Starting a Business in Fuzhou, China

This table summarizes the procedures and costs associated with setting up a business in Fuzhou.

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Registration Requirements Summary:

	Procedure	Time to complete:	Cost to complete:
1	Obtain notice of Pre-Approval of the Company Name	1 day	No cost
2	Open a preliminary bank account, deposit funds in the account and obtain the certificate of deposit	1 day	RMB 20.00
3	Obtain capital verification report from an auditing firm	7 days	RMB 600.00
4	Obtain registration certification "Business License of Enterprise Legal Person" from local Administration of Industry and Commerce (AIC)	7 days	RMB 158.97 (Registration fee: 0.08% of registered capital; copy of Business License: RMB10)
5	Obtain approval from the police department to make a company seal	2 days	RMB 250.00
6	Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau	7 days	RMB 148.00
7	Register for national and local taxes	1 day	RMB 30.00
8	Open a bank account for the company and transfer registered capital to the account	3 days	No cost
9	Apply for the authorization to print or purchase financial invoices	10 days	No cost
10	Purchase invoices	1 day	RMB 40.00 (RMB0.7-1.1 per set of invoices)
*11	File for recruitment registration with local Career Service Center	1 day (simultaneous with procedure 10)	No cost
*12	Register with Social Welfare Insurance Center	1 day (simultaneous with procedure 10)	No cost

* Takes place simultaneously with another procedure.

Registration Requirements Details

Procedure 1.: Obtain notice of Pre-Approval of the Company Name
Time to complete:: 1 day
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 2.: Open a preliminary bank account, deposit funds in the account and obtain the certificate of deposit
Time to complete:: 1 day
Cost to complete:: RMB 20.00
Name of Agency:
Comment:

Procedure 3.: Obtain capital verification report from an auditing firm
Time to complete:: 7 days
Cost to complete:: RMB 600.00
Name of Agency:
Comment:

Procedure 4.: Obtain registration certification "Business License of Enterprise Legal Person" from local Administration of Industry and Commerce (AIC)
Time to complete:: 7 days
Cost to complete:: RMB 158.97 (Registration fee: 0.08% of registered capital; copy of Business License: RMB10)
Name of Agency:
Comment:

Procedure 5.: Obtain approval from the police department to make a company seal
Time to complete:: 2 days
Cost to complete:: RMB 250.00
Name of Agency:
Comment:

Procedure 6.: Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau
Time to complete:: 7 days
Cost to complete:: RMB 148.00
Name of Agency:
Comment:

Procedure 7.: Register for national and local taxes
Time to complete:: 1 day
Cost to complete:: RMB 30.00
Name of Agency:
Comment:

Procedure 8.: Open a bank account for the company and transfer registered capital to the account
Time to complete:: 3 days
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 9.: Apply for the authorization to print or purchase financial invoices
Time to complete:: 10 days
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 10.: Purchase invoices
Time to complete:: 1 day
Cost to complete:: RMB 40.00 (RMB0.7-1.1 per set of invoices)
Name of Agency:
Comment:

Procedure 11.: File for recruitment registration with local Career Service Center
Time to complete:: 1 day (simultaneous with procedure 10)
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 12.: Register with Social Welfare Insurance Center
Time to complete:: 1 day (simultaneous with procedure 10)
Cost to complete:: No cost
Name of Agency:
Comment: