SFBC 涉丰商务

1.外国人从世界各个角落来到中国大陆进行交易，这让中国成为热门的国际贸易地点。如今有了更多 的不同投资方式供企业主们选择，每种都有其独特的优势和潜在的缺陷、不同的设置程序、税法、法 律形式以及所需的投资资本。 China has become a hotbed for global business with foreign nationals hailing from all 4 corners of the world coming to the Mainland to ply their trade. These days there are a greater number of different investment vehicles for business owners to choose from, each with their own unique benefits and potential drawbacks, different set up procedures, taxation laws, legal forms and required capital investment. 2. 熟悉每一种投资方法的优缺点对于所有潜在企业主都是必要的。涉丰商务公司比较表意在教育新 到该地区的外国人了解该地区情况不同的平台，以便他们更好地了解哪种公司类型最适合他们独特的 业务需求和目标。 Familiarizing oneself with the pros and cons of each of these investment vehicles is a must for all potential business owners. The Comparison table of SFBC Company aims to educate foreigners new to the region about the different platforms so that they have a better idea of which type of company is best suited to their unique business needs and goals. 3.我们的表格比较了下列中国公司： 1. 外商在华独资企业 China WOFE 2. 香港公司 Hong Kong Company 3. 注册办公室 Representative Office 4. 前海开发区公司 QianHai Company 5. 合资公司（股权合资企业）Joint Venture （Equity JV） 6. 合资公司（合作企业） Joint Venture（Cooperative JV）

[Since March 1, 2014] No minimum registered capital is required for WFOEs with scope of business of consulting, trading, retailing, information technology in China. Minimum registered capital is still required for some industries such as Banking and Forwarding. [自 2014 年 3 月 1 日起]在中国从事咨询、贸易、零售、信息技术等业务的外商独资企 业不需要最低注册资本。一些行业仍然需要最低注册资本，例如银行和货运。Each local regulator has its own basic standards on what constitutes adequate capital for certain types of business activities. Avoid making these mistakes when considering the registered capital for your company so you are not under-funded: 每一个地方监管机构都有自己的基本标准，以确定哪些资本构成某些类型业务活动的 充足资本。在考虑公司注册资本时，避免犯以下错误，以免资金不足： 1-不要认为您的资产可以作为最低资本要求的出资 在未经适当授权的情况下将特定资产运到中国，并期望将这些资产用于最低资本，这将使 您陷入困境。运送前提前通知相关部门。 1- Do not assume your assets can be used as a contribution towards the minimum capital requirement Shipping certain assets over to China without proper authorization and expecting to use those assets towards minimum capital will land you in a spot of trouble. Notify the proper authorities well in advance before shipping. 2-不要认为，你用最低资本出资后，中国监管机构会认可你所说的资产价值 中国监管机构将要求他们自己对最低资本要求中除货币出资以外的任何事项进行评估。考 虑到这一点，以避免对您的资产价值造成损失。 2- Do not assume that the Chinese regulators will put the same value on assets in determining the contribution towards minimum capital The Chinese regulators will require their own appraisal of anything other than monetary contributions towards the minimum capital requirement. Make allowance for this to avoid incurring a loss on the value of your assets. 3-不要因为没有最低注册资本要求而认为降低注册资本可行 在注册一家中国外商独资企业时，最重要的一点是公司必须留出足够的注册资本，以支付 您的所有初始运营成本，这应基于您的预测和您公司从事的业务活动。如果不这样做，您 的公司将不得不从母公司注入更多资金，而中国将对这些资金作为你的收入进行征税。 为资本目的转移资金时，需要通过股东的海外账户进行。转让的目的需要明确规定为资本 或投资转让，可在 10 年内注入。这些资金通常可在一个工作日内兑换成人民币用于当地 办公费用或业务使用。 在从银行获得资本报告或存款收据，表明转移的资本金额后，最后一步是更新公司的营业 执照，以反映已存入的资本金额。 3-Do not assume that lower registered capital is the way to go because of no minimum registered capital required When registering a China WFOE it is of the utmost importance that your company DOES makes allowance for enough registered capital to cover all of your initial running costs. This should be based on your projections and the business activities your company engages in. Failing to do so will result in your company having to inject more money from the parent company that China will then tax you on as income. When transferring funds for capital purposes it needs to be done through the share holder’s overseas account. The purpose of the transfer needs to be clearly stipulated as a capital or investment transfer, and can be injected over a period of 10 years. The funds can be converted into RMB and used for local office expenses or business usage usually within one working day. After one has obtained a capital report or deposit receipt from the bank indicating the amount of capital transferred, the last step is to update the company’s business license to reflect how much capital one already deposited.

