3 Fatal Misconceptions in Registering an Import and Export Company

Mr. Zhang was excited to register an import and export company last year, but was blocked by the customs for half a year due to missing one certificate. Ms. Li business scope and paid 10% more tax for nothing. Is it really that complicated to obtain import and export qualifications? Today, we will use a nanny - level breakdown to help you avoid those little - known "deep pits".

Different from the registration of an ordinary company, import and export business requires dual filing:

• Industrial and Commercial Registration Stage: The business scope must include "goods import and export" or "technology import and export". It is recommended to directly check the "import and export agency" option.
• Customs Filing: Within 10 working days after obtaining the business license, registration must be completed on the China International Trade "Single Window".
• Registration with the State Administration of Foreign Exchange: A prerequisite for opening a foreign currency account, a bank account opening certificate needs to be submitted.

Do you think everything is fine once you get the license? These non - standard processes are the real obstacles:

• Electronic Port Card: The legal representative needs to bring the original ID card to the local customs on - site for handling. The card - making period is 7 - 15 days.
• Export Tax Rebate Filing: Before the first declaration, qualification verification needs to be completed at the tax bureau, and a sample purchase and sales contract needs to be submitted.
• Inspection and Quarantine Registration: When special categories such as food and cosmetics are involved, an additional CIQ code needs to be obtained.

Based on the latest 2023 policies, we have extracted 3 golden rules:

• Choosing "import and export" as the industry description increases the approval pass rate by 40% compared to the "trade" category.
• The registered capital is recommended to be filled in as more than 1 million yuan, as some foreign purchasers have hard requirements for this.
• For the first export, it is advisable to choose the "general trade" method, and the certificate of origin can be temporarily exempted from submission.

After reading this, do you feel overwhelmed by the amount of information? In fact, as long as you grasp the "industry - and - commerce - customs - foreign - exchange" iron triangle, you can avoid 90% of the minefields. It is recommended to bookmark this article as a checklist and check item by item during the handling process.

What strange problems have you encountered during the handling process? Welcome to share in the comment section. The top three with the most likes will receive an electronic version of the Import and Export Tax Planning Manual.