HSP Access China
Overseas Direct - HSP Access China offers an entry strategy to this complex market at predictable costs from a single provider. This signature fixed-price service is a turnkey method for setting up and managing the normal recurring finance, compliance and administrative activities related to the operations of a Registered Office or Wholly Foreign Owned Enterprise (WFOE). A one-time fee covers project assessment and entity set-up and registrations. Fixed fees then cover international payrolls and payroll taxes, monthly accounting preparation, local statutory financial statement filings and audit requirements as well as compliance with local income tax, business and additional related taxes, and FEIT filings. Monthly reporting packages include balance sheet, P&L, trial balance, general ledger detail, cash and other account reconciliations and, if applicable, an inter-company service invoice.
Like all of High Street Partner’s offerings, Overseas Direct - HSP Access China provides a single point of contact, local partners in the overseas location(s) and a layer of management oversight.
Advisory Services
In addition to the specific services outlined by OsD - HSP Access China, we often provide advisory help. Though not always needed or required, HSP assistance with these projects can help ensure smooth operations and keep employees focused on business growth. Here are some examples:
• Assistance with office leases – China has very specific guidelines relating to setting up compliant (RO, WFOE) office leases. Significant delays in registration and approval can arise if the selected space doesn’t meet requirements or the landlord doesn’t hold the necessary documentation.
• Interim payrolls through CIIC – Helpful when expat or local employees have started working before an entity has been formally established.
• Assistance with bank accounts
• Transfer pricing studies
• Advice relating to US equity grants (stock options) to overseas employees
• Non-statutory benefits and industry standard salary in accordance with local market norms
• Assistance with opening Company Tax accounts for both National and Municipal Taxes
• Temporary work visas, residency and work permits for expatriate employees and their families
• Intercompany Service Agreements (ISAs)
• Trademark and patent registration
• Staffing
• Vehicle registration
