Many markets in Asia differ materially from their counterparts in North America and Europe. In order to operate in China’s e-commerce platforms, for example, your company needs specific licensing in place.
From a regulatory perspective, markets in Asia differ significantly from their counterparts in North America and Europe. In order to operate on China’s e-commerce platforms, for example, companies need to obtain specific licenses, which are not requirements when looking to conduct e-commerce business elsewhere. Those regulatory processes can be burdensome, time-consuming and can slow down growth inside the market for companies who have not activated their brand in China.
Having set up in excess of 300 unique brands in the market, the WPIC Marketing + Technologies team understands China’s regulatory processes inside and out- with expertise across industries and in multiple categories. WPIC’s team facilitates seamless market entry and assists brands in realizing revenue and gaining market share as quickly as possible.
ICP License in China
An ICP (or Internet Content Provider) license in China is required by the natiomal Ministry of Industry and Information Technology to allow global firms to operate on China’s digital and e-commerce platforms.
WPIC’s China-based online retail and merchant licenses provide local ICP applications and compliance systems that your brand can utilize as a proxy.
WPIC also takes care of the following:
- Liaising with governing bodies in China efficiently and effectively to reduce red tape in the market
- Application and documentation filings
- License proxy for clients (to operate through WPIC)
- Affidavits for clients to retain country control
- Trademark installation into the market for brand establishment.
A WFOE (or, wholly foreign-owned enterprise) allows companies to incorporate a foreign-owned limited liability company (LLC). With the WFOE in place, brands can pursue growth in China through a new, independent legal personality, without the involvement of an on-the-ground partner. This step maintains margins and ensures that no other third-party acquires a percentage of a company’s revenues.
WPIC takes care of WFOE approval, which includes the following:
- notarized investor documents
- proof of bank credit
- local lease agreements.
- assurance of compliance
What does all this mean? WPIC’s partners know that their ICP license in China is handled effectively, and they can focus on what matters most- driving conversions and growing market share.