Change of Shareholder & Equity Transfer of WFOE

Procedure

1) Application for approval with the foreign affair department and obtain the approval for equity transfer
2) Registration with local authority department to updated business license
3) Post-registration filings and issuance of updated certificates
a) Registration with public security bureau (PSB)
b) Registration with organization code center
c) Registration with China tax bureau
d) Registration with statistics bureau
e) Registration with finance bureau
f) Registration with customs bureau (if necessary)

Application Documents

1) Shareholder Decision
2) Amendments to Articles of Association
3) Equity Transfer Agreement
4) Certificate of Incorporation and authorized signatory of the Purchaser of Equity
5) Bank Reference Letter of the Purchaser of Equity
6) Appointment Letter and New name list of board of directors
7) Requisite Application Form
8) Other Applicable Documents

Estimated Time

1) Local foreign affair department Application: 20 working days
2) Local companies registry department: 2 weeks
3) Post-Business-License registrations: 3 weeks