The Five Hidden Profits in Applying for the Right to Import and Export

"Mr. Zhang's clothing factory has been engaged in domestic trade for three years. Recently, it has always been inquired by overseas customers, but it could only watch helplessly as orders were missed because it did not have the right to import and export..." Such stories are happening every day. With the explosive growth of cross-border e-commerce and global procurement, the right to import and export goods has long changed from a "bonus item" to a basic pass for enterprises to expand their markets. This article will use the simplest language to break down this seemingly complex but actually standardized application process.

Ms. Li's food processing factory once insisted on using export agency services until she suddenly realized that 15% of the profit of each order was taken away. In fact, having the right to self-operated import and export can not only save intermediate costs, but also:

• Directly participate in international tenders to obtain first-hand orders
• Independently select logistics and settlement channels
• Enjoy policy dividends such as export tax rebates

Stage 1: Adding Items to the Business License (3 - 5 Working Days)
Add the entry of "Import and Export of Goods" or "Import and Export of Technology" to the business scope. Some regions already support online handling. Note that "Import and Export" and "Production and Sales" are different registration items.

Stage 2: Customs Record-filing (1 Working Day)
Submit the following through the "Single Window" of China's International Trade:

• Copy of the business license of the enterprise legal person
• Bank account opening permit
• Copy of the identity card of the legal representative

Stage 3: Registration with the State Administration of Foreign Exchange (Effective Immediately)
Take the customs record-filing receipt to the local foreign exchange bureau to open the permission of the foreign exchange account. This is a crucial step to receive foreign currency payments.

1. Trap of Registered Capital: Although there is no minimum limit requirement by law, some categories (such as medical devices) need to match the registered capital;
2. Cost of Financial Compliance: It is necessary to be equipped with accounting personnel with experience in import and export accounting;
3. Obligation of Annual Inspection: Continuous compliance requirements such as customs annual reports and foreign exchange revenue and expenditure reports.

With the deepening of the RCEP agreement, these changes are worth paying attention to starting from this year:
• The scope of self-service printing of certificates of origin of ASEAN countries has been expanded

• The pilot supervision of cross-border e-commerce B2B exports has been promoted nationwide
• The electronic version of the certificate of goods exported by agency has been fully put into use

Instead of repeatedly hesitating about "whether it is needed now", it is better to complete the basic record-filing first (the total cost is about 2000 yuan). When you suddenly receive an overseas order one day, you will be grateful for this precautionary decision now. Welcome to leave your questions in the comment area. The expert team of Zhongshitong will select typical questions and answer them in detail.