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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)

Fill in your info below to receive WFOE Cancellation Paper!

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 Consulting Group

1421 Consulting Group is a leading consulting company, excited about China and driven to help Western companies navigate their way through China. Our specialization focusses on supporting companies set-up and grow their business in China. We use our strong knowledge and network for assisting companies in China. The combination of our Western colleagues with vast experience in China, and our Chinese colleagues with strong understanding of the Western needs and desires, makes us able to assist you in the best possible way.
Since the foundation of 1421 Consulting Group we have assisted companies in a variety of industries with the deregistration of their WFOE in China.  

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