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Free Trade port Company Registration in Hainan, China

Last Updated: April 17, 2021

 

"Master Plan for the Construction of Hainan Free Trade Port" was announced on June 1, 2020
This free trade port doesn't like any other Free trade zones in China. Chinese Central government is quite ambitious to build the island. The island is now like Chinese version of Florida in US and it's more than that with much more ambitions.

First of all, Hainan is the only tropical zone island in China.
The size of Hainan is about 40 times of the size of Singapore and 1/10 of Malaysia. The direct flight from Penang to Sanya (the vacation heaven in Hainan) is about 2 hours 40 minutes

Hainan is going to be an investment hub: Free trade, free duty, visa free, (it's not easy to get a visa to China and now Hianan will be a visa free island to foreign visitors), open sky to overseas airline companies, massive tax incentives (15%) etc for qualified hi-tech, modern service industry and travel industry, low individual income tax (15%) etc.

With the new law, the whole province is now becoming a free trade port, a largest free trade port in China.

The island is not become a free trade port overnight, the master plan was introduced 2 years ago. April 13, 2018, Chinese President Xi Jinping solemnly announced at the celebration of the 30th anniversary of the establishment of a special economic zone in Hainan Province that the Party Central Committee decided to support Hainan Island to build a free trade port and support Hainan to gradually explore and steadily advance. In the construction of a free trade port with Chinese characteristics, a free trade port policy and system will be established in stages and phases. This will be China's first free trade port.

There are advantages for Hainan Free Trade Port：

1. Free trade port, more advanced open form

The free trade port is a standard form of international cooperation. The " inside the territory while outside the customs" practice free flow, including the free flow of goods and funds. Similar to Singapore and Hong Kong, China, is a more advanced form of openness. At present, Hainan is exploring the construction of a free trade port.

2. Central government's strong policy support for Hainan Free Trade Port

In order to implement the national strategy for Hainan Free Trade Port construction, the Hainan Provincial Party Committee and the Provincial Government decided to establish the Haikou Jiangdong New District as a centralized exhibition area for the construction of the China (Hainan) Free Trade Port. In addition, Sanya will become an innovative financial hub in the Hainan Free Trade Zone. Operational activities that are restricted to foreign-funded enterprises are more open on this side, such as finance. The 100-day investment promotion activity in Hainan attracted many enterprises to indicate their presence in Hainan. PricewaterhouseCoopers(PWC), as the world's leading professional services organization and the largest accounting firm, is the first international professional service agency to settle in Hainan.

 3. Tourism Industry Advantage

Tourism is the first of the 12 key industries in Hainan Province. Hainan encourages the establishment of Sino-foreign joint venture travel agencies, strives for relevant policy support, relaxes market access restrictions, and introduces high-quality resources to help the healthy development of tourism. In addition, individuals or teams from 59 countries and regions can travel and enter Hainan without a visa.

 4. Geographical advantage

Hainan has currently opened 44 international air routes and 370 domestic ones. It can reach Vietnam, Hong Kong, Macau, and the Pearl River Delta region in 1 hour, and can reach the Philippines, Brunei, Thailand, Myanmar, Laos, Cambodia, and China in 2 hours. In the triangle area, it can reach Singapore, Malaysia, Indonesia, India, South Korea, Japan, and the Bohai Rim area within 3 hours. Major commercial cities in Southeast Asia are within a 4-5 hour voyage with convenient transportation and excellent geographical location.

5. Less time to finish the company registration

It will take approx. 1 month to register a Consulting Free-Trade Port company in Hainan. While for a Trading Free-Trade Zone company, it takes 1.5 months.

 

. Information provided below will guide you to:

Documents Required & Registration Procedures of Shanghai Free-Trade zone company

Condition(s):

Our suggested minimum registered capital for consulting WFOE, Service WFOE, IT WFOE: USD$ 50,000 or Euro 35,000. (The capital doesn't nessesary to be deposited in the bank account)

 

Below is the required documentation for Hainani Free-Trade Zone company formation. (Item 1,2,7,8 should be prepared before visiting China:

CHECKLIST:

Documents required

The above documents are good enough to register a Trading, Service & Consulting Free Trade Port company in Hainan . For the establishment of a manufacturing free-trade port company, overseas investor will also need to provide:

Registration Procedures

Foreign investors are not permitted to directly submit the application documents of incorporate a Free-Trade Port company to the relevant authority in Hainan. They must retain a Chinese entity that is authorized or permitted by relevant authorities to act as a sponsor. The sponsor will submit all the documents to the examination and approval authorities on behalf of the foreign investor. Procedures for setting up a Free-Trade zone company are the following:

More information about Free-Trade Zone WFOE:

Contact Our Regional Partners in India (Mumbai, Delhi), Singapore, Malaysia (Kuala Lumpur), China (Beijing, Shenzhen, Guangzhou, Shanghai, Suzhou, Ningbo, Hangzhou or Hong Kong) for more details:

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