Choosing the Right English Company Name for Your Shenzhen Company

When it comes to registering a company in Shenzhen, the process is not complicated and the costs are generally not high. The cost is not for the registration itself, as the Industry and Commerce Bureau does not charge a fee. However, for those unfamiliar with the registration process, the assistance of a third-party agency may be helpful, and this will incur additional costs.

The cost of registering a company in Shenzhen is typically around 500 yuan. Some companies may offer promotions that could lower this cost, and many such services will provide accounting and tax reporting for free after registration.

Aside from the registration fees, there are three other costs involved in the process:

1. Name checking – Free of charge;

2. Business address mapping – Starting at 900 yuan per year;

3. Seal engraving – Free of charge for registration.

In terms of seal engraving, the Industry and Commerce Bureau will directly send the form to a nearby engraving store to be processed. This could take up to three hours, after which the seal will be delivered to the company.

However, if changing the company name after registration, a separate cost will be incurred for engraving the updated seal. This cost could range from 200 to 500 yuan, depending on the number of seals required.

4. Accounting and tax reporting

The cost of accounting and tax reporting varies among companies, with no uniform standards in place. However, for small businesses, the cost is generally around 2,000 yuan per year. For those designated as general taxpayers, the cost could range between 5,000 to 6,000 yuan per year, or higher for those who need frequent travel expenses or invoicing.

5. Bank account opening

There is no charge for opening a bank account, but employing the services of a third-party agency will incur a fee since the account opening process can be time-consuming and complicated. After the account is opened, the bank will charge an annual account management fee, which can vary by bank and typically amounts to several hundred yuan.

When shutting down a company, it is important to cancel its bank account as well to avoid incurring any additional fees.

The materials required for company registration are:

1. Application for Company Registration;

2. Company Articles of Incorporation;

3. Legal qualifications of the legal representative or identification of the individual shareholder and their photocopies;

4. Identification and photocopies of the agent;

5. Proof of the company's registered address.

When choosing an English company name, it is important to keep it in line with the company's image and industry while also being easily recognizable by foreign clients. One method is to associate the company name with common English words or phrases that are related to the business.

In conclusion, knowing the costs and basic procedures involved in registering a company in Shenzhen is essential. Choosing an appropriate English company name is an important step for appealing to foreign clients and ensuring a positive image for the company.