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Change of Person in Charge for WFOE Beijing Branch - Procedures and Fees

Fees and Procedures for Change of Person in Charge for WFOE Beijing Branch

Unless otherwise indicated, the WFOE mentioned in this quotation refer to a limited liability company formed and registered in Beijing, China in accordance with the China Company Law and the related regulations and wholly owned by one or more foreign companies or individuals.

Summary

The quotation applies to situations where a WFOE’s Beijing branch intends to change its person in charge and that no special licence or permit or other change is required.

Our fees for handling the change of person in charge for WFOE’s Beijing branch are RMB8,000 and our fees cover the services listed in Section 1(1) of this quotation. Our service fees, however, do not include the payment of official change filing charges.

The materials required include the identity documents of the new person in charge, incorporation certificates of the branch and others. A list of the materials is detailed in Section 3 of the quotation.

The whole process for the change of person in charge for a WFOE’s Beijing branch takes around 3 to 4 weeks. It should however be noted that most of the procedures are subject to approval granted by the government departments and therefore some of the procedures may take longer than expected.

If special licence or permit or other extra change is required, we may need to adjust our fees and the time required may need to be extended accordingly.

1. Change Cost

(1)
Our Service Fees


Our fees for handling the change of person in charge for WFOE’s Beijing branch is RMB8,000. In particular, our fees cover the following services:

(1) Preparation of change application documents;
(2) Application for change of person in charge with BAMR;
(3) Carving of personal chop of the new person in charge;
(4) Applying for the change of person in charge with Tax Bureau;
(5) Applying for change of person in charge with bank (RMB basic account)

If special licence or permit or other extra change is required, we may need to adjust our fees accordingly.


(2)
Official Filing Fees


The fees quoted in Section 1 (1) above do not cover official filing fees to be paid to different government departments and the official filing fees are estimated to be around RMB1,500, assuming no special license or permit is required.


(3)
Internet Banking Facility


Our service fees stated in Section 1 (1) do not include the service for application of internet banking facility for the new person in charge. Should you decide to engage us for the above service, we will charge a fee of RMB2,000.


(4)
Translation Costs


Our service fees stated in Section 1 (1) do not cover translation costs for translating the documents prepared by you from English to Chinese or translation of registration documents from Chinese to English. If so required, we will charge an extra amount of RMB300 per page of A4 size paper for the translation services. In case the translation is done by client directly, we will charge RMB60-180 per page of A4 size paper as proof reading service fees.


A summary of the fees and costs is provided in Schedule 1 to the quotation.

2.
Payment Terms and Methods

Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.

If China or Taiwan official tax invoice is required, Value-Added Tax or Business Tax at the prevailing rate in the respective jurisdiction will be charged.

3. Required Documents and Materials

The following materials are required for the purpose of change of person in charge for WFOE’s Beijing branch:

(1)
Identity documents of the new person in charge;

(2)
Residential address of the new person in charge;

(3)
Mobile phone number of the new person in charge;

(4)
Business Licenses (original and duplicates);

(5)
Bank Account Opening Permit;

(6)
Organizational Credit Code Certificate;

(7)
Company Seal of the Beijing branch;

(8)
Other documents or information temporarily required by registration authorities.

4. Estimated Time Frame

It is estimated that the whole change process would take around 3 to 4 weeks, subject to the approval by the various registration authorities in Beijing. The table below shows the estimated time frame for each of the steps for the change.
Step
Description
Who is Responsible
Working Days
Preliminary
1 Preparation of new person in charge’s personal documents and materials Investor
Investor’s schedule
2 Preparation of  the branch’s certificates and licenses Investor
Investor’s schedule
3 Other documents
Investor
Investor’s schedule
Application for Change
4 Application for change of person in charge with BAMR Kaizen
5-7
5 Carving of personal chop of the new person in charge Kaizen
1
6 Applying for the change of person in charge with Tax Bureau Kaizen
3
7 Applying for change of person in charge with bank Kaizen
7-10
Around 3-4 Weeks

5. How to Start

(1)
We will sign an engagement letter with you;

(2)
You pay the service fees to us;

(3)
You provide the required materials to us;

(4)
We prepare the application forms and relevant documents after receipt of required documents;

(5)
We deliver the documents to you for signing;

(6)
You return the duly signed documents to us;

(7)
We submit the documents to relevant government authorities concerned application and change of various certificates as stated in Section 4;

(8)
The whole procedures are completed and certificates are forwarded to you.

If you wish to obtain more information or assistance, please visit the official website of Kaizen CPA Limited at www.kaizencpa.com or contact us through the following and talk to our professionals:
Email: info@kaizencpa.com, enquiries@kaizencpa.com
Tel: +852 2341 1444
WhatsApp/Line/Wechat: +852 6114 9414, +86 152 1943 4614
Skype: kaizencpa


Schedule 1 ?Summary of Costs for Change of Person in Charge for WFOE’s BJ Branch


A summary of costs related to the change of person in charge for WFOE’s Beijing branch with no requirements of special license in Beijing, China are listed in the table below:
Item
Description
Amount (RMB)
1 Service fees for change of person in charge for WFOE’s Beijing branch (Note 1) 8,000
2 Official filing fees (Note 2)
1,500
3 Disbursements
500
4 Service fee internet banking facility application (Optional)
2,000
5 Translation Fees
TBA
TOTAL
12,000

Note:
1. If special licence or permit needs to be updated due to the change, Kaizen will handle the application and our fees will be quoted upon request.
2. The government fees are estimated on the premises that no speical license or permit is required. We will collect it before the commencement of services and any shortfall will be billed after completion of the change.
3. Item 4 to 5 will only be incurred if we are being engaged for such services.
4. If Chinese tax invoice is required, a Value Added Tax and Surcharges of 5% would be applicable.

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