A business license is a certificate issued by the industrial and commercial administration to industrial and commercial enterprises and individual traders allowing them to engage in certain production and business activities. Its format is uniformly stipulated by the State Administration for Industry and Commerce. The registration matters are: name, address, person in charge, amount of funds, economic composition, business scope, business method, number of employees, business period, etc. The business license is divided into original and duplicate, both of which have the same legal effect. The original copy shall be placed in a conspicuous place at the company's residence or business premises, and the business license shall not be forged, altered, rented, lent or transferred. Industrial and commercial enterprises or self-employed individuals without a business license are not allowed to open their business. They are not allowed to engrave official seals, sign contracts, register trademarks, or publish advertisements. They are not allowed to open bank accounts.

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Business licenses do not need to be reviewed annually. The country has canceled the annual review of business licenses. According to the Regulations on the Administration of Individual Industrial and Commercial Households, individual industrial and commercial households shall submit annual reports to the registration authority from January 1 to June 30 each year.

Legal basis

Article 14 of the "Regulations on the Administration of Individual Industrial and Commercial Households"

Individual industrial and commercial households shall, from January 1 to June 30 of each year, Submit annual reports to the registration authority.

Individual industrial and commercial households shall be responsible for the authenticity and legality of their annual reports.

The annual reporting measures for individual industrial and commercial households shall be formulated by the industrial and commercial administration department of the State Council.

Article 15

The registration authority will include individual industrial and commercial households that fail to perform annual reporting obligations in accordance with regulations into the directory of abnormal business operations, and disclose them to the public on the enterprise credit information publicity system.