Yiwu is the only pilot city in China for comprehensive financial reform of international trade. In 214, the state withdrew from the interest-oriented policy for the development of international trading enterprises, soho and cross-border e-commerce.

The policy of large-scale foreign exchange collection and settlement by self-employed individuals in Yiwu was implemented in Yiwu at this time, which helped thousands of friends doing cross-border e-commerce and international trade to solve the problems of strict foreign exchange control and difficult foreign exchange collection and settlement.

Advantages of foreign exchange collection and settlement of individual businesses in Yiwu:

1. There is no limit of 5, dollars per year for individuals to settle foreign exchange. As long as it is a formal foreign trade industry, large amounts of foreign exchange can be collected and settled.

2.? Exemption from the refund policy, registering a license is only used to handle foreign exchange settlement accounts, and there is no need to do accounting and tax returns.

3.? Paypal account, offshore account's foreign currency can be settled through Yiwu self-employed account. Simple operation.

4.? The handling fee is cheap, less than one ten thousandth.

Process of opening this Yiwu self-employed foreign exchange collection and settlement account:

First, you must have a Yiwu self-employed business license, because only Yiwu self-employed people can go to the bank to open this foreign exchange collection and settlement account. There are generally two stages: 1. industrial and commercial registration (usually 3-5 working days) 2. Booking a bank account (specific to the booking time)

Detailed process: providing information → signing a contract for payment → submitting to the industrial and commercial department for registration →3-5 working days → booking a bank account. If it goes well, registration and account opening can be done within one week.

disadvantages of Yiwu self-employed account:

Foreign currency transfer-self-employed individuals can receive foreign currency but can't withdraw foreign currency, and the transfer can only be turned positive after the settlement of foreign exchange is converted into RMB

The account name is pinyin of the legal person's name, (the self-employed person's head can also be displayed as required)

Post-maintenance of Yiwu self-employed account

Just make an annual review of Yiwu self-employed business license before June every year. There are no other formalities.