Angelo Robert Santamaria, a resident of the Boston, Massachusetts area, is a manufacturing professional who has held executive positions with firms in the energy, technology, and semiconductor industries, among others. Most recently, Angelo R. Santamaria served as the vice president of global manufacturing for Oasys Water, where he led strategic initiatives that included the establishment of a wholly foreign-owned entity (WFOE).
Also known as a Wholly Foreign Owned Enterprise, a WFOE refers to enterprises in China that are 100 percent owned by foreign investors. WFOEs are structured as limited liability companies, and are commonly used as a means of introducing manufacturing activities, technologies, services, and software into the Chinese market.
Depending on their scope, WFOEs are typically categorized as manufacturing, consulting, or trading enterprises. Regardless of the type, all offer benefits that include:
- Operational flexibility without the need for Chinese investors.
- The ability to conduct business operations and transactions using Chinese currency and convert profits into US dollars.
- Fewer requirements for manufacturing imports and exports.
- Enhanced protection of proprietary knowledge, since there is no need for a Chinese partner.
- Control over business units that include operations, human resources, and management.
