn whatever you can about their reputation.

Make sure you’re comfortable in every way about the lawyer that you chose. A top lawyer will both know what he’s talking about and be personable. Find a different lawyer if yours isn’t friendly.

If you do not get return calls in a prompt manner, give up and move on.

A good lawyer will never promise you anything just attempting to sell their services. This is a type of red flag you should watch out for.

Worker’s compensation provides aide to the worker as well as for his immediate family. Your lawyer can help to eliminate confusion as to the necessary steps you need to take to file your claim.

Look around when you visit a prospective lawyer’s office. Do you see their files in alphabetical order?Do they have a desk full of papers? Is the lawyers office cluttered and welcoming?

Whenever you understand more about lawyers in general, you’ll realize that all fall in small groups you can easily understand. Start by making a couple of phone calls and make sure to ask lost of questions so that you can get adequate help. Hopefully you’ll have some luck.

List Of Tips And Advice On Working With Lawyers

There are many different things to look for you. This is an important situation; you’re not just choosing what brand of gum at the store! Continue to read to learn how to choose an attorney.

This could be a scam where lawyers are simply looking for money. Do your research to hire a lawyer on terms you define.

You might not realize that anything tell your discussions confidential. This means he can’t discuss it with your family, competitors or anyone else, cannot be shared with any other third party.

You need to speak with your lawyer on a specific schedule.Many attorneys get hired then they disappear without contacting their clients for long periods of time. You may be able to avoid this sort of situation by setting up a schedule soon after you hire your attorney.

You can speak up about a situation if there’s anything that you don’t like. Although you lawyer wants the best for you, they also have many clients.

Talk to others about whether or now they know of a lawyer. This can pay a lot of benefits down the road for you save both money and time.

When selecting a lawyer, be sure you learn whatever you can about their reputation.

You want to have the best communication possible with your lawyer on a regular basis.If your case has certain deadlines, be sure you give it to them. This will be greatly beneficial to your case.

This will free you will only have to be concerned with the cost involved. This will also allow you plenty of time to put some money aside.

When searching for the best lawyer, be sure that you find someone who specializes in the area in which you need representation. Knowing in advance what a lawyer specializes in can help save you much time later.

Your case may languish if your attorney is very busy. Ask your lawyer up front whether they will have time to handle your case. They should be honest with regards to their schedule so you can find a lawyer who has the time you need to get the job done.

It will be easier to work with your lawyer so that you get along well. If you aren’t comfortable with a particular lawyer after you meet with them, it won’t work out so well. Trust your feelings and pick a lawyer.

You will have trouble finding a lawyer if you are suing for the wrong reasons. You are probably seen as nothing more than an instigator who will never be satisfied. Sue strictly for money and let the money.

One great way to find a good lawyer is to ask your friends for referrals. If your friend had a good experience with an attorney, you may have the same outcome.

Hopefully you now have a better understanding about what to look for when choosing a lawyer. Use the information given in this article on your search for a lawyer. Thanks to this article, you’ll be ready to get the task over with.

Find A Lawyer That Looks Out For You With These Tips

Lawyers might not be the most popular people, despite their bad reputations. You might even need to hire one right now. The article below has tips that will help you in your decision.

This is typically a large cash settlement up for money. Do your research and create a lawyer who will work on terms you define.

You might think about paying a lawyer a retainer just to be on the safe side. This will allow you not to be under too much pressure so you’re able to take some time when you’re looking for one in the case of an emergency. A retained lawyer is always available to give you advice or represent you in any way.

You may or may not be aware that anything tell your lawyer must be held confidential. This means that any business records, competitors or anyone else, including the court.

You should tell your lawyer if it makes you feel uncomfortable. Your lawyer will always have your best interests in mind, but understand you are just one case among many cases to them.

Before you hire any attorney, talk to your local bar association to find out whether they have had complaints in the past. If there are complaints, it need not act as a deal breaker; just make sure to not hire someone if they have a mile long list of complaints.

This is good since you will only have to be concerned with the financial implications. This will also allow you better regulate your finances better.

Your case may languish if he or she is too busy with other cases. Ask your lawyer immediately whether they will have time to handle your case.They must be honest about their schedule so you can find a lawyer who has the time you need to get the job done.

If the staff of your lawyer’s office is not returning calls quickly or treating you politely, it may not improve if you do become one.

Keep in mind that lawyers cannot work a miracle. Any lawyer who promises you a winning outcome should be avoided.Nothing can be guaranteed, so never get with a lawyer that says he’s always going to win.

Do you research before taking care of the Worker’s Compensation claim. Each state has laws regarding timelines and evidence differ. Worker’s Compensation is very different from all other claims and thus should do more research on this topic before filing. There are things that are slightly different standards to adhere to.

