The business license has two periods:

1. The business period of the business license

The business period is generally marked on the license, 10 years, 20 years or no long-term wait.

2. The annual inspection period of the license,

Before 2014, the industrial and commercial business license of the enterprise was subject to annual inspection for the previous year before June 30 of each year. Failure to do timely annual inspections may result in fines or even license revocation.

In 2014, in accordance with the latest regulations, annual inspections will no longer be implemented. Since 2013, the annual inspection has been changed to a corporate annual report disclosure system. The previous on-site application materials and other forms have been simplified, focusing on corporate integrity, self-discipline, and industrial and commercial supervision, management, and punishment. The deadline is still the end of June every year. For 2013, it can be postponed until June 2014 to complete the annual report publication.

Extended information:

A business license is a certificate issued by the industrial and commercial administration to industrial and commercial enterprises and self-employed individuals 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.

Reference: Baidu Encyclopedia-Business License