China is the second-largest economy and the largest manufacturer in the world. It makes 28% of the world’s total manufacturing output. This makes the Chinese market one of the biggest attractions for international entrepreneurs. Regardless of the promising stats, cross-border businesses have never been easy. Doing cross-border business comes with its own set of challenges.
It’s very essential to conduct due-diligence of foreign companies to assess their credibility. These background checks may become quite difficult to perform. Especially if your company has never partnered within the Chinese market before.
So, our team at Verifyfull takes care of these challenges so you don’t have to!
Innovative Chinese firms continue to expand to foreign markets. Redefining the demands of consumers and developing new experiences and innovations. They make large investments in the design and production of new goods and services. Across global supply chains, looking to please the demands of savvy consumers. In a growing number of markets.
We are one of the best third-party verification service providers. We started our company in 2010 and currently, we are serving 38 countries worldwide. We are a Beijing- based company and have a team of top-notch experts from the industry. Our team of skilled professionals has provided services to clients from 120+ countries.
Our services include checking the credibility and genuineness of the company. We verify the legal status of Chinese companies. Our verification services. Those reserved for Chinese companies registered in Mainland China and Hong Kong.
We help you check the genuineness of a company via a simple 3-step process:
- Choose a plan that suits your needs
- Pay online for the service
- Receive the report by email
We also provide a full refund if you register a complaint within three days of receiving your report.
Following is a brief overview of our key verification areas:
All sorts of businesses and companies come with some percentage of inherent risk. The basic idea behind our “Risk Assessment” is to determine. Whether your partner Chinese company has its risk stats within an acceptable range. The acceptable range is subjective and may vary from company to company.
We identify and assess threats among key Chinese corporate partners. This gives you a holistic picture of the company’s risk you are planning to start a business with.
Companies want their partners to have a verified legal status. Before starting a venture, they want some insights related to the partner company. All businesses running in China must get themselves registered. Using the Unified Social Credit Code. We verify the genuineness of their registration.
Further, getting to know the partner company’s date of establishment. Its legal representative, registered address, and the expiry date of the business license. They all are very essential. We, at Verifyfull, consider all these checkpoints and more during our verification process.
Once we hit all necessary checkpoints. We make a comprehensive report of the company’s profile. This report can help you screen the company from all important aspects. We conduct confidential desktop research to assess the company. In the process, we do not contact the company under consideration. We also do not hold any of your information.
For the ease of our customers, we also provide them a sample report. The sample report shows the efficiency of our verification system. It also helps companies decide whether they should use our services.
We offer four types of detailed verification reports:
Priced at 98 USD, this plan serves all your basic verification needs!
Our Standard Chinese Company Verification Report covers the following areas :
Company Registration Information, including registration status and license expiry date. It also includes details of their supervisor. Registered capital, and the year of most recent annual return.
Chinese Customs Registration Details
It gives a comprehensive insight into the company’s industry type and credit rating. Further, checking the company’s applicable trade area helps to understand. That which domains are acceptable to trade-in. For the Chinese company under verification.
Reputational and Legal Checks
These are the best way to determine the marketability of a company. If a company goes into business with a Chinese company. That has a good brand image, the future prospects of sales become much higher. But, if the company has suffered administrative penalties. Which referred to litigation or law enforcement agencies. this makes for a weak case for the company under consideration. We make sure to search for any reputational risk that may be associate with the Chinese Company.
Company Shareholders check
It gives a clear understanding of the major stakeholders. Of the Chinese Company that you plan to partner with.
Customs and International Trade
This includes scrutiny of the debt status of the Chinese company. We check their creditor’s name, type of debt, and the guarantee period. When starting a business with another company. It’s very essential to know their financials. This check depicts the financial health of the company so you can assess whether you can partner with it.
With our top-of-the-line research, your organization can get an easy entry into the cross-border business. Regardless of the nature of your business, you can contact us and we’ll do the homework for you.
Having a detailed report for a certain company gives you:
- A clear understanding of the legitimacy of that company
- Its financial stats to assess future profitability
- An idea of their business network and footprint
- A true picture of their legal status in their home country
- An understanding of how much your company should invest with them
In Southeast Asia alone, the internet economy. For the region of 570 million people off the southeastern coast of China. Is expected to more than triple to $300 billion in gross merchandise value by 2025. According to an “e-Conomy SEA 2019” report from Google, Temasek and Bain – Reference CNBC.
The estimate has accelerated demand for online shopping. Due to widespread coronavirus, since quarantine order, as compared to before pandemic.
Payoneer saw sales triple from a year earlier in May and June. Which is a cross-border financial payments portal, general manager Eyal Moldovan said.
In March, Alibaba’s Taobao e-commerce website released a “Limited Version”. Concentrating on factories, several of whose commercial orders. According to Alibaba’s logistics arm, Cainiao has postponed or canceled. As a consequence of the virus’s spread globally. By an initial call for export-oriented companies. It attracted 300,000 Chinese factories and 110 million orders. The firm stated. As of July 2020, at least 1.2 million factories reached the platform for trading. With sales growing sixfold between June and July, according to Cainiao. By these logistics and stats, we can understand the Chinese market’s value in the whole world. Even during the pandemic, where all the markets had faced loss in their businesses.
This is an elaborated version of our standard verification report. Besides checking Company Registration Information, Customs & International Trade record. This report also provides a detailed review of Ownership charts. And Site identification of the Chinese company.
By having our local Chinese company on-board for Site Inspection. You get the advantage of first-hand information of your prospective Chinese partner company. We provide their site map and images in our report. We also check their registered address and their submitted address. So you can cross-check. The ownership feature of this report highlights the shareholding percentages of the shareholders. It also checks whether they are foreign nationals or Chinese. And all relevant details about them.
This report includes a very detailed registration review. Besides having features of the Pro Chinese Company Verification report. This report includes two more features. Subsidiaries & Branches information plus Annual Return of the Chinese Company.
The detailed information of subsidiaries and branches. Shows the company’s network of business. It can also show the risks of exposing that company to its subsidiaries and various branches if any.
All successful businesses tend to keep a close eye on their partners. And this report exactly does the job!
- With our experts at Verifyfull, you can verify a:
- Chinese Business License
- China Foreign Trade Registration Certificate
- China Trademark Registration Certificate
- China ISO 9001, 45001, 14001, and OHSAS 18001 Certificate.
We do a detailed review of the certificate you choose to get verified. Our report includes 10+ major checkpoints. From the ID number to Legal representatives, we find it all.
With the global economic challenges due to the Pandemic. All types of businesses have suffered a blow. This also means that businesses, especially retail businesses have adopted e-commerce. With e-commerce giants such as Amazon and Alibaba. Businesses have changed their dynamics and are penetrating into international markets. When a business decides to cross a border. Either for selling or for partnering up with a foreign company. It requires a detailed assessment of the other company to build trust. It also needs to look into the other company’s key stats to decide how profitable the venture may turn out for them.