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Healy Consultants Validates China as a Manufacturing Paradise

Singapore City, Singapore –March 18, 2014 - Singapore-based Healy Consultants has successfully demonstrated its ability to incorporate a company in China without burdening clients with travel.

China’s countless port facilities, airports, inexpensive skilled labour, low raw material costs and low rental costs make it an excellent distribution center.China boasts 3 free zones offering foreign companies i) zero corporation tax, ii) no customs duties, iii) minimal registration requirements and iv) no exchange controls. China boasts 134 industrial development zones, which offer foreign companies good infrastructure, better transportation access, and 24 hours customs clearance service. China boasts 54 Export processing zones (EPZ) offering foreign companies lower corporation tax and subsidized custom duties.

China is ranked well at 19 for the enforcing contracts in the 2013 world doing business survey. Therefore, foreign investors can be reassured that the contracts they sign are valid and taken seriously. China has signed 97 double taxation treaties minimizing withholding tax on funds transfers between countries. It has an intelligent skilled labour force, boasting a literacy rate of above 93%, and the 12th highest average national IQ level in the world.

Low Business Costs

China has the largest labour force in the world, with over 900 million people aged between 15 and 59 in 2012. Consequently, there is an excess labour supply and recruiting labour is easy and cheap. Average monthly skilled salaries approximate US$490. China has an abundance of cheap raw materials, the country is rich in several natural resources such as coal, iron ore, natural gas, lead, zinc, gold, and aluminium. The monthly rental cost of an office in Shanghai is approximately US$900 per month. There is an excess of rental space in Chinese cities, average monthly office rental in main cities is US$65 per square meter. Renting industrial space in Chinese industrial parks is cheap. The average Industrial rent per month amounts to around US$2 per square meter.

About Taxes in China

China’s corporate tax rate is a flat 25% on all corporate profits, reduced to 15% for entities that are established in special economic zones. The Value Added Tax in China is set at 17%, except food industries and utilities that enjoy a reduced VAT of 13%. China has signed 97 double taxation treaties with countries around the world. All China company formation enterprises must file a quarterly corporate tax return with the local authorities. This has to be submitted within 15 days of the end of the quarter. In addition to this, an annual tax return has to be submitted within 5 months of the end of the tax year. There is no China withholding tax on dividends to parent companies for China business formation. Tax year in China starts in January and ends in December.

About Healy Consultants

http://www.healyconsultants.com/

Healy Consultants provide a full range of professional services which include the following:

Offshore financial services

Accounting and taxation

Corporate finance

Business start up services

Corporate banking

Global marketing services

Company formation

International trading strategies

Healy Consultants are professionals who offer quality services, which perfectly match the needs of our highly-sophisticated clients. We are also proud of the fact that our services are affordable and accessible by our most modest customers.   

Our clients have access to an excellent range of quality products and services. We come with rich experience and a global presence, resulting in unique market awareness beneficial to your firm in more ways than one.

For further information:

Mr. Aidan Healy

Business Owner

Healy Consultants

Room 304, #12 Office Building, Hepingli, Dongcheng District, Beijing
Tel: (+86) 1084057444

aidanhealy@healyconsultants.com

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