Setting up a consulting WFOE is a relatively straightforward process and such entities are much quicker to set up as compared to a Decree No. 113 or Decree No. 114 entity. Local approvals in many parts of Beijing, for example, are now down to five working days t for the initial approval reply. The establishment of a consulting WFOE only requires the project management or engineering contractor approval of the competent MOFCOM and the registered capital requirements are far lower than those of Decree No. 113 or even of a Decree No. 114 WFOE.
