Wholly Foreign Owned Enterprises are used in manufacturing, trading, wholesale, foods & beverages, retail, IT and consulting (B2B).
Choosing a WFOE as instrument of investment in China has the following advantages: -Legal person status -Complete independence in terms of corporate strategy due since no Chinese partner is involved -Ability to conduct business, issue invoices and generate revenues -Facilities for converting RMB profits into USD or other foreign currencies to transfer back to parent company or foreign bank account
(for individual investors) -Full control on human resources and the hiring process -Legal protection of company's assets, technology etc. -Business License is usually valid for 15~30 years, or more
Disadvantages include: -Long and costly registration process -Registered capital, that can be high, needs to be paid up in full -Application and approval is required in case of business scope modification or expansion.
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