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Deregistration of a FICE in Beijing - Procedures and Fees

Fees and Procedures for Deregistration of a FICE in Beijing


Unless otherwise indicated, the FICE 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 FICE registered in Beijing intends to liquidate and deregister its legal body and that no special licence or permit is involved.

Our fees for handling the deregistration for a FICE in Beijing, China are RMB30,000 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 filing charges.

The materials required include all the certificates and seals of the FICE and others. A list of the materials is detailed in Section 3 of the quotation.

The whole process for the deregistration of a FICE in Beijing, China takes around 6 to 8 months. 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, due to the limitation of the FICE’s principal business activities, the deregistration requires to deregister special licence or permit, we may need to adjust our fees and the time required may need to be extended accordingly.


1.        Deregistration Cost

(1)       Our Service Fees

Our fees for handling the deregistration of a FICE in Beijing, China are RMB30,000. In particular, our fees cover the following services:

(1) Preparation of deregistration application documents;
(2) Filing liquidation group record with the registration authorities;
(3) Arranging liquidation announcement;
(4) Application for deregistration with Commission of Commerce;
(5) Application for tax clearance and deregistration with tax bureau;
(6) Application for deregistration of foreign direct investment registration;
(7) Application for deregistration with BAMR;
(8) Application for deregistration of the foreign trade operator registration;
(9) Application for cancelling customs and inspection and quarantine registration;
(10) Application for cancelling the foreign exchange registration for trading;
(11) Remitting out the remaining funds to the FICE’s shareholder;
(12) Application for closing capital account;
(13) Application for closing RMB basic account

If, due to the limitation of the FICE’s principal business activities, the deregistration requires to deregister special licence or permit, we may need to adjust our fees accordingly.

(2)       Official Filing Fees

Our service fees stated in Section 1 (1) do not cover any official filing fees. The estimated official filing fees shall be around RMB1,500. The official filing fees will be billed with supporting official receipts.

(3)       Audit Costs

Our service fees stated in Section 1 (1) do not include the liquidation audit fees. A set of liquidation audit report is required for the deregistration of foreign direct investment registration. We could assist to arrange the issuance of audit report and our fees shall be quoted based on the assets and volume of transactions of the FICE.  

 (4)     Tax Filing Costs

During the liquidation and tax clearance period, the WFOE shall file tax return in due course until the tax deregistration is officially approved by the competent tax bureaus. Our service fee for monthly tax filing is RMB500. Under current practice, after the deregistration decision is made by the shareholder of the WFOE, it shall take at least an extra six months to prepare the deregistration documents and complete the tax deregistration procedures. For this reason, we will charge six-month’s tax filing fees (in total: RMB3,000). Any shortfall will be billed after completion of deregistration of the WFOE.



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 before commencement of work.

If China official tax invoice is required, a Value Added Tax and Surcharges of 7.5% will be charged.


3.         Required Documents and Materials

The following materials are required for the purpose of the deregistration for a FICE in Beijing, China:

(1) Business License (original & duplicate);
(2) Bank Account Opening Permit;
(3) Organizational Credit Code Certificate;
(4) Other bank stuffs;
(5) Foreign exchange registration voucher;
(6) Company seal;
(7) Personal seal of legal representative;
(8) Financial seal;
(9) Original office lease agreements;
(10) Accounting books for the latest three years;
(11) Tax returns for the latest three years;
(12) Customs Registration Certificate;
(13) Foreign Trade Operator Registration Form;
(14) Inspection and Quarantine Registration Form;
(15) E-port IC Cards;
(16) Other materials temporarily required by the registration authorities.


4.        Estimated Time Frame

Provided that the procedures go smoothly, the whole deregistration process would take around 6 to 8 months, which subject to the final approval of the various approval authorities involved in Beijing.

Step


Description


Who is Responsible


Working Days


Preliminary


1


Preparation of deregistration required documents


Investor


Investor’s schedule


2


Preparation of deregistration application documents


Kaizen


5-7


Application for Deregistration


3


Filing liquidation group record with the registration authorities


Kaizen


5-7


4


Arranging liquidation announcement


Kaizen


1


5


Application for deregistration with Commission of Commerce


Kaizen


3


6


Application for tax clearance and deregistration with tax bureau


Kaizen


3-4 months


7


Application for deregistration of foreign direct investment registration


Kaizen


7-10


8


Application for deregistration with BAMR


Kaizen


5-7


9


Application for deregistration of the foreign trade operator registration


Kaizen


5-7


10


Application for cancelling customs and inspection and quarantine registration


Kaizen


7-10


11


Application for cancelling the foreign exchange registration for trading


Kaizen


7-10


12


Remitting out the remaining funds to the WFOE’s shareholder


Kaizen


7-10


13


Application for closing capital account


Kaizen


5-7


14


Application for closing RMB basic account


Kaizen


7-10


Around 6-8 Months



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:


Skype: kaizencpa



Schedule 1 - Summary of Costs for Deregistration of FICE in Beijing



A summary of costs related to the deregistration of a FICE in Beijing, China are listed in the table below:



Item


Description


Amount


(RMB)


1


Service fees for company deregistration (Note 1)


30,000 up


2


Official filing fees for company deregistration (Note 2)


1,500


3


Disbursements


500


4


Tax filing service fee for six months (Optional)


3,000


5


Audit costs (Optional)


TBA


6


Translation service (Optional)


TBA


Total


35,000 up





Note:


1.      If, due to the limitation of the FICE’s principal business activities, the deregistration requires to deregister special licence or permit, we may need to adjust our fees accordingly.


2.      The government fees are an estimated amount. We will collect it before the commencement of services and any shortfall will be billed after completion of deregistration of the FICE.


3.      Item 4-6 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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