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support, airport, China, WOFE, open a business in China, china business support, china business consulting

Why You Need a Flexible Support System in China

The problem

We always look to  provide the best support to our clients, but due its size, China can be an overwhelming country , so we understand when our clients are hindered to come directly to our office in Shenzhen. Just recently, one of our clients, a paper products manufacturer, was looking into moving part of his manufacturing process to the South West region of China. Since the team of three was on a strict time schedule they were not able to come to Shenzhen personally in order to meet with Incorp China’s team to discuss the bureaucracy behind such a move.

The solution

Therefore, Incorp’s CEO, Robert Fisch and two of his team members took a train, planning to meet the client in the city close to where they were looking at potential factories looking to provide an appropriate support. Since it is hard to stick to a specific time schedule with factory visits, the Incorp team needed to come to the airport to catch the client shortly before they would fly back to the US. Thankfully, everything worked out and the US clients had over an hour to discuss the procedures behind setting up an entity in China with Incorp China. A Wholly Foreign Owned Enterprise (WOFE) would allow the client to invoice other Chinese factories, in the local currency, Renminbi.

The benefits

Taking such a long trip simply to meet a potential client might seem like an odd allocation of company resources. Incorp China, however, has built its success on establishing personal relationships and providing the quality service and support our clients deserve. Going the extra mile for our clients shows that we truly care and are prepared to help, no matter the obstacles.

The lesson

Incorp China is about much more than just serving clients. We want to be a long term partner and support system to all our clients and bridge the gap between the Eastern and Western business world. Flexibility plays a huge factor in that, especially since China can be unpredictable in terms of its rules, regulations, and conditions for foreign enterprises. We have the experience and are prepared to deal with these challenges. Incorp China will assist you no matter where you are from, where in China you want to operate and how big or small your mission might be.

Contact us!

Are currently looking into expanding or moving your business to China? Let us do your paper work for you – so you can fully concentrate on your business. Call us for a free consultation today at +1 (561) 729 6508, or write us an email at info@incorpchina.com. We are looking forward to hearing from you.

 

Want to know how Incorp China help saving an oil platform? Click HERE to read the story.

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Opening Up a Bank Account in China, credit card, Opening Up a Bank Account Under Tightened Restrictions - What You Need to Know

Opening Up a Bank Account Under Tightened Restrictions – What You Need to Know

Why opening a bank account in China is more difficult today

It is no secret that the recent crackdown on money laundering has left foreigners struggling to open a bank account in China. As a result, it has become even more beneficial for foreigners, seeking to move or extend their business to China, to consult an agent on the ground. The reason why there are so many China consultancies on the market is because it’ is quite challenging as well as time and labor intensive to get a company approved. Only a few of these China consultants are as committed as Incorp China, connecting with the government bureaus and banks, forming friendships, and therefore getting our clients the service they deserve.

Going beyond obvious

One of our most recent clients, a US software security company, had to open up a bank account after his company license had been approved. In order to do just that, our team went to one of the bigger China Construction Bank (CCB) branches located not too far from our office. Unfortunately, since banks had tightened their requirements over the past couple of months, our first request was denied. Why, is open for speculation.

China, bank, logo, bank account, services

The China Construction Bank is one of the ‘big four’ banks in China – and one of the 10 largest banks in the world by revenue.

As Robert Fisch, Incorp China’s CEO did not want our client to have to fly back to China in order to give it another try at another bank, he went into the branch again with two members of his team. At the CCB branch, he found the employee who had refused our application, talked to her, and tried to find out why our client got refused and what we could do to fix it. When this did not work out, he managed to find the account manager.

The account manager, respectful and courteous as the Chinese treat their guests, offered us tea and his time in the staff kitchen. There, the Incorp China team and he talked, tea, took pictures and we each showed interest in each others’ jobs, cultures, and languages. After a while, the account manager promised to help us in every way he could, but that he would first need to get approval from the branch manager. She, luckily, was on site this day.

branch, manager, bank, China, meeting, financial,

The account manager was incredibly friendly and helpful and introduced us to the branch manager, who agreed to see us immediately. Again, the Incorp team were offered tea, we talked in the CCB branch manager’s office about this and that – starting with small talk but ending up talking about family, the beauty of China and how rapidly it has evolved in the past decades. The manager did not, however, clearly state how she was going to help us, despite being very friendly and enthusiastic about our visit. Nevertheless, she did make sure to let us know that she wanted to assist us in the process.

