We provide full support to foreign investors seeking to establish a presence in the Chinese market. Our services cover every step of the process, starting with strategic guidance on the most suitable company structure for your business. We handle the preparation, drafting, and submission of all required incorporation documents, ensuring a seamless registration process.

Once your Chinese subsidiary is established, we assist with setting up corporate bank accounts, completing tax registrations, and securing necessary permits, such as customs licenses or industry-specific approvals, including F&B licenses. Our goal is to simplify the complex regulatory landscape in China, allowing your business to operate smoothly from day one.

Tax and accounting with CTCI

Maintaining an independent tax and accounting service is an expensive option for any company, especially a smaller one, and many WFOEs and rep offices choose to outsource this to an experienced accountant services firm.

We provide a full range of accounting and tax services in China, as well as audit services. We can adapt our offering to suit the assistance you need. We can operate a fully outsourced accounting, tax and audit solution for you, or can just handle parts of this in collaboration with your internal functions.

Areas we can assist include the following:

Set up of initial      accounting system and methodology for WFOE or rep office

Monthly preparation of      company books in line with Chinese accounting standards

Monthly and annual      preparation for tax filing with Chinese tax authorities

Preparing filing for      Business tax, Individual Income tax and Corporate tax

Annual audit of financial      statements

Consideration of      appropriate double taxation treaties

Chinese Accounting Standards

The Chinese accounting system follows the Chinese Generally Accepted Accounting Principles (GAAP) framework, also known as Chinese Accounting Standards (CAS). These standards have evolved over time and are now quite in line with the globally recognized International Financial Reporting Standards (IFRS) and also US GAAP. There are however enough differences to present challenges.

The benefits of outsourcing tax

There are several advantages to outsourcing tax and accounting services:

• The complex areas of Chinese accounting standards and tax reporting are entrusted to a company which deeply understand them.

• Less internal company time taken up on administration and reporting, resources are free to focus on real business tasks.

• Our accountants are always up to date with rules and regulations, and are well informed of current or future changes.

• Regular and accurate submissions to Chinese authorities are very important. There can be strict penalties for late or incorrect submission.

• We can advise on tax structures and planning, which can drastically reduce your taxes.