Deregistration Of A WFOE Company In China

Information provided below will guide you to:
● Introduction of Wholly Foreign Owned Enterprise (WFOE)
● Documents Required & Registration Procedures of WFOE
● Accounting services after WFOE Incorporated in China
● 1 Year All Inclusive Package (Company Formation, Accounting and Audit All Included)
● De-registration of a Company (WFOE) in China (Shanghai, Beijing, Shenzhen)

Company Dissolution in China

PROCEDURES, CHECKLIST AND COSTS OF A WFOE DEREGISTRATION

PROCEDURES:

Steps to Closing a Company in China

1. Apply the dissolution to the foreign investment approval authority
The foreign invested enterprise shall, prior to the outset of the dissolution and liquidation procedures, require the approval of the original examination and approval authority of the enterprise (the local foreign trade and Economic Cooperation Commission), and provide the following documents to the original approval authority:
01. The Cancellation registration form
02. Board resolution or the resolution of shareholders’ meeting
03. Business License
04. Approval Certificate

The approval document of agreeing the dissolution of the enterprise will be issued out in 10 working days after the approval authorities received the application of termination and related materials whilst the announcement of the dissolution will need be made on the management system of the national foreign invested enterprises.

2. The establishment, filing and announcement of the liquidation group
The enterprise shall set up a liquidation committee within 15 days upon approval date of dissolution and start liquidation in accordance with the law. The liquidation committee shall be composed of the legal representative of the foreign invested enterprise, of the creditors and the competent authorities concerned and with the engagement of the Chinese CPA and attorneys.　
The liquidation group shall make the record with the administrative department for Industry and Commerce of the place where the enterprise is located after the establishment and submit:
01. The for record application form for the company signed by the chief of the liquidation group (with company seal)
02. The certificate of the designated representative or agent signed by the company with company seal and the copies of the ID card of the designated representative or the authorized agent.
03. The resolution of the shareholders' meeting regarding the establishment of the liquidation group (signed by shareholders representing 2/3 or more of the voting rights, the shareholders shall be signed by the natural person and the shareholders of the non-natural person shall be signed with the company seal)
04. The copy of couterpart of legal person business license of enterprise;
05. Other documents required by Industrial and Commercial Bureau.
The liquidation group shall notify the creditors within ten days from the date of its establishment, and shall make a public announcement in the newspaper within sixty days.

3. The cancellation of all kinds of work

Ⅰ. Tax clearance and cancellation of the Tax Bureau
The required documents:
01. A written application for cancellation of tax registration
02. The registration form for Cleaning up and destroying blank invoice
03. The transfer list of the enterprise gold tax card and IC card
04. The tax registration certificate
05. Invoice book
06. Clear the tax and submit Tax Clearance Declaration Report  (an audit report prepared by CPA firm)
07. The resolution of the board of directors or other relevant documents, or the notice of termination or agreed to terminate the relevant resolutions issued by the economic and Trade Commission and other relevant departments
08. The statement of enterprise income tax of last year
09. Balance sheet and income statement for the last period
10. Liquidation audit report to be provided (for foreign invested enterprise only)
11. The cancellation of the contact list of tax rebate (exemption) of the export goods
12. The inspection notice of the VAT general taxpayer
13. Other relevant documents and materials required by the tax authorities
Approval time: 10 working days



Ⅱ. The cancellation of the Custom
The required documents:
01. Application for cancellation signed by company stamp
02. The resolution or decision made by the supreme authority stipulated by the AOA
03. The custom certificate
04. The copy of couterpart of legal person business license of enterprise
05. Other relevant documents required by the government
Approval time: within 10 working days after the submission of all required documents

Ⅲ. The cancellation of the Industrial and Commercial Bureau
The required documents:
01. The cancellation registration application form for the foreign invested company signed by the chief of the liquidation group
02. The approval letter of agreeing the cancellation of the liquidation from the orginal approval authority
03. The resolution or decision made in accordance with the law
04. The recorded and confirmed liquidation report
05. The cancellation of the Tax and customs registration certificate;
06. The cancellation of the registration certificate of the branch offices
07. The IC card and the copy of counterpart of legal person business license of enterprise;
08. Other relevant documents required by the government
Approval time: within 30 working days after the submission of all required documents

Ⅳ. The cancellation of the foreign exchange
The required documents:
01. Approval time: within 10 working days after the submission of all required documents
02. The resolution or decision made by the supreme authority stipulated by the AOA
03. The liquidation report or the documents of the creditor's rights and liabilities cleared by the liquidation organization 　
04. The original copy of the foreign exchange registration certificate
05. The copy of couterpart of legal person business license of enterprise
06. Other relevant documents required by the government
Approval time: within 20 working days after the submission of all required documents

Ⅴ. The cancellation of the bank account
The required documents:
01. Application for cancellation signed by company stamp
02. The photocopy of the cancellation of the Industrial and Commercial Bureau
03. The other relevant documents by the bank where the account was opened
Approval time: within 2 working days after the submission of all required documents

Ⅵ. The cancellation of the technical supervision Bureau
The required documents:
01. Organization code certificate and IC card
02. Application for cancellation signed by company stamp
03. The photocopy of the cancellation of the Industrial and Commercial Bureau
Approval time: Will be handled immediately after the submission all the required documents

Ⅶ. The cancellation of the Bureau of Statistics
Required documents:
01. The photocopy of the cancellation of the Industrial and Commercial Bureau
02. Statistics Registration Certificate
Approval time: Will be handled immediately after the submission all the required documents

Ⅷ. The cancellation of the Bureau of Finance
The required documents:
01. Original copy of financial registration certificate
02. Application for cancellation signed by company stamp
03. The photocopy of the cancellation of the Industrial and Commercial Bureau
Approval time: Will be handled immediately after the submission all the required documents

Ⅸ. The cancellation of Public Security Bureau
The required documents:
01. Company stamps
02. The original for record registration for the company
03. Application for cancellation signed by company stamp
04. The photocopy of the cancellation of the Industrial and Commercial Bureau

CHECKLIST:

Documents required for WFOE de-registration:
• Originals of Certificate of approval, Letter of approval, Business License
• Taxation registration certificate (2 originals)
• Enterprise Code certification (2 originals)
• Statistics registration certificates
• Foreign exchange accounts permits
• Copy of Legal Representative’s passport (first page, signature page and most    recent immigration records’ page)
• Bank Account Certificates
• All chops of WFOE (Company chop, finance, Legal representative)
• All accounting related documents: bank statements, invoices of WFOE expenses

Information provided below will guide you to:
● Introduction of Wholly Foreign Owned Enterprise (WFOE)
● Documents Required & Registration Procedures of WFOE
● Accounting services after WFOE Incorporated in China
● 1 Year All Inclusive Package (Company Formation, Accounting and Audit All Included)
● De-registration of a Company (WFOE) in China (Shanghai, Beijing, Shenzhen)

If you have any questions about your China business, please feel free to contact us for free.
Contact us in Shanghai, Beijing, Shenzhen or HK for more details: