Definition
Fapiao is an official invoice in China, used for tax and regulatory compliance purposes. This invoice is issued by the Chinese tax authorities and must be issued for every legal commercial transaction conducted in the country. Fapiao is necessary for VAT deduction and is essential for establishing the legality of business operations in China.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.