What is the legal process of starting a business venture in China?

The legal process of starting a business venture in China begins with an application for a business registration certificate which needs to be filed with the Registration Administration Authority (RAA). Depending on the type of business venture, the applicant may need to provide a business plan, information about the ownership structure and other related documents. Once the application is accepted, the RAA will issue a business registration certificate. The next step is to obtain a business license from the Industrial and Commercial Administration Authority (ICAA). The applicant must provide information about the business’s name, address, nature of business, business scope and relevant certificates. An inspection from the ICAA will then be conducted to make sure that the applicant complies with all relevant laws and regulations. The final step is to seek approval from relevant departments such as the Foreign Exchange Administration (FEA) and State Administration of Industry and Commerce (SAIC). Applications must be submitted to the relevant departments and all the necessary documents must be provided. Once approval is granted, the business venture can officially start. It is important to note that the process of starting a business venture in China may involve registering with additional departments so it is important for entrepreneurs to do research on the requirements and regulations in each area. Furthermore, the process of setting up a business in China is complex and requires assistance from experts to ensure it is done successfully.

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What is the legal process of starting a business venture in China?

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