Kaizen - Powers of a Manager of a Company in China, China Foreign Invested Enterprises, China FIEs, Registered Capital, Wholly Foreign Owned Enterprsie, WFOE

A Wholly Foreign Owned Enterprise (WFOE) is a Limited Liability Company established in China by foreign investor(s). A WFOE is very much like a LLC in the USA that it requires one member only.
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The registration procedures of a Wholly Foreign Owned Enterprise (WFOE) could be divided into 3 phases: aproval phase, registration phase and post-establishment phase.
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A Wholly Foreign Owned Enterprise (WFOE) could be terminated by way of liquidation or deregistration by its investor(s) or when the conditions of termination in its Articles of Association occurs.
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China Taxation

Under the current tax system in China, there are 25 types of taxes which could be divided into 8 categories. The major ones are Business Tax, Value Added Tax and Enterprise Income Tax. More

Representative Offices are also liable for Business Tax and Enterprise Income Tax. However, a RO could be exempted if its parent company is in the manufacturing business.
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Any individual who has domicile in China or who has no domicile in China but has resided in China for one year or more shall pay Individual Income Tax on his world-wide income.
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CHINA BUSINESS REGISTRATION
WHOLLY FOREIGN OWNED ENTERPRISES

POWERS OF A MNAGER OF A COMPANY IN CHINA

A limited liability company may have a manager, who shall be hired or dismissed upon decision of the board of directors. The manager shall be responsible for the board of directors and shall exercise the following powers:

1. Taking charge of the management of the production and business operations of the company, organizing the implementation of the resolutions of the board of directors;

2. Organizing the execution of the company’s annual operational plans and investment plans;

3. Drafting plans on the establishment of the company’s internal management departments;

4. Drafting the company’s basic management system;

5. Formulating the company’s concrete bylaws;

6. Proposing to hire or dismiss the company’s vice manager(s) and person in charge of finance;

7. Deciding on the hiring or dismissal of the persons-in-charge other than those who shall be decided by the board of directors; and

8. Other powers conferred by the board of directors.

If the articles of association provide otherwise for the powers of managers, the articles of association shall be followed. The manager attends the meetings of the board of directors as a non-voting representative.

Please feel free to Contact Us for further information.




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