WFOE Cancellation:
8 Steps

Closing a company is not always easy and the reasons for the closure are often different. It is key to follow all deregistration steps and cancel your WFOE correctly. Otherwise you might face future restrictions in China.
This white paper introduces the most important steps to deregister and cancel a Wholly Foreign Owned Entity (WFOE)

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WFOE Cancellation China

Importance of WFOE Deregistration

Following the process for deregistration of a WFOE in China is very important. The Chinese government imposes severe punishments on the investors and stakeholders if the company is not de-registered based on the legal procedures.   If you fail to properly cancel your company in China, the names of the people involved will be placed on a blacklist. Being on the blacklist means that you are not allowed to carry out further business in China, or you may even not be able to enter – or leave – China.  

Authorities involved in
WFOE Cancellation

Industrial and Commercial Bureau

Bank

Foreign Trade and Economic Commission

Tax Bureau

Customs Office

Authorities involved in
WFOE Cancellation

Customs Office

About 1421 by Acclime

1421 by Acclime is part of the Acclime Group. The Acclime group is the premier corporate service provider in Asia. Acclime today has a presence in ten jurisdictions, including Cambodia, China, Hong Kong, Indonesia, Malaysia, Singapore, Thailand, and Vietnam, with more than 400 professional staff. Acclime can help you advance in other Asian markets too, via our network of partner firms!

Since the first year of our existence, 1421 by Acclime by has provided companies with support inthe cancellation process of a WFOE in China. Next supporting you in China we can support you in other Asian countries as well!

Schedule a direct meeting with one of our consultants or send us a message!

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