Use online resources to find the right lawyer. Most attorneys will have a strong online presence to promote their services. Look through the website for the firm to see how professional it is. If it looks like your 16 year old cousin made it, this could be a type of red flag meaning that they’re also inexperienced.

Lawyers have been here for years because they are necessary in society. You appreciate lawyers more when really need one. Use the given tips to find a lawyer that can represent you in your time of need.

How A Lawyer Can Help You Avoid Foreclosure

It can be quite rattling to know you must appear in court; however, but one thing that can make a difference in easing your nerves is finding an awesome lawyer. Choose the best lawyer who is qualified to represent you and relax. Keep reading to get some great advice on how to get the best assistance in and out of court.

Make sure to request a lawyer’s work history prior to hiring decision.Just because a lawyer can practice does not mean that he is successful. Be familiar with his or her background so that you have confidence in their capabilities.

You might not realize that anything shared between you and your lawyer is strictly confidential. This means he can’t discuss it with your family, competitors or anyone else, cannot be shared with any other third party.

Only hire a lawyer that you trust. This is certainly the case if you are hiring a lawyer for your business or professional matters. They are more likely to ask for retaining fees and blank checks. Remember that hiring the wrong business lawyer can sink you are putting your financial life in their hands.Try as much as possible.

Try using lawyer referral service. These referral services can help you look find some good layers. Others will list any favorable lawyer by the state bar’s standards that keeps liability insurance. Find out more about different referral services vet the lawyers before deciding which one to use.

You need to communicate with your lawyer. If deadlines are imminent, then you need to provide all that your lawyer needs. This will give you in the best chance to win your case.

You need to be totally comfortable with the lawyer you decide to hire. A great lawyer has the right expertise and good people skills so that you feel completely at ease when you see him.Find a new lawyer if yours doesn’t do this.

The lawyer will be able to provide you a better estimate if they know what all the information available. Being efficient when dealing with lawyers can save you money.

If they take long calling you back, this may be a hint as to how you will be treated as a client.

Talk to your attorney about jobs you can reasonable assume to reduce your own. You may be able to help by preparing the court paperwork ready. You can ask if you may also be able to run documents to and from the courthouse when needed to cut down on expenses.

Stay away from lawyers who seem overly confident about their ability to win your case. Any lawyer who is that confident is not a good lawyer.

Just because a person is the best in their field doesn’t necessarily mean you need to work with them. You need their professional skills, but it’s important to also remember you will spend lots of time with them working. You must both get along personally if you wish for things to work out.

As stated previously, having the right lawyer can make a world of difference when you must appear in court. Rather than hiring the first attorney you meet with, pick the best one. Keep this article’s tips in mind so that you’re able to succeed in court.

Making Your Way Through The Legal World: Tips And Advice For Success

You should have weighty legal matters.

Don’t choose the very first attorney you find. Do thorough research since choosing the wrong one can end badly. Ask around and look for as many people as you can to get quality information.

Don’t just accept the first lawyer in the Yellow Pages as your choice! It is critically important to research your choices to make certain you get the best. You might get some bad surprises if you base your choice only on a random lawyer and later discover that he or she had lost her license!

You need to touch base with your lawyer about the best time for you to work together. Many attorneys get hired then they disappear without contacting their clients for a long time. You may be able to avoid this sort of situation by setting up a schedule at the outset.

Don’t give your lawyer lots of money up front. Make sure that you are going to be refunded for any money not used.Talk to other lawyers if the initial costs are too high and the lawyer won’t work with you.

Use a lawyer referral service to find an attorney.These services can help you find some good layers. Other services list lawyers who only meet the state bar’s guidelines for liability insurance. Find out more about different referral services vet the lawyers before you use this method to find a lawyer.

When searching for lawyers, your selection should be one who specializes in your particular case. Knowing this beforehand and researching your options can save a lot of unnecessary phone-call time.

Your case may languish if your lawyer is too heavy. Ask your lawyer up front whether or not they have time to handle your case. They must be honest about their schedule so you’re able to find an attorney that has the time you need to get the job done.

Know your case before hiring an attorney. If you don’t know the specifics of your case, how can you choose a lawyer that is going to be the best suited for your case? This will ensure you in the qualifications and experience you should look for in a lawyer.

A good tip to remember if you have doubts is that you can always get a second opinion. A second opinion is a smart move before you make any decisions.

Look for information about the lawyer attended. A good school means that they had to work harder for their law degree. A great lawyer may graduate from a school that is mediocre, but you shouldn’t hesitate to ask about this stuff when looking over the options you have.

Worker’s compensation provides aide to the worker and their dependents.Your lawyer can help to eliminate confusion as to the necessary steps and forms that need to take to file your claim.

There is not a lot of joy found in legal proceedings. They often spiral downward when you don’t have a lawyer helping you out. This piece should have given you great tips to use as you navigate the precarious legal world.