1. Do I need to engage professional advisors or registered agents to set up a company in Mainland China?
Depending on the business sector and the size of the potential investment, a Hong Kong investor may choose to engage professional advisors to give advice on the relevant laws and regulations, market analysis, contract drafting and negotiation. A PRC lawyer, accountant or other registered agent, such as the local international trade development committee or a foreign services company, can be engaged to carry out registration matters and applications for approval or licences.
Foreign services companies such as the Beijing Foreign Enterprise Human Resources Service Co. Ltd. (FESCO) (a state-owned corporation) also provide services such as recruiting qualified Chinese employees and ensuring that policies and procedures comply with the statutory requirements regarding social insurance and welfare for staff, importing or local purchasing, the leasing and maintenance of office equipment and consumables, and their transportation and storage.