Shanghai Expats: Easier to Start A Business Now!

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Shanghai Expats: Easier to Start A Business Now!

Shanghai's market regulators announced on Tuesday that they have launched a fully paperless system that allows foreign investors to go through the application process for projects rapidly and with "zero contact" over the Internet.

On the paperless system, one can handle a business license, employees "five insurances, and one fee", and receive free electronic business licenses, electronic seals, and electronic invoices simultaneously.

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How to use the online system?

Log in to the "Yi Chuangtong" online serviceplatform(yct.sh.gov.cn) for enterprises in Shanghai and start your business right now!

Handling business license

You can use the system to declare the name, location, business scope and other information required for the business license.

When declaring the enterprise name, the system will automatically pop up the standardized industry expression and enterprise organization form, all you have to do is click and choose. 

When declaring the location, the system could provide a standardized residence information inquiry and selection service. You can choose the standardized location for registration according to the situation of the leased house, or you can declare the enterprise location for registration independently.

When declaring the business scope, the system will provide a query service for the specification of the business scope automatically.

Obtaining electronic seals

Free electronic business license and electronic seal will be issued simultaneously for every newly established enterprise in Shanghai. 

When the enterprise is established, the electronic seal will be obtained free of charge through a mobile phone.

Dealing with "five insurances and one fee"

One could use the system to apply for employee employment insurance registration and housing accumulation fund for employees as needed.

The related business will be completed online along with the establishment registration of the enterprise, without having to do any of the additional paperwork.

Applying for invoices

You can choose to apply for all kinds of electronic invoices including VAT electronic special invoices for enterprises in the paperless system.

Source: Shanghai Municipal Bureau of Market Supervision 

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COVID-19 Update June. 17th

1. Shanghai: 

+2 local cases

+3 imported COVID-19 cases

2. Chinese mainland:

+23 local cases

+62 imported COVID-19 cases

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