Foreign Enterprises or Individuals Partnership Enterprise Set Up Services in Xiamen China

SHENZHEN, China - May 23, 2015 - PRLog -- Tommy China Business Consulting Announces to Offer Foreign Invested Partnership Enterprises (FIPE) Registration Services in Xiamen China, Establishment of Partnership Enterprise by Foreign Enterprises or Individuals in Xiamen China

Xiamen, as an important economic city Fujian Province, locates in the eastern coastal region of China. It enjoys natural advantages in developing its economy. It is on the west coast of the Taiwan Straits, and is separated from Quemoy island only by a narrow stripe of water. Xiamen is a traditional trading port in southeast China and a famous tourist coastal city as well. Xiamen has a diverse and well-developed economy. Primary economic activities include fishing, shipbuilding, food processing, tanning, textiles, machine tool manufacturing, chemical industries, telecommunications and financial services. The city has economic and trade relations with 162 countries and regions worldwide, and benefits from foreign investment, particularly capital from Hong Kong, Macau and Taiwan

Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in China is taking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Shenzhen, Hangzhou and rest cities of China

In Mainland China, there are 4 modes of business presences for foreign investors: WFOE(65%), Representative Office(20%-), FIPE(10%+), Joint Venture(5%). FIPE becomes more and more popular among young entrepreneurs with their new start ups in China as it requires no registered capital but the FIPE still could hire people, collect payments, issue invoices, apply for work & residence in China freely. It's not a surprise that most people you meet in China may not know anything about FIPE as it's relative new and government is not promoting on this.

Condition(s) of establish FIPE in China
A partnership enterprise must meet the following requirements:
1. At lease 2 or more partners
2. A written partnership agreement;
3. Capital contribution subscribed to or actually paid by the partners;
4. A business name and an office in an office building for the partnership enterprise;

Documents required
1. Corporate investor as partner: Certificate of Incorporation, or Articles of formation or equivalent document certified by Chinese embassy or Chinese consulate overseas For individual investor as partner: Passport copy be certified by Chinese embassy or consulate
2. Residential Address Proof (e.g. utility bill issued within 3 months, valid driving licenses with address, National Identity card with address, etc.) be certified by Chinese embassy or consulate
3. Bank Reference letter be certified by Chinese embassy or consulate (Managing partner only)
4. Passport copy of: (i) Parent company's director (ii) China Partner Enterprise's general partner and (iii) China Partner Enterprise's partners China general partner and partners provides: 6 photos (2 inches size), brief resume. Registered capital; Business Scope; 8 proposed Chinese names of China business Office address in China, leasing contracts, certificate of real estate ownership, and landlord identification

GENERAL TAX INFORMATION
No corporate income tax required. The partners shall pay their respective share of the partnership income.

PROFIT REPATRIATION
China Government allows Foreign Invested Parnter Enterprises remit their profits out of the country and such remittances do not require the prior approval of the State Administration of Foreign Exchange (SAFE). Dividends cannot be distributed and repatriated to oversea if the losses of previous years have not been covered while dividends not distributed in previous years may be distributed together with those of the current year. Repatriating the Registered Capital to home countries is forbidden during the term of business operation.

“Foreign Invested Partnership Enterprises (FIPE) Setting Up in Xiamen is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls”   says, Tom Lee, CEO and Co-Founder of Tommy China Business Consulting.

About Tommy China Business Consulting

Having been in business for over 10 years, Tommy China Business Consulting is a leading business consulting firm, providing a variety of China business services such as joint venture negotiation, government relations, business setup consulting, legal, product sourcing and   visa services. TCBC also provide extensive China travel assistances to business travelers. In the past decade, TCBC has successfully negotiated a large number of business agreements between foreign firms and Chinese manufacturers and have set up many WFOEs in China.

For more information about it, please visit Http;//www.tommyconsulting.com