What is the cancellation procedure of a wholly-owned subsidiary?

1. What is the cancellation procedure of the wholly-owned subsidiary? According to the relevant provisions of China's company law, wholly-owned subsidiaries and parent companies are two completely independent legal persons, so the cancellation process of wholly-owned subsidiaries is the same as that of ordinary companies. The specific process is as follows: 1. The shareholders' meeting made a resolution of dissolution and set up a liquidation group for liquidation; 2. After the liquidation, apply to the administrative department for industry and commerce for cancellation of registration; 3. After cancellation of registration, you need to go to the bank to cancel the relevant bank account. 2. What is the relationship between the subsidiary and the parent company? 1. The subsidiary is actually controlled by the parent company. The so-called actual control means that the parent company has the actual decision-making power over all major matters of the subsidiary, especially the composition of the board of directors of the subsidiary. The parent company may appoint multiple directors of the board of directors by exercising its power without the consent of others. Although some trust institutions own a large number of shares in the company, they do not participate in the actual control of the company's affairs, so they do not belong to the parent company. 2. The control relationship between parent company and subsidiary company is based on the ownership of equity or control agreement. According to the majority voting principle of the shareholders' meeting, the more shares you own, the more you can get the decision-making power on the company's affairs. Therefore, if a company owns more than 50% of the shares of another company, it is bound to be able to control the company. But in fact, due to the dispersion of shares, as long as you own more than a certain proportion of shares, you can obtain the majority voting rights at the shareholders' meeting and obtain the controlling position. In addition to share control, the relationship between parent company and subsidiary company can also be formed by concluding some special contracts or agreements to make one company under the control of another company. 3. What materials are needed to set up a wholly-owned subsidiary? 1, application for registration of enterprise establishment, application for registration of enterprise establishment, list of investors, registration form of person in charge of enterprise, certificate of business premises, etc. 2 name pre-approval application and enterprise name pre-approval notice; 3. Letter of appointment (power of attorney); 4. Capital contribution certificate of the head office; 5. The company shall provide a copy of the temporary residence permit for the post-holding documents of the person in charge of the branch, if the person in charge is not local; 6. A copy of the Business License of Enterprise as a Legal Person stamped with the official seal of the company; 7. A copy of the articles of association of the head office (which shall be reported to the company registration authority for the record and stamped with the diamond seal of the registration authority); 8. Documents certifying the amount of funds allocated by the company to its branches; 9. If the business scope involves pre-approved projects, the approval documents of relevant examination and approval departments shall be submitted. To sum up, many large companies often set up wholly-owned subsidiaries when they compete in other fields. All these subsidiaries are funded by the parent company, which bears limited liability. If it is necessary to cancel the subsidiary due to poor management or strategic adjustment, the shareholders' meeting of the parent company will form a resolution, then the assets and liabilities of the subsidiary will be liquidated, and finally the cancellation registration will be handled at the Industrial and Commercial Bureau.