When we went to visit the branch a second time, the mood was slightly more dampened and the odds did not look like they were in our favor. Even a long meeting, talking about all the technicalities of the bank account opening procedure, did not change or clarify anything.

Unfortunately, for the following couple of days, there was honestly more confusion than progress. Nobody could really tell us what had gone wrong, what we needed to do to get the process going, or whether, in the end, they couldn’t do anything for us at all.

Therefore, our CEO headed back into the branch and had a meeting with all managers he could find on site together. After, yet again, some tea and chatter, the situation looked a lot better. We finally got a hint of what had gone wrong, and after ensuring the team at the bank branch that we would love to bring them more business, they understood that we were as serious about the legislations as they are. They agreed to restart the bank account opening process all over again – a clean slate – without the head of the client’s company having to travel to China again.

It’s all about client support

While this was time-consuming for our team, it got us connected with the CCB branch team near us, taught us yet another lesson about China’s bank requirements, and reminded us that with friendliness, patience, and a true passion for our field, every problem can be resolved. We are thankful for all of the China Construction Bank team’s time and effort and their dedication to their clients. Even more so we are proud to have resolved this issue for our clients and helped them to the best of our ability.

The trick to why all of these meetings with the managers of the bank’s branch where possible, and ultimately why they listened to us, was for Incorp China’s boss to speak Mandarin fluently. His China experience, consisting of well over 30 years and counting, gave us the insight into what is and what isn’t possible in such delicate situations, and, perhaps more importantly, displayed the legitimacy and seriousness of our business. It showed that Incorp China is helping both Western companies as much as the Chinese economy by bringing them here. We have been here for a long time and are intending to stay. This feeling of stability combined with our China knowledge has helped us more than once in negotiating a great deal for our clients.

Therefore, it is truly important and money well invested to have somebody on the ground in China who can provide this support to your business.

If you are currently looking into expanding or moving your business to China, let us do your paperwork for you so you can fully concentrate on your business. Call us for a free consultation today at +1 (561) 729 6508, or write us an email at info@incorpchina.com. We are looking forward to hearing from you.

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China Consultants,Shanghai, China, money, business, firm, enterprise, startup, open an office in China, economy, work, consultant

Why Employing China Consultants To Solve Banking Issues is a Must

Nationalities are a way of creating a sense of belonging. As soon as you are born, you are gifted one, sometimes two, nationalities. They play an important part in how you identify yourself throughout your life and they can come with – or prevent – great liberties. The problem with belonging to one nationality is that, as soon as you take a step beyond your mother land’s borders, you are a stranger. It is human nature to protect what we know and recognize and seek distance from what we see as foreign and unknown. Whether executed consciously or subconsciously, this behaviors is deeply engraved in our DNA.

It comes at no surprise, therefore, that institutions within one country make it their duty to protect their own citizens as best as possible from everything and everyone outside national territory. Foreigners are therefore naturally subjects to greater controls, restrictions and more tightly supervised legislations.

Coming to China will illustrate this point precisely. Being treated like this by banks and bureaus is neither meant intrinsically bad nor malicious, but can be very frustrating and drag out simple tasks seemingly forever.

One of our US clients, providing HR services for companies worldwide, was experiencing grave trouble with banks in Shanghai. While we cannot name the exact cause for this problem, it essentially prevented our client to pay their staff in multiple countries as a large part of their profit was stored in the Shanghai bank accounts. Incorp China had the entire team on their phones talking to banks in all time zones – Shanghai, Singapore, the United States and the United Kingdom – day and night. It was our goal not only to find a short term solution and get the client’s staff payed with whatever bank accounts were accessible, but even more importantly, smooth things over with the Shanghai branch and regain access to the client’s account. The issue was resolved, salaries were payed on time and the Shanghai account was reopened for transfers in and out of the country. Incorp China is continuing to look after this client’s staff all over China and helps the individual branches manage their HR payroll processes.

Contact us to find out how we can help you. With over 30 years experience in China, we have the knowledge and passion for the field to support you and your business.

Call for a free consultation today at +1 (561) 729 6508, or email us at info@incorpchina.com with any questions you might have. We are looking forward to hearing from you.

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