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Welcome to Investing China (Shanghai) Pilot Free Trade Zone
The planning area of Shanghai Free Trade Zone is 28 square kilometers.Including Yang Shan Bonded Port Area,Wai Gao Qiao Bonded Area (Containing Wai Gao Qiao Bonded Logistical Park Area) and Pu Dong Airport Comprehensive Bonded Area.There will be tax preferential and special supervisal policies in these special areas.Compares with other bonded areas,the Free Trade Zone means more preferential policies and wider opening rage.
---What is Free Trade Zone?---
Free Trade Zone is divided into two different types.One of them is the generalized Free Trade Zone,it means two (or more) countries and areas cancel most of the products' custom tax and non-tariff barrier in separated phases through signing a free trade agreement.And the other one is Shanghai-the narrow Free Trade Zone.Meaning as far as import custom tax and other tax of any products in this area are concerned,they are regarded as outside China.Which means they are free of customary custom supervisal systems.
What is the difference between the Bonded Area ans Free Trade Zone of Shanghai?
Different than other bonded area,the biggest feature of Free Trade Zone is the special custom supervisal system called "Domestic but out of Customs". Which means "Open the A line (Free Trade Zone and boarder line) and control the B line (Free Trade Zone and Non Free Trade Zone)".
General back ground of Shanghai Free Trade Zone's Approval,China is now facing the "Second Entrance to the World": China is not concluded in the European and America Free Trade Zone Negotiation and Pacific Partner Relationship Agreement.China is facing the big risk of "Second Entrance to the World" according the probability changes of future international trading rules and patterns.
---General Planning of Shanghai Free Trade Zone---
1.Tax policies with more international competitive.
2.Foreign financial institutions open foreign capital banks.
3.Promote the innovative pattern of international trading.
4.Private capital and foreign financial institutions open joint venture banks.
5.Reforming and perfecting the area supervisal system.
6.Foreign invested enterprises can apply for <Payment Transaction License>.
7.Innovation of International Ship registration system.
8.Allow the registration of foreign invested credit information company.
9.International CNY and foreign exchange reformation.
10.No minimum register capital for financial leasing.
11.Free Trade Zone promote the conveniency of enterprises invest abroad.
12.CNY convertible (on probation).
13.Cancel some limitations of foreign investment enterprise requirements.
--Shanghai Free Trade Zone-- PK --Shen Zhen Qian Hai--
Generally,in the past,most of foreign investors need to invest a company in Hong Kong,then invest their company in the name of their Hong Kong company.The formation of Shanghai Free Trade Zone will change this pattern completely.It allows foreign investors invest in Shanghai China direct from their own country.Shanghai will take over the international financial trading center from Hong Kong in the coming future.
Acreage:Acreage of Shanghai Free Trade Zone is 28 square kilometers,and Shen Zhen Qian Hai is 15 square kilometers.
Location:Shanghai Free Trade Zone include Wai Gao Qiao,Bonded Logistical Park,Yang Shan Port Bonded Area,Pu Dong International Airport Comprehensive Bonded Area.Shen Zhen Qian Hai include Hong Kong,Shen Zhen and Guang Zhou.
GDP scale:Free Trade Zone is 11000 billion,and Perl River Delta is 4800 billion.
Positioning:Shanghai Free Trade Zone International Financial Center have a complete and comprehensive system while Shen Zhen is a opening testing.
Core advantages:Free Trade Zone have a good financial foundation.
Shanghai and Shen Zhen this two area are both take financial innovation as the most important thing, that makes there's a big competition between this two.As the market planning,Shanghai Free Trade Zone will conclude rate marketization,exchange rate free,financial business wide open and etc.Compares to Shen Zhen Qian Hai,Shanghai may step a little further.
---History of Shanghai Free Trade Zone---
November of 2009
Shanghai Comprehensive Bonded Area was formed,started to unified manage Yang Shan Bonded Port Area which was started using since December of 2005,Wai Gao Qiao Bonded Area which was started suing since June of 1990 and Pu Dong Airport Comprehensive Bonded Area.
Shanghai City submitted the application about set up Free Trade Zone in Shanghai Comprehensive Bonded Area to related department of the country.
November of 2011
The 11th World Free Trade Park Conference was held in Pu Dong,Shanghai.It showed the development status of China special supervisal area,especially Shanghai Comprehensive Bonded Area.
January first of 2013
Shanghai brought out "Explore to Establish Free Trade Park Accord with International Conventions" in the <Regulations of the Promoting of Construction of International Trading Center by Shanghai City> for the first time.
February 28th of 23013
Shanghai issued <Lin Gang 30 "Double Special" of Executive Policy>,aiming at mobilize the positivity of area development and strengthen the independency of area development through explore and execute a special system different than other areas.
