Joint venture enterprise

About Joint Venture:

A joint venture can turn under-utilized resources into profit, create a new profit center, and help you enter untapped markets more quickly and less costly than WFOE.
Joint Venture is a popular method of expanding business. Major corporations and mid-sized companies are getting together, and small companies can, too, on a less formal basis.
Joint venture partners are matched by a process of closed proposal. Interested parties should submit a proposal of they would like to implement, stating what they bring to the project and what they expect from a Joint Venture partner.

Registration Procedures

Foreign companies are not allowed to directly submit the application documents to the relevant authority. They must retain a PRC entity that is authorized or permitted by relevant authorities to act as an agent. The agent will submit all the documents to the examination and approval authority on behalf of the foreign enterprise. Procedures to set up the Wholly Foreign Owned Enterprise in Shanghai are as following:
Step1: Check and Register Company Name (about 3 days)
Step2: Apply for Approval Certificate (about 15 days)
Step3: Apply for Business License (about 15 days)
Step4: Apply for Organization Code License (about 1 day)
Step5: Register in Shanghai Tax Bureau (about 15 days)
Step6: Open a RMB bank account (about 3 days)
Step7: Register Foreign Currency Certificate (about 1 day)
Step8: Check the registered capital (about 5 days)

Documents Required for Joint Venture Registration:

1. Project Proposal and Application Form for Project-Establishment
2. Two copies of the IDs of the Chinese and foreign investors
3. Two copies of the investors' legal Certificates of Business (Business License)
4. The Credit Certificate given by the bank where an investor has opened an account
5. Feasibility Report
6. Contract and appendix
7. Constitution of the company and the appendix
8. Name list of the directors of the board
9. List of equipments and accessories need to be imported
10. Other documents are subject to the requirement of the government