How to set up a non-profit fundation in China

Finance

Tuesday, 15 February 2011 07:28

The requirements and procedures to establish a non-profit foundation in China are quite complicated. The following is a brief introduction of it: 

1. The basic requirements are that the fundation is required to be in the name a Chinese individual person or a Chinese company, such as Junzhao. Foreigners are not encouraged to set up foundation in their own names.

2. A office located in some commercial building like Junzhao is using.

3. At lease two million RMB must be put in the bank account of the foundation, and extra RMB200,000 to be paid into the account annually.

4. There must be more than 5 person appointed as directors and they can not be immediate relatives.

5. The initiator must show continuous willingness and capability to contribute to the fundation.

6. The foundation will be set up following similar procedures as the formation of a company.

For more information, please consult our lawyers and attorneys.