Starting a Business in Hefei, China

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

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	Procedure	Time to complete:	Cost to complete:
1	Obtain notice of Pre-Approval of the Company Name	1 day	RMB 50.00
2	Open a preliminary bank account, deposit funds in the account and obtain the certificate of deposit	1 day	No cost
3	Obtain capital verification report from an auditing firm	7 days	RMB 500.00
4	Obtain registration certification "Business License of Enterprise Legal Person" from local Administration of Industry and Commerce (AIC)	7 days	RMB 688.78 (Registration fee: 0.08% of registered capital (RMB50 in minimum); copy of Business License: RMB20; copy of registration form: RMB15; company information card: RMB200; publication fee: RMB400; copy of legal entity representative certification:
5	Obtain approval from the police department to make a company seal	1 day	No cost
6	Make a company seal	2 days	RMB 200.00
7	Obtain the Organization Code Certificate issued by the Quality and Technology Supervision Bureau	7 days	RMB 148.00
8	Register for national tax	1 day	RMB 20.00
9	Register for local tax	1 day	RMB 20.00
10	Open a bank account for the company and transfer registered capital to the account	7 days	No cost
11	Apply for the authorization to print or purchase financial invoices	5 days	No cost
12	Purchase invoices	2 days	RMB 40.00 (RMB0.7-1.1 per set of invoices )
*13	File for recruitment registration with local Career Service Center	1 day (simultaneous with procedure 11)	No cost
*14	Register with Social Welfare Insurance Center	1 day (simultaneous with procedure 11)	No cost

* Takes place simultaneously with another procedure.

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:: No cost
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 688.78 (Registration fee: 0.08% of registered capital (RMB50 in minimum); copy of Business License: RMB20; copy of registration form: RMB15; company information card: RMB200; publication fee: RMB400; copy of legal entity representative certification:
Name of Agency:
Comment:

Procedure 5.: Obtain approval from the police department to make a company seal
Time to complete:: 1 day
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 7.: 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 10.: Open a bank account for the company and transfer registered capital to the account
Time to complete:: 7 days
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 11.: Apply for the authorization to print or purchase financial invoices
Time to complete:: 5 days
Cost to complete:: No cost
Name of Agency:
Comment:

Procedure 13.: File for recruitment registration with local Career Service Center
Time to complete:: 1 day (simultaneous with procedure 11)
Cost to complete:: No cost
Name of Agency:
Comment: