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Business License Application in China
No enterprise or self-employed person is allowed to open a business in China without a business license, nor can they engrave official chops, sign contracts, register trademarks, advertise, or, of course, open a bank account. Therefore, after registering a company, a business license must be applied for in order to start the business officially. The State Administration for Industry and Commerce of China (SAIC) issues the business license, which shows that the business or organization is operating legally.
The registration matters of a business license include name, address, the person in charge, amount of capital, economic composition, business scope, mode of operation, number of employees, period of operation, etc. A business license can be original and copied, and both have the same legal benefits.
The Process of Applying For a Business License
1.Apply and approve the name
Applicants first have to go to the local SAIC office to get a company name pre-approval application form, fill it out and submit it to the SAIC office to retrieve. If the name is not taken, the office will issue a Notice of company name pre-approval.
2.Apply for business registration and submit information
After obtaining the notice of company name pre-approval, you can proceed to the business registration procedures. Fill out the registration form, decide what your business will be about and where it will be, and submit the company information.
3.Wait for the approval and receive the license
After submitting the application for registration and related information to the SAIC office, you will be notified in about 5 working days. The company that meets the requirements can go to receive the business license.
4.Follow-up matters
Although you have received the business license, before the official operation of your business, you still have to follow up with matters such as chop engraving, basic bank account, tax reporting, social security payment, and invoice application.
Business License Processing Fee and Deadline
Notice fee: RMB 320
Business license fee: RMB 80
The opening registration fee: The fee would be 1% of the total registered capital if the total registered capital is below RMB 10 million. If the total registered capital exceeds RMB 10 million, the excess will be paid at 0.5%. If the total registered capital exceeds RMB 100 million, the excess is not required to be paid. The minimum amount of the opening registration fee is RMB 50.
The above fees are also applicable to foreign-invested enterprises. However, the opening registration fee for branches and offices of foreign-invested enterprises is RMB 300. Still, the opening registration fee will be the same as above for branches that don’t meet the requirements for a legal person or for branches of a legal person business that can’t take on civil liability on their own.
As for the period, the business license of an individual business is valid forever, unless it is voluntarily canceled or revoked due to a violation of the law. A limited company business license is generally valid for 10 years and can be extended after its expiration. A foreign enterprise business license is generally valid for 20 years, but it can be up to 30 years. The registration certificate for a sole proprietorship or a representative office is valid for one year and needs to be renewed every year.
If you need any assistance in applying for a business license, please feel free to contact us.
