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Budget
Following our previous discussion regarding the initial capital required for market entry, we will now examine the minimum budgetary requirements necessary to maintain a legally active corporate entity in China.
To ensure your company remains compliant and operational, the following 7 pillars of maintenance must be addressed:
Required Application:
Ensure you have the following documents ready for your extension application:
Registered Office Maintenance: Maintaining a valid commercial lease is a fundamental legal requirement. Rental expenditures vary significantly depending on the specific city, district, and building grade.
Residential Compliance and Police Registration: For resident visa holders, a stable, long-term residential address is mandatory to ensure valid police registration. These costs fluctuate based on the location and specifications of the residence.
Corporate Taxation: Entities are required to fulfill tax obligations based on both total business turnover and net profits.
Statutory Social Insurance: Employers are legally obligated to contribute to social security and insurance funds for themselves and their entire staff.
Annual Statutory Compliance: Companies must undergo a formal annual audit and complete the mandatory license renewal process each year.
Accounting and Tax Filing: It is essential to engage a qualified accountant—either as a direct employee or through an authorized service provider—to manage monthly and quarterly tax filings in a timely manner.
Visa and Work Permit Management: To remain in good standing with immigration authorities, work permits and residency visas must be renewed prior to their expiration dates.
For knowing more commercial issues in China, E-SNAVS Foreign Enterprises Service Center will be a good option for your enterprise, we have 20 years experience in this field, aiming for making your life and business easier in China.
