How to Structure Your Business in China Hao Wang.

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Presentation transcript:

How to Structure Your Business in China Hao Wang

Questions from Business Clients What if I do not plan to make any investment now, but I still need to do business in China? I know there is a market for our products and I am ready to go. What do I do next? I would like to start an on-line gaming business in China, but I heard there are restrictions relating to foreign ownership.

Structure Options Representative office Wholly-Owned Foreign Enterprise Sino-Foreign Joint Venture Trust structure

Representative Office Liaison and communication Easy to set up Restrictions on direct recruitment of local staff Tax for cost center Rep office plus local partner

WOFE Guidance on Foreign Investment in different industries Total investment vs. registered capital Holding your subsidiaries in China via an investment company

WOFE [Part One: Industry Guidance] Mechanism used for macro economic control Different editions published at different times reflect policy orientation at time of publication Encouraged, restricted and prohibited categories

WOFE [Part Two: Total Investment vs. Registered Capital] Total investment=registered capital+debt Ratio Why registered capital matters * name, e.g.. XYZ(China) Co., Ltd. * match business operation scale * capital increase approval Injection schedule

Joint Venture Why a JV is needed * Restrictions on equity percentage held by foreigners * Difficulties in setting up a WOFE (e.g. banks) * Regulatory hurdles in foreign mergers & acquisitions Two forms of JV Sweet or sour marriage?

Trust Structure Type(s) of Angelo-Saxon trusts that are recognized under PRC Trust Law 2001 Commercial trusts are widely used as investment vehicles Savvy foreigners use trust structure to get around regulatory hurdles (e.g., on-line gaming business)

Legalmall: One Stop Shop for Doing Business in China Legal Document Templates Company Search: find who you are dealing with in China Service: Set up a company in Beijing/ HK Ask a Lawyer FAQ: tips you need to know

Legalmall: a platform to find Clients from China Chinese clients seek answers from attorneys from multiple jurisdictions Chinese clients check foreign partners background information Chinese clients need foreign legal templates

Thank You!