It is bewildering why NET should spend $2.6 million on acquiring a Wholly Foreign Owned Enterprise in China for $2.6 million. Does anyone have any background information on this company? When it was established, annual turnover, staff numbers, assets and so forth?
Estimates on how to set up a Wholly Foreign Owned Enterprise in China vary but it is relatively easy to do.
Reference: https://en.wikipedia.org/wiki/Wholly_foreign-owned_enterprise
IT IS CHEAP
Legal CostsUSD10,000 to USD12,000 OR USD3,000 to USD5,000 depending on company beign set up.
Reference: https://www.hg.org/legal-articles/benefits-and-costs-of-setting-up-a-wholly-foreign-owned-enterprise-wfoe-china-7499
EASY TO DO
Reference: https://corporationchina.com/wholly-foreign-owned-enterprise/
So why did it cost $2.6 million? Who was the ultimate beneficiary? Can anyone help answer these questions?
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