（*）-营业税（包括服务和咨询业务的营业税、贸易和制造业务的增值税等）、营业税的所得税（企业所得税、 个人所得税）：基于营业额，3-5%适用于服务型业务；增值税：以产品的增值部分为基础，适用于贸易和制造 业；企业所得税：根据毛利润计算，在全国范围内为 25%（自 2008 年 1 月 1 日起）除在经济特区实行税收优 惠的高新技术企业和中国中西部的鼓励性产业外（自 2009 年 1 月 1 日起）。其他税包括股息税：20%。对于上 市公司，自 2005 年 6 月 13 日起，股息税为：10%。 *)- Turnover tax (including Business tax for service and consulting business, VAT tax for trading and manufacturing business etc.), Income tax (corporate income tax, individual income tax) For Business tax: Based on turnover, it’s 3-5% applies to the service oriented business; VAT tax: based on Value added part of the products, applies to trading and manufacturing businesses; Corporate income tax: based on gross profit, it’s 25% nation wide (since Jan. 1st, 2008) except High technology businesses with tax incentives in special economic zones, and encouraged industries in middle-western China (starts from Jan. 1st, 2009). Other taxes include dividend tax: 20%. As for public listed company, the dividend tax is: 10% from June 13th, 2005.

代表处的税收过去收取 9%的费用。自 2010 年 3 月以来，根据广州、上海、北京、宁波和深圳地方税务局的新规定， 已将其改为约 13%。 高科技企业、集成电路企业、软件和集成电路企业自其第一个盈利年度起两年内免征企业所得税（CIT），并在随后 三年内减半征收。 技术转让可享受税收优惠。 节能节水设备的投资可以免税。从事节能、节水等环保项目的企业，前两年免征企业所得税，后三年减半征收企业 所得税。 新技术、产品和加工的研发投资可免税。 动画企业在经营的前两年免征企业所得税，随后三年按半价税率征税。 为了促进证券投资基金的发展和稳定，提供优惠政策 向合格外国机构投资者（QFII）提供优惠 CIT 政策。 向中小企业（SME）出资超过两年的风险投资（VC）企业有资格享受减税 其他税收优惠政策 前海还为企业提供特殊税收政策，如降低 CIT 和个人所得税（IIT）税率。这些税收优惠政策的详情见下文 Rep. office’s tax used be based on 9% on expenses. Since March 2010, it has been changed over to approx. 13% according to new regulation from local taxation bureaus in Guangzhou, Shanghai, Beijing, Ningbo and Shenzhen. Hi-tech enterprises, integrated circuit enterprises and software and IC enterprises are exempt from corporate income tax (CIT) for two years starting from their first profitable year and taxed at a half-rate for the following three years. Technology transfers are granted a preferential tax reduction. Investments in energy- and water-conservation equipment are tax deductible. Enterprises engaging in environmental protection projects such as energy- and water-conservation are exempt from CIT for the first two years and taxed at a half-rate for the following three years. R&D investments in new technologies, products and processing are tax deductible. Animation enterprises are exempt from CIT for the first two years of operations and taxed at a half-rate for the following three years. Preferential policies are provided to promote the development of securities and investment funds. Preferential CIT policies are provided to Qualified Foreign Institutional Investors (QFII). Venture Capital (VC) enterprises that make equity contributions to small and medium-sized enterprises (SMEs) for over two years are eligible for tax reductions. Other Preferential Tax Policies Qianhai also provides enterprises with special tax policies such as reduced CIT and individual income tax (IIT) rates. Details of these preferential tax policies can be seen below.