The end of March of 2013
Premier of the State Council Li Keqiang investigated Wai Gao Qiao Bonded Area during his staying in Shanghai,and showed his encouragement of the Free Trade Zone construction of Shanghai in the basis os Comprehensive Bonded Area.
April 18th of 2013
Office director of Shanghai Commerce Committee verified to the media that Shanghai was coordinating with the committee of the country to draft <General Planning of Shanghai Free Trade Park Construction>.
May 14th of 2013
The project of Shanghai Free Trade Zone was brought to approval phase.
Late May of 2013
Pu Dong Free Trade Zone Experimental Planning was discussed and approved by Shanghai Government,then submitted to the state government and entered to the countersigning phase.
July Third of 2013
<General Plan for Free Trade Zone Experimental of (Shanghai) China> was approved at the Executive Meeting of the State Council.
"Three Area" of Shanghai Free Trade Zone has already formed a expedite transportation network.
Highway:Conveniently connected the "Yangtze River Delta" trans-provincial highway system through the highway system connection of this three areas and down town area by S2,G1501 and S20.
Waterway:The water "shuttle bus" container lightering system has been opened between Yang Shan Bonded Port Area and Wai Gao Qiao Port Area.The planned and under constructed inland water transportation system will connect the inland water transportation system of "Yangtze River Delta".
Railway:The Lu Chao Port Railway Container Center station has been constructed and put into service,and the annal transfer capacity can reach 1.8 million standardizing boxes. And it can extend to Wai Gao Qiao and Pu Dong airport.
Aviation:Pu Dong international airport is 20 kilometers from Wai Gao Qiao bonded area,30 kilometers from Yang Shan bonded port area,and seamless connected with Pu Dong Airport Comprehensive Bonded Area.
Metro:Metro line 6 connected to Wai Gao Qiao Bonded Area,line 2 directly goes to Pu Dong Airport Comprehensive Bonded Area,and line 16 go straight to Lin Gang new city (Planned to be constructed in 2013).
Welcome to invest in Shanghai Free Trade Zone,Company Registration.
Introduction of Shanghai Free Trade Zone Company Registration Policies.
The preferential policies and simplified tax&custom approval of company registration in FTZ of Shanghai has brought worldwide investors to this 28 Square KM land. The approval of FTZ will mainly have influences on company registration,taxation,import&export and other legal issues.The vigorously promotion of FTZ have expedited the construction of Shanghai's global trade center,financial center and shipping center.
According to the policy summarizing of FTZ by KingYee China business legal team,following is the elaboration of main policy,company registration,virtual address of registration,warehouse and etc.
1.Geographical advantages of FTZ:Located in port area,near the exit of Yangtz River and Pu Dong international airport.This advantages have decided this area's got a very strong logistics transportation systems.
2.Bonded policy have brought advantages like products entry without customs duties or import linkage tax,tax lagging,inconformity settlement of foreign exchange capital and product flow which can not be taken in other areas.
3.Associated industries:Basic highways,wharf,airports are the best choice for 15,649foreign enterprises from 120 countries.
4.Applicable industries:Trading,import&export,wine,foods and all Chinese labeled industries.Export manufacture,logistics and domestic trading.
5.Custom clearance:Offsite custom clearance,no time limits for cancellation,trade settlement with US dollars,cargo transshipment,logistics,domestic trading.
6.Financial and foreign exchange:Global offshore financial business,trans boundary CNY business and loosen regulation policy of foreign exchange.
Along with the constantly rising of FTZ areas' housing prices and the promotion of Shanghai's international standing,the cost of register company in FTZ are getting higher and higher.As the "Opening Big Number" of Chinese government's new policies,FTZ will attract more and more foreign investors to Shanghai China.
For more specific informations about the bonded area policies,feel free to contact with KingYee China.
---What can KingYee do for you in FTZ?---
Investment consulting,project approval consulting and some other agency services.
Company registration,accounting service and bank account opening service.
Registration address in FTZ,including virtual and actual address for company registration,the warehouse,and small-sized warehouse containing cold storage that suit for the import and export of food,agricultural products and wine.The fees of the actual address have increased with the carry-out of the preferential policies of the Free Trade Zone.
Foreign trade consulting,the right to import and export,customs registration and inspection and quarantine.
Visa invitation,legal service and business consulting service.
---The registration process of Free Trade Zone---
Name approval,Foreign investment approval, application of business license ,organization code certificate,tax registration,foreign exchange registration, bank account opening,finance,statistics,customs, inspection and quarantine.
---Accounting service in Free Trade Zone---
The application of general taxpayer,equipment configuration,application of invoice,export rebates,financial reporting,preparation of statement,final settlement and annual audit.