Shanghai Free Zone Streamlines Company Registrations
by Lorys Charalambous, Lowtax.net, Cyprus
05 December, 2016
Pudong New Area and the China (Shanghai) Pilot Free Trade Zone have begun testing a new company name registration system.
Authorities have drawn up a long list of expired or unused names for new companies to choose from.
The authorities have said that once a name has been picked, the registration process can be completed on the same day the application is submitted.
Pudong New Area and the Shanghai Pilot Free Trade Zone have both put in place online service platforms to help applicants select a company name. The online service platforms alert applicants if they select a copyrighted name and send a confirmation message to the applicant's mobile phone after registration is completed. This is said to save applicants the trouble of preparing a long list of backup names in case a preferred name has already been reserved.
The Shanghai Pilot Free Trade Zone was created in 2013 and offers new companies a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.
See all of today's news