中国企业类型 外商在华独资企业 香港公司 注册办公室 受限且不独 1.操作灵活性 非常灵活和独立 非常灵活和独立 2.法律责任 以其全部认缴资本 有限责任 母公司承担 3.经营范围 为限 4.注册资本 外商独资企业只能 香港注册公司没有 活动范围仅 5.准备时间 从事公司章程规定 界定业务范围要求 行市场调查 6.税款 的业务活动。可以在 中国建立的三种主 质量控制 要类型的外商独资 企业是： 无最低注资要求 无需实收资 咨询外商独资企业 服务外商独资企业 2周 3周 贸易外商独资企业 对进入中国的外国 企业所得税：16.5%。 费用约为 1 公司的最低注资不 再有要求（+） 无股息税 个人所得税 2 个月 流转税；所得税、股 息税（*）

室 前海开发区公司 合资公司（股权合 合资公司（合作企业） 独立 资企业） 外商在华独资企 非常灵活和独立 非常灵活和独立 担 业，合资公司（股权 仅限于进 合资企业或合作企 有限责任 中外合资企业可以以 查、执行 业）和注册办公室 有限和无限两种形式 可以在此设立 股权合资企业只能 注册 取决于注册公司的 从事公司章程中规 合作企业只能从事公 类型 定的业务活动 司章程中规定的业务 活动 取决于注册公司的 类型 资本 取决于注册公司的 外国合伙人的投资 注册资本为必需 类型 不得低于新实体注 10-15%； 册资本的 25% 3 个月 税（“） 2-3 月 3 个月 流转税；所得税、股息 特定行业的税收优 流转税；所得税、股 税（*） 惠政策（#） 息税（*）

7.会计维护 每月；每季度；每年 年度执照更新；年度 每月；每季度 8.维持费用 审计 高 9.优点 1） 帮助您 中低 建立业务 2） 在客户 1） 以您认为合适的 1）在香港成立的公 能增强品牌 3） 能够与 方式在中国运营 司能更便捷地与中 系人分享技 法 2） 可以作为正常公 国和东南亚进行贸 4） 更便利 本地市场调 司进行交易 易 5） 协调外 司在中国的 3） 以人民币为收 2） 公司税和个人税 活动，包括市 销等 款，单位开具发票 少 6） 更轻松 与当地联系 4） 能够将利润以美 3） 公司能简单快速 元转移至中国境外 成立 的母公司。 4) 简单的纳税和财 5） 能够雇佣低成本 务要求 的本地劳动力，并决 5） 类似西方的法律 定雇佣谁以及何时 系统 雇佣。 6） 高效成熟的商业 6） 能保护知识产权 银行业务 7） 所有利润全部归 7） 资本和信息的无 外商独资企业所有。 限制流动 8） 营业执照有效期 8） 世界一流的基础 为 15-30 年 设施和通讯设施 9） 所需投资少 10）不需要住在香港 11） 允许使用虚拟 办公室地址

度；每年 每月；每季度；每年 每月；每季度；每年 每月；每季度；每年 高高 中 您在中国 1） 超低企业所得 1） 在该地区获得 1）在该地区获得更多 户所在地 税（CIT）15%，至 更多内幕知识和专 内幕知识和专业技能 牌建设度 与当地联 2020 年 12 月 业技能 2）简化复杂的官僚程 技术和想 2） “绿色环保”公司 2） 简 化 复 杂 的 官 序 利地进行 调查的 享受 CIT 税收优惠 僚程序 3）更好的机会以进入 外国母公 的“实地” 3） 中小企业可以 3） 更好的机会以 庞大的市场和现有的 市场、分 获得企业所得税减 进入庞大的市场和 分销网络 松有效地 免 现有的分销网络 4）与合作伙伴分担风 系人联络 4）企业收入的 30% 4） 与合作伙伴分 险和费用 可以来自非优惠商 担风险和费用 5）更多地获得当地资 业活动 5） 更多地获得当 源和廉价劳动力 5） 外国高端人才， 地资源和廉价劳动 6） 巩固公司地位，赢 即熟练的外国工 力 得更多市场份额 人，如果所得税等 6） 巩固公司地位， 7）继续保持在世界空 于其收入的 15%或 赢得更多市场份额 间的竞争力 以上，可以通过补 7） 继续保持在世 8）在公司核心业务之 贴享受个人所得税 界空间的竞争力 外开拓新的商业机会 减免 8） 在公司核心业 6） 改革了纳税申 务之外开拓新的商 报制度，使企业在 业机会 中国更容易、更快 地办理税务 7）紧邻香港和珠江

10.缺点 1） 冗长/昂贵的登 1） 必须到香港开立 1） 不得从 记程序 公司银行账户 能带来利润 2） 业务范围的扩大 2） 由于客户对香港 2） 不得为 需要申请和批准 银行的服务需求量 完成交易并 很大，因此香港银行 务合同 可能会挑选客户 3） 不得代 3） 香港公司的至少 公司 一名董事必须是自 4） 不得在 然人 买房产 5） 不得向 口设备

从事任何 三角洲的主要城市 1） 合作伙伴之间 1）合作伙伴之间的错 润的业务 8）可以从香港银行 的错误沟通可能会 误沟通可能会导致成 为母公司 获得人民币贷款， 导致成本高昂的业 本高昂的业务决策 并签署业 但享受香港贷款利 务决策 2）必须与合伙人分担 率 2） 必须与合伙人 所有风险和费用 代表其他 9） 数十亿元政府 分担所有风险和费 3）冲突的管理风格可 补助急需产业 用 能导致公司内部的差 在中国购 10）很容易进入香 3） 冲突的管理风 异 港和海外银行，其 格可能导致公司内 4）资源管理不善将导 向中国进 中许多人选择前海 部的差异 致更高的支出和浪费 作为当地总部。 4） 资源管理不善 5）每个合伙人给合资 11） 世界级物流 12） 青年企业家创 新中心提供补贴公 司启动成本 1） 不适用于非服 务相关行业。这些 企业不享受相同的 税收减免 2） 前海是一个非 常新的开发区，它 有中国特有的规 则，法律和程序。外 国企业可能很难遵 循这些 3） 为了利用投资

6） 不得向 地发票

向开具本 机会，业主需要中 将导致更高的支出 企业带来的资源可能 国本地人的建议， 和浪费 会出现不平衡 他们确切地知道有 5） 每个合伙人给 6）文化差异可能导致 哪些投资机会。语 合资企业带来的资 合作伙伴之间的对抗 言技能成为必备技 源可能会出现不平 和争吵 能 衡

China WFOE (Wholly HK Company RO companies Foreign Owned (Registered 1.Operation flexibility Enterprise) Very flexible and Very flexible and Restricted independent independent dependent 2.Legal Limited to the Limited liability Fall on the liability extent of its whole company subscribed capital 3.Scope of business WFOEs can only No requirement for Scope of a in an R engage in business Hong Kong limited conducting activities defined in registered research, performing the Articles of companies to define control Association. The their business scope three main types of WFOEs that one can establish in China are: Consulting WFOE Service WFOE Trading WFOE

QianHai Zone Joint Venture Equity Joint Venture d Office) Company JV Cooperative JV and WFOE, Joint Very flexible and Very flexible and independent independent e parent Venture (Equity or Limited liability CJVs can be registered activities Cooperative) and a in both RO are Representative Offi Equity JVs can only limited and unlimited engage in business forms to ce can be set up in activities defined in Cooperative JVs can g market the Articles of only engage in g quality this special zone Association business activities defined in the Articles Depends on the of Association type of company registered Depends on the type of company registered

4.Registered Minimum capital No restriction on No paid-up capital require injections for the minimum or 5.Set up time 3 weeks 6.Taxation foreign companies maximum of approx. 10- expenses; 7.Accounting entering China are registered capital individual maintenance tax (“) 8.Maintenance no longer a Monthly; Cost Quarterly; A 9.Advantages requirement (+) High 2 months 2 weeks Corporate income Turnover tax; tax: 16.5%. No dividend tax Income tax, Dividend tax (*) Monthly; Quarterly; Annual license Annually renewal; Annual audit Mid Low 1)Independence to 1)A presence in 1)Helps establish operate in China the Hong Kong, presence in 2)Enhanced way you see fit gateway to China brand-build capabilities 2)The ability to and SE Asia being whe customers a trade as a normal 2)Access to low 3)Ability to technology company corporate and 3)Invoicing in individual taxes reception of 3)Easy and fast revenue in corporation CNY 4)Simple tax and

