Kenneth Wong made a very good introduction to WFOE (or is it WOFE?) at SGentrepreneurs.
For many foreigners seeking to setup business in China, the Wholly-Owned Foreign Enterprise model is the the de facto model to go for.
However like another writer Gabriel Yong mentioned, there is “a large grey area when you want to do business in Shanghai“.
My opinion is that WOFE is only for companies that is established, stable and growing. It is the proper channel and safeguard the legal rights of the company.
However if the company is new or startup, there is no point in bringing a wad of cash and start a WOFE.
Hi Ken
Glad that you found the introduction useful. I am interested in your approach to starting up your own business in China with a local partner. Maybe we could meet up in Shanghai together with Gabriel one day? My number is xxxxxxxxxxx, drop me a line any time
Cheers,
Kenneth
(edited to keep mobile private)
Certainly! I network too little for my own good and I should do that more often to sell myself and service :)
Our offices are all pretty close by.
Thank you for linking our article to your site.
When I come to Shanghai, we should meet up. :)
Best regards,
BL
Looking forward to that Bernard!