« [previous]What is the minimum investment on part of a foreign investor in a joint venture or solely foreign-funded enterprise? | home |[next]How Do FIEs Set up Branches? »
Do the Customs have any provisions about the administration of FIEs and import and export goods?
Do the Customs have any provisions about the administration of FIEs and import and export goods?
According to the Customs’ Law of PRC and other related laws and regulations, provisions about the administration of FIEs and import and export goods are as below:
(1) Once a FIE is approved to set up, it shall go through registration formalities with the Customs, which include filling in an Registration Form of Application for Customs Clearance and filing the application with the following certificates and documents:
A. Duplicates or copies of certificates of approval for business opening;
B. Duplicates or copies of business licenses issued by the industrial and commercial administrations;
C. Economic guarantees presented by banks (to be submitted if the customs thinks necessary);
D. Other documents related to corporate business activities
The Customs, after examination and approval, will issue a Certificate of Registration for Customs Clearance, and charge handling fees in light with stipulations.
The enterprise that has obtained the Certificate of Registration for Customs Clearance shall, in conformity with the Customs’ requirements, designate personnel to serve as declarants. The Customs will provide training to the declarants, and issue Certificate of Declarants to those passing tests. When handling Customs clearance, a declarant shall take with him/her the Certificate of Declarants.
(2) Raw materials, fuel, parts and components, coordinates, subsidiary materials and packing materials that need to be imported for performance of contracts for product export by FIEs shall be bonded, which the Customs shall supervise in accordance with relevant regulations, and issue the Registration Brochure of the Customs of PRC for Processing and Reexport of Materials and Parts Imported by FIEs for Performance of Contracts for Product Export.
No import licenses are necessary for the above goods, and the Customs will conduct acceptance check on the basis of corporate contracts or import and export contracts.
(3) In handling Customs clearance formalities for import and export, FIEs shall fill out the Customs Clearance Form for Imports (Exports), and attach with it relevant movement of goods documents. With goods falling under the administration of licenses, licenses shall be presented for examination.
(4) According to regulations, consignees of imported goods shall declare to the Customs within 14 days upon declaration of entry into China’s territory of conveyances. Consignors of exported goods shall declare to the Customs 24 hours prior to shipment, except otherwise approve by the Customs.
(5) Imports and exports shall accept the Customs’ checks.
(6) If bonded materials and components imported are used for the production of products for sale on domestic market, enterprises involved shall, in line with State stipulations, go through import procedures later. If the imported goods fall under the management scope of import license, enterprises shall submit import license to the Customs for checks, and repay import tariff and value-added tax for materials and parts imported.
