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WHOLLY OWNED FOREIGN ENTERPRISE
A Wholly Owned Foreign Enterprise (WOFE) is a limited liability company registered with only foreign capital under the Chinese company law. The investing party could be corporations, economic organizations or individuals.
Same as other types of business registration in China, each WOFE is restricted in a certain business scope (e.g. consulting, manufacturing, trading, etc). Within its business scope, the WOFE can have normal business activities of buying materials, processing them and selling the final products to local or overseas clients. Profits of the company can be repatriated to the investors’ home country.