Law Firm Offering Business Registration And New Company Incorporation In Hong Kong

Foreign-invested commercial enterprises, commonly known as FICE, are fast becoming an ideal way for foreign investors to enter China’s Mainland market. Previously, foreign companies could only form trading companies on their own if they registered in the country’s Free Trade Zones. However, as part of China’s WTO commitment to let foreign-invested enterprises exercise trading and distribution rights, starting from December 11, 2004, foreign investors have been allowed to set up FICE in the country to conduct wholesale, retail, and other permitted businesses. Definition of FICE A FICE refers to an enterprise with foreign investment that engages in the following business activities: Commission agency: Sales of goods as an agent, broker, auctioneer or sales of others’ goods as a wholesaler through collection of fees on a contractual basis; and the related ancillary services thereof. Wholesale: Sales of goods to retailers, consumers from industry, trade and organizations, or to other wholesalers; and the related ancillary services thereof.

Retail: Sales of goods to individuals or groups in fixed places or through television, telephone, mail order, Internet, or vending machines; and the related ancillary services thereof. Franchising: Authorization of the use of its trademark, trade name and operational mode through signing of contracts for the purpose of getting remuneration or franchise fees. Given that the spotlight is really on the growth of the China consumer market at the moment, our experience is that in the last couple of years we’ve seeing a large influx of foreign investors investing China by establishing a business in hong kong, comments Cory Lam, senior business development associate at Dezan Shira & Associates. This is particularly apparent around the Yangtze River Delta region where many companies are looking to bring their high-end Western brands to the growing retail markets of Shanghai, Hangzhou, and Suzhou. FICE: Pros and Cons Establishing a FICE is one of the best ways for a foreign company to distribute its products in China.

The pros and cons of a China FICE are listed below. Pros Can sell in RMB to local Chinese customers and issue fapiaos Ability to benefit from VAT rebates if exports are done through the FICE Can take control of the supply chain and expand the range of suppliers in China by purchasing in RMB Can establish and operate branch offices anywhere within China Can be 100 percent owned by a foreign entity Can hire directly Has no annual turnover or minimum asset requirements FICE can also carry out a wide range of activities, including wholesale, retail and franchising trade activities in China. Cons Requires registered capital to establish usually at least RMB500,000 to become a General VAT Taxpayer Can take several months to set up (typically 4-6 months) Export and VAT issues can be complex Need to obtain permission from several bodies The legal minimum capital under the law is RMB100,000 for a company with multiple shareholders, or RMB30,000 for a single-shareholder company. However, as the registered capital must reflect the needs of the business, it is usually far higher than the minimum requirement. Depending on the type of operation, typical minimum capital required for approval is between RMB500,000 and RMB1 million. FICE: Tax Treatment The major taxes which apply to a FICE are value-added tax (VAT) and corporate income tax (CIT). Other taxes, such as business tax, consumption taxes, tariffs, property taxes, stamp duties, or vehicle and vessel usage license taxes, may also be payable based on different situation. Corporate Income Tax The taxable income of an enterprise is the net income after deducting the relevant business costs, such as administration, marketing and financial expenses, taxes on sales and depreciation. The standard CIT rate for a China FICE is 25 percent, the same as for Chinese-owned companies since 2008. Value-Added Tax All enterprises and individuals engaged in the sale of goods, provision of processing, repairs and replacement services, or importation of goods within China shall pay VAT. Under that structure, there are two types of VAT payers: VAT general taxpayers VAT small-scale taxpayers For the VAT general tax payers, the tax rate is generally 17 percent for most products. The tax payable shall be the balance of output tax for the current period after deducting the input tax for the current period. The formula for computing taxes payable is as follows: Tax Payable = Output Tax for the Current Period Input Tax for the Current Period For VAT small-scale taxpayers, the tax payable is: Tax Payable = Sales Amount x Applicable Tax Rate of 3 percent Most clients do not know that VAT registration will become a big part of the set up process, comments Lam. For FICEs, it is imperative to obtain the VAT general taxpayer status since without this they cannot deduct the VAT In from the VAT Out, and this will have a big impact on the margins.

Gangfeng Group is foreign investment agent, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.

Choosing the Right Law Firm

Many of us hope that there isn’t a day when we have to find the perfect attorney to plead our case. Unfortunately, life’s circumstances can create situations beyond our immediate control. When many people find themselves in a situation where they could need legal representation, they didn’t plan to end up there. Rarely do we consider our legal options without dire need or reason. It’s a shame that a hasty decision when choosing a law firm can lead to less than optimal results when it comes to true legal representation. By setting a standard of checking credentials and past cases & results, you can find out if this attorney is the man for the job.

Many attorneys have a public record. Many great attorneys will advertise their successes. A simple Google search might be able to merit some past cases which that attorney has granted legal representation. These valuable sources of information can help you find out if this attorney is experienced in an instance like your particular situation and if they have had past successes. These past successes represent more than a simple verdict; it can represent the wit and aptitude of that attorney to perform in difficult situations, and it gives you a confident track record to base the decision off of.

Law firms often have a particular forte. Some law firms would specialize in things like criminal law, helping defendants to ensure that they have the best possible defense and representation in the court room. Other law firms might specialize more in family law matters such as divorce or possibly bankruptcy. These cases often have very different proceedings. Due to that, it would always be the right decision to opt for the lawyer with experience in the field that you need most. In a more simple sense, you would never call your plumber to rewire the electrical panels in your home. Beyond the suits and ties, law firms are often not too different in terms of their strengths and weaknesses.

Finding that premier attorney is of the utmost importance when it comes to your legal representation. It is always imperative to find someone with the legal knowledge and understanding to represent you best. It’s also important to find a law firm which has attorneys who fully listen and understand your case. An attorney who is invested in their work will be able to find details in your case solely by understanding more about the situation and more about you. There is a bright side to this; if you do your homework and pick carefully, you certainly will find the right law firm for the job.

The Many Questions to ask a Charlotte Family Lawyer before Hiring

It is easy to believe that you can hire just any Charlotte family lawyer to help you with your situation. But is this really true? Can you really trust just anybody to handle everything for you?

While every lawyer has something unique to offer, it is safe to say that some are better than others. This is particularly true when it comes to those who deal with family law.

For example, Charlotte Family Lawyer Timothy Porterfield is known to be among the best of the best due to his experience, knowledge, and overall reputation. When you hire somebody with a reputation like his, you can be rest assured that you are in good hands from beginning to end.

To avoid any mistakes and to ensure that you are working with the right family attorney, here are five questions that you should ask:

These are just five of the questions that you can ask as you speak with multiple Charlotte family lawyers about your situation in an attempt to find the one that is best for you.

Before making a hiring decision, ask as many questions as you want. Any lawyer who is not willing to answer them is not worth your time. You deserve answer before you make a decision. This way you can be assured of having the right legal counsel on your side no matter what happens along the way.

Legal Advice For Multi-level Marketers

Multi-level marketing (MLM) is a popular method of selling products. In this system, participants get paid for selling various products to other participants. These participants are then compensated for selling those same products to even more participants. Ultimately, the individual is not only responsible for his/her own performance – but also the performance of the other sales people they recruit.

At first glance, this type of structure may seem illegal because it resembles what is commonly referred to as a “pyramid scheme.” But multi-level marketing is a legal practice as long as it does not break the rules of Canada’s Competition Act. High-profile and profitable companies like Avon, Electrolux and Tupperware all use MLM methods legally and effectively.

Having said that, marketers can still find themselves unintentionally engaging in criminal conduct and breaking the rules.

So if you’re thinking about multi-level marketing as a way to boost your company or career, here is some legal advice that should be considered before getting involved.

1. Seek advice from the Competition Bureau

Before recruiting participants, submit a copy of your MLM plan to Canada’s competition bureau. Ask the bureau for a written review of your documents to see if you will be breaking any criminal codes. More information can be found at: . The RCMP’s website is also known to provide excellent guidance.

2. Review the concepts of pyramid selling

Pyramid selling is illegal in Canada so it is recommended that you familiarize yourself with the concepts of this scheme. Does your MLM plan require participants to pay money and/or entry costs to join your sales force? Is your product’s return policy considered fair? Does your MLM plan require participants to sell unreasonable or exorbitant amounts of product to other participants? Answer these questions honestly to help you determine if you are trapping yourself into a potential pyramid scheme.

3. Contact a lawyer who specializes in MLM

Getting in touch with a legal expert who is well-versed in MLM and direct sales is a great way to protect you from the tricky rules surrounding this field. An experienced lawyer can help you draft sales kits, look over distributor agreements and coach you on MLM policy and procedures.

Looking for a Business Lawyer in Austin, Texas?

Everyone is affected by legal systems in our society from obeying traffic laws to signing a legally binding contract. Thus, attorneys play a very important role in the community.

Most lawyers specialize in different areas like corporate business law, family law, criminal or civil law among many others. Because there are so many distinct specializations, it can be difficult to find the right lawyer for your legal needs. Depending on the issues or matters you are addressing, having a lawyer may be very important, but it is crucial to ask: “is this a lawyer with the appropriate expertise in the field of law that can best help me to achieve my goals?” Legal issues are complicated enough; you shouldn’t have to worry that your attorney is unfamiliar with the area of the law or unwilling to do the legwork necessary to become the expert that you need him or her to be. You need expert diligent attorney to ensure the best possible outcome for your case.

In Austin and throughout Texas there are number of talented Most corporate business lawyers austin tx ,business attorneys , and business formation lawyers.

When you face any legal matter, you will have many options when it comes to choosing a lawyer in Austin, but you have to find the best one that suits your individual goals, personality and budget. Your business lawyer should be professional, trustworthy, and personable. He or she should be enthusiastic about your goals and be willing to act as a sounding board and thought partner. It is also important to work with a lawyer who will take the time to listen to you and understand your business goals.

Most Business litigation lawyer in Austin tx offer a free phone call consultation that will allow you to assess initially whether the attorney might be a good fit for you before you schedule an in-office consultation or meeting. If you speak with an attorney and do not feel as though you will get individual attention that you want or need, you are probably better off working with someone else. Don’t leave your business legal matters in the hands of someone who doesn’t sound sincerely interested in your business, your needs and your goals. There are plenty of great attorneys in Austin and the surrounding areas, so make sure you choose the one that is right for you.