My company has just started the agency import business and is completely unfamiliar with the declaration process in this regard. What materials do I need to prepare exactly? Through what channels should I declare? Are there any special points to note? I hope that friends who know the ropes can explain in detail. Thank you!
It is said that someone has just started the entrepot trade business and doesn't know how to receive payments in China, worrying about affecting the capital flow and trade process. The best answer points out that common payment methods include opening a foreign currency account through a domestic bank, which is simple and safe to operate, but the review standards of each bank are different; an offshore account can also be used, which has strong flexibility, but attention should be paid to its maintenance; third - party payment platforms can also be used, but the handling fees may be high, and compliance should be noted in all cases, and trade documents should be retained.
Planning to engage in foreign trade export business and want to know the common names for export agents, wondering if they are called foreign trade agents, etc. The best answer points out that export agents are commonly referred to as foreign trade agents, import-export agents, freight forwarders, trade agents, etc. Different names emphasize different aspects of the business. The key to finding an agent lies in whether their business capabilities, reputation, and services align with your needs.
I'm puzzled that I can import directly, but why do many enterprises around me choose to find an import agency company? The best answer points out that choosing an import agency company is because of its rich professional knowledge and experience, familiarity with import policies, regulations and procedures; wide range of resources, obtaining preferential logistics prices; cost and time savings; strong risk control ability to effectively deal with risks such as exchange rate fluctuations.
Having doubts about entrepot trade and asking if this trading method is ethical and whether there will be improper operations. The best answer points out that entrepot trade itself is not unethical. It provides development opportunities for some regions. However, if enterprises use it to evade taxes, circumvent barriers and other illegal operations, it is unethical and illegal. As long as it follows laws and business ethics norms, entrepot trade is normal and beneficial.
I'm planning to engage in foreign trade business but am confused about the concepts of agency and export. I want to know the difference between them. The best answer states that in terms of operational entities, export refers to a company handling the entire foreign trade process independently, while agency involves delegating to an agency company. Regarding responsibilities and rights, export companies bear all risks and reap all profits, whereas agency arrangements involve negotiated risk-sharing and profit distribution between both parties, with Zhongshitong's export agency services cited as an example.
Our company plans to find an export agency. We are confused about who should collect the foreign exchange fees in export agency, the consignor or the agent. The best answer points out that generally, the foreign exchange is first transferred to the agent's account. The agent handles export affairs, copes with foreign exchange risks, and complies with regulatory requirements. After deducting the fees, the remaining amount will be paid to the consignor. Of course, it can also be negotiated in the agreement that the consignor directly receives the foreign exchange.
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Professional consultant answers
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
The declaration of agency import business is mainly carried out in the following steps:
First of all, you need to prepare relevant materials, such as the agency import agreement, invoices, packing lists, bills of lading of the imported goods, etc. These documents that can prove the situation of the goods and the agency relationship are very important.
Next, you need to determine the declaration channel. Generally, it is declared through the customs' electronic port system. Your company must first complete the relevant registration and obtain the declaration authority.
When declaring, fill in the customs declaration form accurately. The content includes information such as the name, specifications, quantity, and value of the goods. Be sure to ensure that it is true and accurate, otherwise it may affect the customs clearance efficiency or even lead to inspections, etc.
It should be noted that in the agency import business, it is necessary to clarify whether the declaration entity is the agent or the principal. The handling methods are different in different situations. For example, if it is declared in the name of the agent, the agent has to bear the corresponding customs legal responsibilities. Therefore, the appropriate declaration method should be determined according to the actual business arrangements.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
When declaring the agency import business, pay attention to the declaration time. The declaration must be completed within the specified time limit, otherwise you may face fines, etc.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Remember to accurately classify the imported goods. This is related to the determination of the tariff rate, etc. Don't make mistakes.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
If there are special goods, such as those subject to license management, you need to obtain the relevant licenses in advance to declare smoothly.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
After the declaration is completed, pay attention to the customs' review feedback. Deal with and modify any problems in a timely manner to ensure smooth customs clearance.