Reply To: Russian orthodox church in Shanghai?

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Anonymous
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I have passed on your comments to aforementioned friend in HK. Thanks for your replies and advice thus far.

Some of you mentioned WFOE’s. Now, he hasn’t mentioned anything about attempting to do this, but I may as well give him all that I can find – I read a little about setting up a WFOE and it would appear (again let me stress my ground zero knowledge of this) that they are very expensive to set up and also the founding director or directors need to have 500,000 RMB in the established business bank account for the first six months. Or is this all completely wrong?

I know an guy here who is setting up a WFOE for a completely different business to my friend (telecommunications I think…) and he said that it has cost him 25,000 RMB to set up and he was not asked to put any large chunk of change in the business bank account.

Any further advice/help would be much appreciated.