Starting a Business in China: Part 2

Starting a Business in China: Part 2

China is one of the fastest growing economies in the world.  Primasia is the partner you need to assist with setting up and growing your business in Hong Kong and China. Hong Kong is known as “the gateway to China”, and the growing consumer economy in China is making companies of every size look Eastward for their share of the growing market-- and to increase profit margins. To best navigate the complexities of Chinese legislation and business practices, you need a partner with the knowledge and expertise to help you set up a foothold in the region.  We are backed by years of experience, as well as a knowledgeable and competent team of professionals that can get you on the right track without wasting your investment or time.

Below we’ll share a few elements you need to be aware of before you start a business or expand your business in China.

1. Location

China is huge!  The landmass and population size is simply staggering. As with anywhere you decide to set up a business, location is everything-- so research regarding locations is vital for success. Primasia’s team of experts is available to advise you about the various options available throughout both China and Hong Kong.

2. Decide on a business model

As mentioned in Starting a Business in China: Part 1, there are two main business models used in China: The Sales Office via Labour Dispatch and the Wholly Foreign Owned Enterprise (WFOE).

There are two other options: joint venture and representative offices.  Each option has its own advantages and disavantages. Wheather to go for a WFOE or a representative office will be depending on your expansion plan to China. We will understand your business nature and business plan, and will provide a market entry solution that suits you.

3. Protect and trademark your intellectual property

Much of the foreign-owned businesses fall foul of intellectual property laws in China.  Many assume that because they possess a trademark in their home country, that it will automatically transfer to China.  However, that does not happen as China’s intellectual property laws a lot different to most other countries.  The first person to register a trademark in China owns the rights, irrespective of trademarks held elsewhere.  Having a partner like us is essential to helping you navigate China’s legal and trademark laws.

Primasia’s expert team has the tools and knowledge to help you with all the points mentioned above, as well as develop a business plan that is specifically China-based, organize the correct documents, and liaise with a bank.  Other services we provide include: Market Entry Solutions, Trade Services, Accounting (including Xero, Cloud Accounting), Business Matching (sourcing local Hong Kong or China business partners that are suited to best assist your company),  Payroll Management, Visa Applications and Employment Compliance, Tax Compliance, HR & Payroll Services and more. Primasia is the perfect partner to help you set up or expand your business in China.

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Starting a Business in China: Part 1

Starting a Business in China: Part 1

The business landscape is very different in China than western-based companies are accustomed to.  Primasia is here to help you navigate the business landscape in China and Hong Kong.

China presents western-based businesses with an incredible potential for growth and profit, as well as a host of complex issues.  It is advised to seek the assistance and advice of a China-based consulting firm to navigate these complex issues.  We will be able to help you understand and navigate these complexities, that range from legal issues to business operations and beyond.

There are two distinct business models used in China: Sales Office via Labor Dispatch and the Wholly Foreign Owned Enterprise (WFOE).  There are unique advantages and disadvantages to each business model, and your company will need to evaluate each one thoroughly to gauge which will best meet your financial and corporate objectives, as well as which one provides the least amount of risk.

Below you’ll find a basic description of the two business models to give you a better understanding of doing business in China:

Sales Office via Labor Dispatch

This business model involves using the services of a Professional Employment Organization (PEO).  The PEO will provide the business structure in China should your company not have a physical presence in the country-- ie. they’ll act as your subsidiary.  A PEO will provide services such as administration, fiscal and legal.  Western-based companies will benefit from this business model as it saves them from having to navigate all the legal complexities as well as the complex logistics of needing to set up a company in a foreign country.

A PEO will provide all the necessary human resources aspects needed to operate in China.  Employees will work under contract with the PEO and not directly under the foreign company. This way a foreign company will not have to deal directly with employment issues, as the PEO will handle payroll, tax compliance, visas, labor laws, expenses management, health insurance and office rental. 

Wholly Foreign Owned Enterprise (WFOE)

According to Chinese legislation, a company owned by 25% or more by foreign investment is categorized as a Foreign Invested Enterprise (FIE).  Most of the FIE entities operating in China are a WFOE.  A WFOE operates as a limited liability company in China.

The Chinese government introduced the WFOE business model as a way of exporting technology development and manufacturing.  However, foreign companies used this model as a way of setting up consulting and management services in China.  It is vital to understand that any capital or investments used by a WFOE should be from an individual, stand-alone entity and not from a WFOE that already has registered operations or branches in China.