p capital Depends on the Foreign partner Registered capital is type of company must invest no less required registered than 25% of the registered capital of the new entity 2-3 months 3 months 3 months Preferential tax Turnover tax; Income -15% on policies for select Turnover tax; tax, Dividend tax (*) income industries (#) Income tax, Dividend tax (*) Monthly; Quarterly; Monthly; Quarterly; Monthly; Quarterly; Annually Annually Annually Annually High High Mid one 1)Ultra low 1)Gain more insider 1)Gain more insider a knowledge and knowledge and corporate expertise in the expertise in the region n China region 2)Simpler handling of d income tax (CIT) of 2)Simpler handling complicated ding of complicated bureaucratic 15% until bureaucratic procedures by procedures 3)Greater access to a ere the December 2020 3)Greater access to massive market and are a massive market any existing o share 2) ‘ Green ’ y and companies rewarded with CIT tax breaks 3)VC SMEs eligible

4)Ability to transfer accounting ideas with profits in USD to the contacts parent company requirements 4)Ease outside of China. conducting 5)Ability to hire low 5) ‘ Western ’ legal market rese cost local labour 5)Coordina and decide who to system foreign pare hire and company when. 6)Efficient client and activities ‘ 6)Ability to protect ground ’ in intellectual property mature be they 7)All profits belong distribution solely to the WFOE. business banking 6)Liaise wit 8)Business license is contacts valid for 15-30 7)Unrestricted fl ow easily years. and efficien of capital and information 8)World class infrastructure and communication facilities 9)Low investment required 10)No need to live in Hong Kong 11)Virtual office addresses are permitted.

h local for CIT tax and distribution networks any existing of breaks distribution 4)Sharing of all of the g local networks earch 4)Businesses may 4)Sharing of all of risks and expenses ate the the account for 30% of risks and expenses with a partner ent with a partner ’s their income from 5)Greater access to 5)Greater access to local resources and on the none-preferential cheaper labour local resources and n China, 6)Strengthen a business company's position cheaper labour market, and win even more n, etc activities market share 6)Strengthen a th local 7)Continue to stay 5)Foreign high-end competitive in the company's position more world space talent, skilled 8)Open up new and win even more ntly. business foreign workers, opportunities market share outside of a may company's 7)Continue to stay core business be eligible for competitive in the individual income world space tax reductions by 8)Open up new subsidy if the business income tax equals opportunities outside 15% or more of of a company's their total taxable core business income 6)Reformed tax declaration, making it easier and faster for companies to handle their

taxes in China 7)Close proximity to Hong Kong and the main cities of the PRD 8)Can get loans from Hong Kong banks in CNY, but with Hong Kong loan rates 9)Billions of CNY in government grants for preferred industries 10)Easy access to Hong Kong and overseas banks, many of whom choose QianHai as their local HQ 11)World class logistics 12)Youth entrepreneur

10.Disadvantag 1)Lengthy/costly 1)Must go to HK to 1)May no es open a corporate business o registration bank account kind which 2)HK banks may be in profit procedure selective with 2)May not f customers due to deals and 2)Expansion of high demand for business co their services for the business scope 3)At least one of the company directors of a HK 3)May requires application company has to be represent a natural person other comp and approval 4)May not b property in 5)May not i equipment China 6)May not local

innovation hub off ering subsidized company start up costs ot do 1)Not suitable for 1)Miscommunicatio 1)Miscommunication of any n between partners between partners may h results non-service related may result in costly result in costly business business decisions finalize industries. These decisions d sign 2)Have to share all 2)Have to share all the ontracts businesses do not the risks and risks and expenses expenses with one's with one's parent enjoy the same tax partner partner 3)Conflicting 3)Conflicting not breaks management styles management may lead to styles may lead to panies 2)QianHai is a very disparity within disparity within the buy the company company China new development 4)Mismanagement 4)Mismanagement of import of resources will resources will lead to and it has rules, lead to higher higher expenditure into expenditure and and waste laws, and processes waste 5)An imbalance may invoice 5)An imbalance occur in what each which are unique in may occur in what partner brings to each partner can the joint venture China. Foreign businesses may fi nd these hard to follow 3)In order to take advantage of investment opportunities, owners will need local advice from Chinese individuals

who know exactly bring to the 6)Cultural differences what these are company. may lead to . Skill in the confrontation language between partners and becomes a must a falling out

CIT 优惠政策 根据财政部发布的《财政部公告（2014 年第 26 号）》，从 2014 年 1 月 1 日起至 2020 年 12 月 31 日，对从事《税收优 惠政策目录》鼓励类业务的企业减按 15%的企业所得税税率征收企业所得税。 该目录主要包括四个工业部门，即技术服务业、现代物流业、文化创意产业和信息服务业。企业享受优惠税率必须具 备下列条件： 企业必须从事优惠目录中列为合格的经营活动； 这些经营活动的收入应占企业总收入的 70%以上,而这一部分的收入仅能包括公司主要经营范围内的收入； 如果一家公司在区域内外都有分支机构或代表处（RO），则降低的 15%的 CIT 费率仅适用于位于区域内的分支机构和 RO。 还应该指出的是，如果企业既有资格享受《目录》中规定的 15%的企业所得税税率，又有资格享受《企业所得税法》 规定的其他优惠待遇，那么它们可以同时享受多项这类福利。此外，“半税率征税”政策仅适用于 25%的 CIT 税率。 Preferential CIT Policies According to “Announcement No.26 of the year 2014” released by the Ministry of Finance (MOF), enterprises engaging in the types of businesses encouraged in the “Catalog for Preferential Tax Policies List” will be taxed at a reduced CIT rate of 15 percent starting on January 1, 2014 until December 31, 2020. The Catalog mainly includes four industrial sectors, namely technology services, modern logistics, the cultural and creative industry and information services. The following conditions must be met for enterprises to enjoy the preferential rate: The enterprise must be engaged in business activities categorized as eligible in the Preferential Catalog; The income of these business activities should account for more than 70 percent of the enterprises’ total income, which itself can only include income from the company’s primary business activities; In the case that a company has branches or representative offices (RO) both inside and outside the zone, the reduced 15 percent CIT rate shall only apply to the branches and ROs located within the zone. It should also be noted that if enterprises are eligible for both the CIT rate of 15 percent as stated in the Catalog as well as other preferential treatments in accordance with CIT law, they can simultaneously enjoy multiple such benefits. Also, the “taxed at a half-rate” policy only applies based on a 25 percent CIT rate. .

个人所得税优惠政策 根据《关于对前海区外籍高端人才和紧缺人才个人所得税给予财政补贴的通知》（深服[2012]143 号），“从事前海区鼓 励类产业的外籍高端人才有资格享受个人所得税减免。如果外国人才在其工资上支付的个人所得税收入超过其应税 工资收入总额的 15%，深圳市政府将提供财政补贴。 Preferential IIT Policies According to the “Circular on Financial Subsidies for Individual Income Tax on Foreign High-end Talent and Talent in Short Supply in the Qianhai Zone (Shen Fu [2012] No.143),” foreign high-end talent engaged in encouraged industries in the Qianhai Zone are eligible for IIT reductions. Financial Subsidies will be provided by the Shenzhen municipal government if the amount of IIT income paid by the foreign talent on his/her salary exceeds 15 percent of his/her total taxable salary income. 企业税优惠政策 自 2014 年 8 月 1 日起，在深圳前海设立的保理服务企业被纳入优惠营业税（BT）计划。保理企业的利息收入，按照 取得的利息与支付给金融机构（如银行）的利息之间的差额征税。保理取得的其他所得，应当全额纳税。 Preferential BT Policies Starting on August 1, 2014, factoring service enterprises established in Qianhai, Shenzhen are included in a preferential business tax (BT) program. A factoring enterprise’s income generated through interest shall be taxed based on the difference between the obtained interest and the interest paid to financial institutions (such as banks). Other income gained from factoring shall be taxed on the full amount. 印花税优惠政策 企业集团内各公司之间签订的外包活动合同视为代理委任合同，免征印花税。 此外，该区的纳税申报程序已大大简化，纳税人只需在 10 分钟内完成纳税申报。 我们相信，您会认为这份中国公司的对比表非常有用，而且我们将非常乐意为您提供更多的关于每种公司的资讯资 源！ Preferential Stamp-tax Policies Contracts signed for outsourcing activities between companies within a corporate group are regarded as agency appointment contracts and shall be exempt from stamp-tax. Furthermore, tax declaration procedures have been substantially simplified in the zone, enabling taxpayers to complete their tax declarations within only 10 minutes. We trust that you found this China company comparison useful and we’d like to provide you with even more resources on each of them!