- Foreign natural persons can invest in China directly: the Foreign Investment Law explicitly covers individuals, and a foreign-owned LLC founded by one person is registered just like a domestic company, with a “foreign-invested” annotation.
外国自然人可以直接在华投资：《外商投资法》明确将个人列为外国投资者，一人设立的外资有限公司按内资企业类型登记，仅加注”外商投资”。- The key extra step for individuals is identity documentation — a notarised and legalised (or apostilled) passport, unless the investor is physically in China and presents a passport with a valid visa and entry stamp, or holds a PRC foreign permanent resident ID card.
个人投资者的核心额外环节是身份证明：护照须经公证认证（或加签《取消外国公文书认证要求的公约》附加证明书）；本人已入境并持有效签证及入境记录的护照、或持外国人永久居留身份证的，可免公证。- Since China joined the Apostille Convention in November 2023, investors from member states replace consular legalisation with a single apostille certificate, cutting document preparation from weeks to days.
2023 年 11 月《取消外国公文书认证要求的公约》对中国生效后，缔约国投资者以一份附加证明书取代领事认证，文件准备周期从数周缩短到数日。- Registration also requires a Power of Attorney for Service of Legal Documents naming an onshore recipient — this can be the new company itself once established.
设立登记还须提交《法律文件送达授权委托书》，指定境内送达接受人——可以指定拟设立的公司本身（设立后生效）。- Registered capital can be stated in RMB or any freely convertible currency, and under the 2024 Company Law it must be fully paid in within five years of establishment.
注册资本可用人民币或可自由兑换外币表示；按 2024 年施行的新《公司法》，须自成立起五年内实缴到位。- Individual foreign shareholders face the same negative-list screening and information-reporting duties as corporate investors, but enjoy identical national treatment outside the list.
外国个人股东与机构投资者同样适用负面清单审查和外商投资信息报告义务，但在清单之外同享国民待遇。
Setting up a China company as a foreign individual: the personal-investor route | 外国自然人直接在华设立公司：个人投资者路径
Overview
Most guides to China market entry assume the investor is a company. Yet the Foreign Investment Law (FIL), in force since 1 January 2020, defines a “foreign investor” as any foreign natural person, enterprise or other organisation — meaning an individual entrepreneur, freelancer or angel investor can hold shares in a Chinese limited liability company directly, without first incorporating an offshore holding vehicle. For small founders, consultants converting a client base into a local entity, or families formalising a China business, the personal-investor route saves an entire layer of offshore cost and maintenance.
This article explains who qualifies, the identity-document rules that differ from the corporate route, how the Apostille Convention has simplified paperwork, the registration steps at the State Administration for Market Regulation (SAMR) system, and the trade-offs between investing as an individual versus through a holding company. It is general information, not legal advice; confirm specifics with the local registration authority and qualified PRC counsel.
Who can invest as an individual
Under FIL Article 2, foreign investment includes a foreign investor “individually or jointly with other investors” establishing a foreign-invested enterprise (FIE) in China. There is no minimum-wealth or residency test in the national rules. The practical categories are:
- Foreign passport holders — the standard case, including founders who have never lived in China.
- Holders of the PRC foreign permanent resident ID card — their card serves as identity proof and no notarisation is needed at all.
- Overseas Chinese citizens (华侨) settled abroad — may register with their PRC passport and can complete identity checks through the national real-name verification system.
- Residents of Hong Kong, Macao and Taiwan (all regions of China) — treated under parallel rules: permanent resident ID cards, home-return permits or residence permits are accepted, generally without notarisation.
Sectoral limits still apply: the investment must fall outside the Special Administrative Measures for Foreign Investment Access (the negative list), or comply with its conditions. A single foreign individual can establish a one-person LLC; two or more individuals (or a mix of individuals and companies, foreign and Chinese) can form a multi-member LLC — a genuinely useful structure for founder-plus-local-partner ventures.
