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FREE TRADE ZONES IN SHANGHAI
In China, Shanghai is the birthplace of Free-Trade Zones. On 22 August 2013, the establishment of the SFTZ was approved by the State Council. It officially started operations on 29 September 2013 with the support of Chinese Premier Li Keqiang, again, we’re talking about the first Free-Trade Zone in China. This zone consists of an area of 120.72 square kilometers and encompasses 4 existing linked areas in the district of Pudong — Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone. Starting 21 April 2015, Shanghai FTZ's complex was amplified, therefore taking Lujiazui Financial and Trade Zone, Shanghai Jinqiao Economic and Technological Development Zone and Zhangjiang Hi-Tech Park into its embrace. Nowadays Shanghai, Guangzhou, Shenzhen and Tianjin also have Free Trade Zones.
The Shanghai Free-Trade Zone (FTZ) has an area of 28.7 kilometers and helps many different kinds of companies to store, handle, manufacture, and export goods that are within certain kinds of customs regulations without having any kind of customs duty involved.
It’s really not important what kind of industry you work in; the Shanghai Free Trade Zone gives you the best chances to make huge earnings!
This trade zone is the first FTZ in China that has a model like the one in Hong Kong. The construction of this trade zone was a huge push to accommodate China to the new developments in international trade and development, and to set up a more active and open strategy. The authorization to expand the China (Shanghai) free trade test area to 120.72 square kilometers was approved by the Standing Committee of the National People's Congress in December 14th, 2014.
Setting up a Company in the Shanghai FTZ
Registration of a Company in the Shanghai Free Trade Zone
The objective of the Shanghai Free Trade Zone is to create and environment that can make rules to improve international investment and trade. It has an area that is free of tariffs which is mostly utilized to test different kinds of investments, trade, finance, administrative and legal changes.
The SFTZ and other FTZs can have their own special rules that can be expanded outside their jurisdiction. The Shanghai Free Trade Zone Company Formation has a negative list approach and also has a more efficient company registration process which translate to improved direct overseas investments.
The Zone Itself
Nowadays the Shanghai Free Trade Zone has 120 square kilometers and also contains 7 linked zones:
1. Waigaoqiao Free Trade Zone.
2. Waigaoqiao Free Trade Logistics Park.
3. Yangshan Free Trade Port Area: Consists of a deep water port, and it’s also the biggest component of the Shanghai Port.
4. Pudong Airport Comprehensive Free Trade Zone.
5. Lujiazui Finance and Trade Development Zone: A central for financial services.
6. Jinqiao Economic and Technological Development Zone: An area dedicated for high-tech manufacturing services.
7. Zhangjiang High-tech Industrial Development Zone: This area is dedicated to high-tech manufacturing and services related to the medical sector.
Companies Wholly Owned Overseas
Companies that are wholly owned overseas can be invested in by overseas investors and also be run without requiring local business partners or employees. This gives more control over the way the business is run, its revenue and sales targets. A WOFE is a great choice for individuals or international companies looking to get into the Chinese market.
Advantages of Shanghai Free Trade Zone
■ No Registered Capital needed
■ Virtual Address Provided
■ Fast Set-up
■ Fully Bonded Zone
■ No restriction Money Transfer
■ Best Zone for Export
■ VAT returned in 30 days
■ Registration takes only 20 days
■ Corporation China – Official Partner
Encouraged Industry Fields
■ Shipping Industry
■ Financial Service
■ Biological Medicine
■ Medical Apparatus
■ Commerce and Trade Service Industry
■ Professional Service Industry
■ Beverage & Liquor
■ Social Service Industry
■ Export Trading Industry
■ Media Industry
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Everything you need to easily start your company the right way.