Primasia provides different market entry solutions to assist you in expanding your business into China. Our team of experts can advise on all the legal, administrative and tax implications for your company, as you explore expanding your business to Hong Kong and/or China.  China presents companies with huge potential for growth in the market, but business setup does take time, investment and patience as you are being guided through the complexities.  Primasia is the perfect partner to help you access a tremendous market share opportunity, check out our website to learn more or give us a call.

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Primasia is now a Xero Silver Partner

Primasia is now a Xero Silver Partner

Primasia is proud to announce that we are an official Xero Silver Partner. We aim at making it easier for you to manage your business finances with Xero.

What is Xero ?

• Xero is an easy to use but powerful online accounting software that's designed specifically for small business
• Xero provides a view of financial information in real time
• Xero has a full suite of accounting features such as invoicing, payables, expense claims, reporting and much more

No installation, no manual backups and maintenance, no additional software. All updates and new features are available to you when you next login. Privacy and security of your data is taken care of and is stored on Xero's secure servers.

With Xero, you can:

• invite a number of trusted people such as ourselves to collaborate online and manage your accounts
• check your bills, issue invoices, see all business data anytime whenever and wherever your connect to the internet
• tailor-make financial reports 

What is Virtual CFO ?

• Commentary & feedback on financial performance
• Update income and expenditure projections and cashflow monitoring
• Ongoing communication with management on financial performance and improvement opportunities

Virtual CFO is more than bookkeeping services.

What can we do for you?


As a Xero Bronze Partner we are able to offer a full range of services from monthly/ quarterly/yearly bookkeeping to Virtual CFO, our team can act as your outsourced financial function in Hong Kong.

We are offering free demonstrations and trials of Xero to our clients this month. For more information please call us and we’ll arrange a suitable time.

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Primasia: Chinese E-Commerce Market

Primasia: Chinese E-Commerce Market

Primasia Corporate Services Limited is dedicated to helping different companies all over the world to set-up their operations in the Chinese e-commerce market. The Chinese E-Commerce Market is undeniably one of the most lucrative and fastest growing web industries in the world. China has a population of 1.4 billion, including 850 mobile internet users, which offers big opportunities for savvy international brands that wish to expand their business. The future of e-commerce most certainly lies east, not west.

When looking at the online retail market in China, you’ll notice 2 big players monopolizing most of the internet retail market-- TMALL and JD. TMALL occupies approximately 50% of the market share, whilst JD occupies nearly 25% of the market share. Thus building an online shop through TMALL and JD is the most common way to start your online business in China.

One big advantage of having an online store on TMALL, which is based on CBEC platform, is that the market entry barriers are low. There is no need to set up a legal entity in mainland China. You should hire a professional, like the experts at Primasia, to assist in preparing a proposal to TMALL and help with business negotiations. You see, for the mainstream platforms like TMALL, the CBEC is invitation only. There is no official online application process for interested clients. That is why it is essential to have allies by your side to help smooth the way for your business to enter the Chinese e-commerce market.

Primasia is able to provide full e-commerce services to their clients, including building up an online store on TMALL Global, running and managing the online shop along with customer support including maintaining chat channels, coordinating the orders and fulfillment process, and providing a single point of contact responsible for Quality, Reporting, General advice on optimization potential.

For over 30 years Primasia Corporate Services Limited has worked with thousands of overseas and local clients, including entrepreneurs, consultancies, manufacturers, trading firms, and startups. We're here to help your business succeed! Contact us today!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088\
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Traits Every Successful Business Leader Needs

Traits Every Successful Business Leader Needs

Great leaders display certain qualities that have made them, and their companies, very successful. These are traits that shine through during both the best and worst of times, qualities that their colleagues, employees and community respect and look up to. To be successful in your chosen industry, it is very important for every leader to work hard and gain great leadership skills. For over 30 years Primasia has been a leading professional provider of corporate services, dedicated to helping companies from all over the world to establish operations in Hong Kong, China and other offshore jurisdictions. We offer tailor-made corporate services, cloud accounting and many other supporting services that can help you save time, money and hassle.

Read on below for the attributes of you’ll find in today’s most successful leaders.