The identity-document rules: where individuals differ
For corporate investors, the subject-qualification document is a certificate of incorporation, notarised and legalised. For individuals, SAMR’s implementing notice on FIE registration sets out a clearer, more forgiving menu:
- Default rule. The passport (or other identity document) must be notarised by a notary in the investor’s home country and authenticated. Since the Apostille Convention took effect for China on 7 November 2023, documents from the 120-plus member states need only a local notarisation plus an apostille certificate from the competent authority — consular legalisation at a Chinese embassy is no longer required. For non-member states the old chain applies: home-country notarisation, then authentication by the Chinese embassy or consulate there.
- In-China shortcut. If the individual investor has already entered China, several local registration authorities accept the original passport bearing a valid Chinese visa and the entry stamp confirmed by border inspection — with no notarisation and, in many cities, no translation of the passport itself. This is the fastest route for founders already on the ground.
- Permanent resident card. An investor presenting the PRC foreign permanent resident ID card is exempt from notarisation entirely.
- Translations. Any foreign-language notarial documents must be submitted together with an accurate Chinese translation; registration bureaus publish translation-format requirements.
Service-of-process authorisation
Every FIE establishment application must include a Power of Attorney for Service of Legal Documents signed between the foreign investor (as principal) and an onshore recipient. The recipient may be a branch the investor already has in China, another onshore entity or individual — or, most conveniently, the company being established itself, in which case the authorisation takes effect upon incorporation. If the recipient or its details later change, the investor simply files an update form with the registration authority.
Registration mechanics and corporate form
Since the FIL abolished the old case-by-case approval regime, an FIE founded by an individual is registered through the same SAMR online channels as a domestic company:
- Company type. Registered as a “limited liability company” or “company limited by shares” under the Company Law, annotated as foreign-invested. A one-person foreign-owned LLC is expressly permitted.
- Registered capital. May be denominated in RMB or any freely convertible foreign currency; conversion uses the People’s Bank of China central parity rate on the payment date. The 2024 Company Law requires full payment within five years of establishment, so size the figure realistically.
- Name, scope, address, officers. Same rules as domestic companies: one legal representative, at least one supervisor or an audit-committee alternative under the new Company Law, a real registered address, and a business scope drafted around actual activities.
- Information reporting. Under FIL Article 34, the investor reports investment information through the enterprise registration and credit-publicity systems at establishment and annually thereafter; failure to report can bring fines of ¥100,000–500,000.
- Real-name verification. Individual investors and appointed officers complete facial/ID verification through the national enterprise registration identity system, which foreign passports may need to complete at the counter in some cities.
After the business licence is issued, the usual post-registration chain follows: company seals, tax registration and invoice types, a basic RMB account and an FDI capital account at a bank (which handles the foreign-exchange registration under State Administration of Foreign Exchange rules), social insurance registration once staff are hired, and industry licences where applicable.
Individual versus offshore holding company
The personal route is not always the best route. Weigh the trade-offs:
- Simplicity and cost. Direct individual ownership avoids incorporating and maintaining a BVI/HK/Singapore holding company. For a small consultancy or trading WFOE this can save meaningful annual cost.
- Exit flexibility. Selling equity held personally triggers PRC withholding on the gain and a change-of-shareholder filing; selling an offshore holding company can be executed offshore (though indirect-transfer tax rules may still reach it). Investors planning to bring in venture capital usually prefer a holding structure.
- Dividends. Dividends paid to a foreign individual from an FIE are currently exempt from individual income tax under long-standing rules, whereas dividends to a foreign corporate parent bear 10% withholding (treaty rates may reduce). This is a genuine advantage of the personal route for owner-managed businesses — verify current policy before relying on it.
- Succession and estate planning. Personal shareholding passes through inheritance procedures requiring notarised foreign documents; a holding company simplifies this.
- Privacy. Individual shareholders appear by name in the public enterprise credit system.
What to do next
- Check the current negative list to confirm the sector is open to foreign investment without conditions you cannot meet.
- Decide individual versus holding-company ownership with tax and exit plans in mind — restructuring later is possible but costly.
- Prepare identity documents early: apostille timelines vary by country; if you will be in China, plan to use the in-person passport route.
- Draft the articles of association around the five-year capital-contribution deadline and realistic capital needs.
- Sign the service-of-process authorisation naming the new company as recipient to keep things simple.
- After licensing, complete banking, FX registration, tax setup and the initial foreign-investment information report without delay.
Sources
- Foreign Investment Law of the PRC (full text, MOFCOM): https://kz.mofcom.gov.cn/zytz/art/2019/art_048696c4540049f88fa8688498711bd4.html
- SAMR Notice on FIE registration under the Foreign Investment Law (official PDF): https://www.samr.gov.cn/cms_files/filemanager/1647978232/attach/20239/fcf1b9736bc94726975ed56b38c0b2ab.pdf
- Guilin municipal government service guide: FIE establishment registration (materials and conditions): https://www.guilin.gov.cn/ggfw/ztrdtj/wstzqysldjbl/
- Foshan (Shunde) registration guide including Apostille Convention practice and in-China passport shortcut: https://www.foshan.gov.cn/zsk?kCode=BSD00001464
Related reading
- WFOE vs representative office vs joint venture — 外商独资、代表处与合资的架构选择
- Registered capital under the new Company Law — 新公司法下的注册资本
- Annual reporting and business-information publicity for FIEs — 外商投资企业年度报告与信息公示
外国自然人直接在华设立公司：个人投资者路径
概述
多数中国市场准入指南都默认投资者是一家公司。但自 2020 年 1 月 1 日施行的《外商投资法》明确规定，”外国投资者”包括外国的自然人、企业或其他组织——这意味着个人创业者、自由职业者或天使投资人可以直接持有中国有限责任公司的股权，无需先在境外搭一层控股公司。对小型创始人、想把客户资源落地为本地实体的顾问，或希望把家族生意正规化的家庭而言，个人投资者路径省去了整整一层离岸成本与维护负担。
本文说明谁有资格、个人与机构路径在身份文件上的差异、《取消外国公文书认证要求的公约》（海牙认证公约）带来的简化、市场监管部门的登记流程，以及”个人直接持股”与”离岸控股”两种方式的利弊取舍。本文为一般性信息，非法律意见；具体事项请与当地登记机关和执业律师确认。
谁可以以个人身份投资
依据《外商投资法》第二条，外商投资包括外国投资者”单独或者与其他投资者共同”在中国境内设立外商投资企业。国家层面没有最低财富或居住要求。实践中的主要类别包括：
- 外国护照持有人——最常见的情形，包括从未在华居住的创始人；
- 持外国人永久居留身份证者——该证件即可作为身份证明，完全无需公证；
- 定居国外的中国公民（华侨）——可凭中国护照登记，并通过全国实名验证系统完成核验；
- 中国香港、中国澳门、中国台湾地区投资者——适用专项规定：永久性居民身份证、回乡证/通行证或居住证均可作为身份证明，一般无需公证。
行业限制依然适用：投资须位于外商投资准入负面清单之外，或符合清单规定的条件。一名外国自然人可设立一人有限公司；两名以上个人（或个人与公司、外资与中资混合）可设立多股东有限公司——这对”创始人+本地合伙人”的组合非常实用。
身份文件规则：个人路径的不同之处
机构投资者的主体资格文件是经公证认证的注册证书；个人投资者则适用市场监管总局登记通知中更清晰、更宽松的选项：
- 默认规则。 护照（或其他身份证件）须经所在国公证机关公证并认证。自 2023 年 11 月 7 日《取消外国公文书认证要求的公约》对中国生效后，120 多个缔约国的文件只需”当地公证＋主管机关附加证明书（apostille）”，不再需要中国使领馆领事认证；非缔约国仍沿用”公证＋中国驻该国使领馆认证”的旧链条。
- 已入境捷径。 若个人投资者已经入境，多地登记机关接受”经中国使领馆签证并有入境记录的护照原件”，无需公证，部分城市连护照翻译件都免了。这是已在中国的创始人最快的路径。
- 永居卡。 提交外国人永久居留身份证的，完全免公证。
- 翻译件。 外文公证文书须同时提交准确的中文翻译件，登记机关公布有翻译格式要求。
法律文件送达授权
每份外资企业设立申请都必须提交外国投资者（授权人）与境内送达接受人（被授权人）签署的《法律文件送达授权委托书》。被授权人可以是投资者在华已有分支机构、其他境内单位或个人——最方便的是指定拟设立的公司本身，公司成立后委托即生效。被授权人或其名称、地址变更的，填表更新即可。
登记流程与公司形式
《外商投资法》取消逐案审批后，个人设立的外资企业与内资公司走同一套市场监管在线登记：
- 企业类型。 按《公司法》登记为”有限责任公司”或”股份有限公司”，标注外商投资；明确允许外国自然人设立一人有限公司。
- 注册资本。 可用人民币或可自由兑换外币表示，折算按缴款当日人民银行汇率中间价。2024 年施行的新《公司法》要求自成立起五年内实缴到位，因此金额要务实。
- 名称、经营范围、住所、人员。 与内资一致：一名法定代表人、按新公司法设监事或审计委员会替代、真实注册地址、按实际业务拟定经营范围。
- 信息报告。 依《外商投资法》第三十四条，通过企业登记系统和信用信息公示系统报送投资信息（设立报告＋年度报告）；逾期不报可处 10 万–50 万元罚款。
- 实名验证。 个人投资者与任职人员通过全国企业登记身份管理实名验证系统完成人脸/证件核验，外国护照在部分城市需柜面办理。
领取营业执照后是常规后续链条：刻章、税务登记与发票核定、银行基本户与 FDI 资本金账户（由银行按外汇局规定办理外汇登记）、雇人后的社保登记，以及需要的行业许可。
个人持股 vs 离岸控股
个人路径并非永远最优，需权衡：
- 简单与成本。 直接个人持股省去设立并维护 BVI/香港/新加坡控股公司的开支，对小型咨询或贸易公司相当可观。
- 退出灵活性。 个人转让股权需在华缴纳所得税并办股东变更；出售离岸控股公司可在境外交割（但间接转让税规则仍可能穿透）。计划引入风投的通常选控股结构。
- 分红。 依长期有效的规定，外籍个人从外资企业取得的股息目前免征个人所得税；而境外公司股东分红需缴 10% 预提税（协定可降低）。这是个人路径对自营业主的实际优势——使用前请核实政策现状。
- 继承与传承。 个人持股的继承需办理涉外公证文件；控股公司结构更简便。
- 隐私。 个人股东姓名会在企业信用公示系统公开。
下一步建议
- 核对现行负面清单，确认行业开放且无无法满足的条件；
- 结合税务与退出计划确定个人持股或控股结构——事后重组可行但成本高；
- 尽早准备身份文件：各国附加证明书办理周期不同；若将入境，可计划使用护照免公证捷径；
- 围绕五年实缴期限与真实资金需求起草公司章程；
- 签署送达授权委托书并指定新公司为被授权人，保持简单；
- 领照后尽快完成银行、外汇登记、税务及首次外商投资信息报告。
Sources
- 《中华人民共和国外商投资法》全文（商务部）：https://kz.mofcom.gov.cn/zytz/art/2019/art_048696c4540049f88fa8688498711bd4.html
- 市场监管总局关于贯彻落实《外商投资法》做好外商投资企业登记注册工作的通知（官方 PDF）：https://www.samr.gov.cn/cms_files/filemanager/1647978232/attach/20239/fcf1b9736bc94726975ed56b38c0b2ab.pdf
- 桂林市政府服务指南：外商投资企业设立登记办理：https://www.guilin.gov.cn/ggfw/ztrdtj/wstzqysldjbl/
- 佛山（顺德）外商投资公司设立登记指南（含海牙公约实务与入境护照捷径）：https://www.foshan.gov.cn/zsk?kCode=BSD00001464
相关阅读
- 外商独资、代表处与合资的架构选择 / WFOE vs RO vs JV
- 新公司法下的注册资本 / Registered capital under the new Company Law
- 外商投资企业年度报告与信息公示 / FIE annual reporting & publicity