Must Small and Medium-sized Enterprises Have the Right to Import and Export for Foreign Trade?

Mr. Zhang has been very distressed recently. The special chili sauce produced by his food processing factory sells well locally, and customers from Southeast Asia have also inquired about the price frequently. However, due to the lack of the right to import and export, he can only watch the orders slip away. In fact, there are quite a number of business owners like Mr. Zhang - 90% of small and medium-sized enterprises don't know that the threshold for applying for the right to import and export is much lower than expected.

Having the right to import and export means that an enterprise can directly participate in international trade and no longer rely on third-party agents. Taking the customers served by Zhongshitong as an example, after Ms. Li's toy factory obtained the right to import and export, the profit of a single order was directly increased by 30%, and she could also independently control the delivery cycle and customer relationships.

• Cost Savings: Save 3-8% of the agency fee for each order
• Efficiency Improvement: The customs declaration time is shortened by more than 50%
• Business Opportunity Expansion: Directly enter platforms such as Amazon International Station

Step 1: Adding Items to the Business License
Add "Import and Export of Goods" or "Import and Export of Technology" to the business scope. The following need to be prepared:

• Shareholders' Resolution
• Amendment to the Articles of Association
• Application for Change of Registration

• Copy of the Business License of the Enterprise Legal Person
• Bank Account Opening Permit
• Organization Code Certificate (Exempted for enterprises with the integration of three certificates)

Step 4: Application for the Electronic Port Card
This device, which looks like a U-shield, is the core tool for subsequent customs declaration and tax refund. The legal representative must be present in person when handling it.

Step 5: Record-filing for Export Tax Refund with the Tax Bureau
Only after completing the record-filing can the enterprise enjoy an export tax refund rate ranging from 5% to 13%.

1. Omission of the Annual Customs Report: The annual report of the registered information of the customs declaration unit needs to be submitted before June 30th each year. Late submission will affect the credit rating.

2. Error in the Declaration of Foreign Exchange Receipts and Payments: Cross-border receipts need to complete the declaration of international balance of payments through the bank within 5 working days.

3. Chaos in Document Management: Documents such as contracts, invoices, and packing lists need to be preserved for at least 5 years.

With the progress of agreements such as RCEP, the Southeast Asian market is growing explosively. The latest data of Zhongshitong shows that the number of enterprises with independent exports increased by 67% year-on-year in 2023. Is your enterprise ready to catch this express train?

You may leave your questions in the comment section or share your experience of applying for the right to import and export. For the three questions with the most likes, we will invite foreign trade experts to provide detailed answers.