European investors allowed to start businesses in Huangpu remotely

Individuals and enterprises from Europe are now able to start a business in Guangzhou's Huangpu district without leaving their home country under a cross-border business registration program.

A strategic cooperation agreement was signed between the Huangpu market supervision bureau, Guangzhou Coray Investment Service and the Guangzhou Development District Branch of the Industrial and Commercial Bank of China recently to bring the cross-border business registration service to Europe.

The first business license under the upgraded program was issued by the Huangpu market supervision bureau to a German-funded enterprise that same day.

A business license is issued by the Huangpu market supervision bureau to a German-funded enterprise.

European enterprises and individuals seeking to launch their business in Huangpu can use Coray's service outlets, which will assist with the preparation and submission of the application materials.

The Huangpu market supervision bureau will open a green channel for expedited examination and approval services. The entire process related to business license, seal inscription and tax invoices can be completed in half a day.

Applicants can send their staff or entrust Coray to obtain certificates, seals and invoices. Electronic certificates can also be downloaded online.

To open a bank account, legal representatives of the new enterprises can complete the authentication process via video at ICBC's European service outlets, and submit the required materials to the bank.

Huangpu launched its cross-border business registration program in October 2019. It has since offered great convenience to investors from Hong Kong , Macao and Singapore.

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