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Things to Consider Before Setting up a Company
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In my opinion, no matter what kind of business plan you may have, the first thing you need to do is some homework to understand what is needed to set up a company in China. We actually have explained some concepts in our previous articles, such as What’s a Legal Representative? or More about registered capital (part 2) , let’s talk more.1. Choose the right company nameThe first thing you need to do is to figure out the company name. In China, a typical company name consists of company name, main industry, entity type and the city name. For example, “Guangzhou highland trade limited liability company”. Guangzhou is the city where the company is located, trade is the main business of the company, limited liability company is the entity type, highland is the name chosen by the shareholders. Or you can say, “Highland (Guangzhou) trade limited liability company”, put the city name behind the company name. However, once you choose the format of the company name, you can’t change it unless approved by the relevant authority.In the above mentioned company name, Highland is the only part that can be decided by the shareholder. This part of the company name has to be unique and can’t be identical or similar to any existing name in the same city and industry. So we usually suggest that our clients prepare at least three names in advance.
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