Clarity and Consistency

Successful leaders are direct and clear at all times, there is no question of what needs to be accomplished. Who, What, When, Why and How are always in focus-- clarity is a skill every great leader must master to achieve success. Consistency is key to communication-- whether you’re speaking with employees, colleagues or clients, everyone should always know exactly what is expected of them.

Bravery and Fortitude

Important business concepts like leadership, innovation and sales require courage to move forward. Often leadership can involve making unpopular decisions, which you’ll need strength to power through. Innovation often involves breaking new ground, developing new ideas and concepts that have never been tried before. When making sales, you’ll need to face rejection after rejection before finally closing a deal. All of these require courage and fortitude to accomplish your goals and become a business success.

Passion

Many successful entrepreneurs report the number one thing that drove their business success was passion. Being passionate about what you’re selling is a good thing but not completely necessary. You can also be passionate about starting a business or being self-employed for example. Passion is what drives you and keeps you going in the face of the difficulties that your business will inevitably come across. 

Primasia specialises in Corporate Services and Cloud Accounting, and has worked with thousands of overseas and local clients, including entrepreneurs, consultancies, manufacturers, trading firms, and startups. Our experts can assist any size and type of company, from startups, to small business, to the largest multinational corporation. Contact us today to see how we can help you succeed! 

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Need A Hong Kong Visa? Primasia Can Help

Want to start your future in Hong Kong? Thinking of settling down in this progressive city, which is home to diverse cultures and traditions? If you’re keen on building a life or setting up a company in Hong Kong, then you’ll need a visa. When it comes to visa services, Primasia Corporate Services Limited can help secure it for you.

We have been assisting overseas businesses in setting up companies in Hong Kong and China and provide on-going supporting services since 1987. We help businesses set up in Hong Kong and ensure that the Hong Kong companies are compliance with local regulations.

Primasia's one-stop services include:

   •    Company incorporation services (Hong Kong, Singapore and offshore jurisdictions)

   •    Company secretarial services

   •    Assistance with bank account opening

   •    Online accounting

   •    Tax compliance

   •    Trade documentation services

   •    Payroll and HR

   •    China set-up and support

Want to know more about doing business in Hong Kong and China? Contact us now and see how they can help your business expand to Asia. We have decades of experience and countless satisfied clients - you can’t go wrong!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Setting Up Business In China With Primasia

Setting Up Business In China With Primasia

Investing in China, the world’s biggest economy, can be a lucrative one. However, it entails lots of risks and, if not planned well, can result in problems and failure. Hence, it is imperative that investors should really establish a good, feasible and sensible plan. The first calculated step to take is to commission a corporate services firm that has decades of experience under its belt.

Primasia Corporate Services Limited has been assisting businesses from all around the world to expand into Asia, especially Hong Kong and China. We provide company structure advisory and market entry solutions to overseas client who wants to set up an entity in China. We can also assist in setting up the WFOE/ JV/ RO in the major city of China such as Shanghai and Guangzhou. Our China team in Shanghai office has solid experiences in providing company formation and on-going supporting services.

Primasia's one-stop services include:

   •    Company incorporation services (Hong Kong, Singapore and offshore jurisdictions)

   •    Company secretarial services

   •    Assistance with bank account opening

   •    Online accounting

   •    Tax compliance

   •    Trade documentation services

   •    Payroll and HR

   •    China set-up and support (WFOE, JV, RO setup)

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Primasia Helps Your Business From Start To Finish

Primasia Helps Your Business From Start To Finish

According to recent surveys, more than half of the entrepreneurs all over the world agreed that accounting and tax compliance are more difficult to handle than building and marketing a business. According to the surveys, financial concerns require professional skills and patience to learn and understand various tax systems.

For businesses that need tax and accounting assistance, Primasia is you best partner. For decades, we have been assisting and supporting companies in Hong Kong and China from start to finish. We provide Xero online accounting services which let you review your company's financial information anywhere where there is an internet connection.

Aside from accounting and taxe services, Primasia also provides other supporting services including:

   •    Company incorporation services (Hong Kong, Singapore and offshore jurisdictions)

   •    Company secretarial services

   •    Assistance with bank account opening

   •    Online accounting

   •    Tax compliance

   •    Trade documentation services

   •    Payroll and HR

   •    China set-up and support

Contact us for more information. 

===================================================================

Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

China e-commerce solutions

Did you know our China e-commerce solutions can help you find suitable platforms, manage your account and logistics? Contact Primasia today for more information.

===================================================================

Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong