How to set up a Sino-foreign joint venture commercial factoring company, procedures and conditions

& How to set up a Sino-foreign joint venture commercial factoring company, please call Ms. Zhang directly at: ZZ
1. What is commercial factoring?
Commercial factoring means that the supplier transfers the accounts receivable based on the goods sales/service contract entered into with the buyer to the factor, and the factor provides accounts receivable financing, Trade financing tools for comprehensive financial services such as accounts receivable management and collection, credit risk management, etc.
The essence of commercial factoring is that the supplier converts the credit of the core enterprise (i.e. the buyer) into its own credit based on commercial transactions to achieve accounts receivable financing.
2. Declaration Conditions
The company’s registered capital shall not be less than RMB 10,000, all of which shall be paid-in monetary capital, and the source shall be true and legal.
The main investor should be a corporate legal person and other social and economic organization, and the total assets in the year before application should be no less than RMB 10,000.
Foreign investors in commercial factoring companies or their affiliated entities should have performance and experience in factoring business.
A commercial factoring company should have at least one senior executive with management experience in the financial field and no bad credit record, as well as qualified professionals suitable for its business.
The proportion of foreign shares in a Sino-foreign joint venture shall not be less than %.
3. Sino-foreign joint venture commercial factoring companies, compared with wholly foreign-owned enterprises, need to provide additional information about the Chinese company
, a copy of the company's business license with the official seal
, and the company's annual audit report for the previous year
, bank credit certificate
4. Processing time
Wholly foreign-owned and Sino-foreign joint ventures: months
5. Process of contacting us
After you read the above information, If you still don't understand anything, please call Ms. Zhang directly (ZZ). If you have decided to set up a company or apply for a license, you can contact me.
Contact: Ms. Zhang
Telephone
Mobile: ZZ
Website./
Email [rd]
Address: Excellence Times, Central District, Futian District, Shenzhen Plaza Building