Why are there no restrictions on settlement of USD for registered Yiwu individuals? Is there any benefit? How much does it cost? Is there a settlement service fee?

Hello, first of all, the local settlement policy for foreign exchange settlement in Yiwu, which is basically used for foreign exchange settlement, is very beneficial to foreign trade enterprises.
In addition, this policy is available only in Yiwu. Therefore, many foreign companies are registering their personal accounts in Yiwu to enjoy this policy. There is no restriction on US dollar settlement and no service fee is required.

Let me briefly introduce it.

First, you need to provide a scanned copy of the front and back of the ×××, and then a colored electronic photo of the upper half.

The business scope and name of the individual (based on their own business, it doesn't matter because we only need to use his account)

About 6 business days,

After the individual receives the license, they can go to the bank to apply for an account,

The bank will open two accounts:

One is used to collect foreign currency (Public Accounts can add Limited)

One is a private debit card that collects RMB after settlement (just like a private debit card we opened). This is a general process.

Procedure for registering an individual in Yiwu:
1. documents and certificates to be submitted for pre-registration of individual industrial and commercial households;
MATERIALS:
(1) proof of identity of the applicant or relevant proof entrusted by the applicant;
(2) Application for pre-registration of individual industrial and commercial households;
(3) other documents and certificates to be submitted in accordance with regulations, rules and policies.

2. documents and certificates to be submitted for registration of individual industrial and commercial households:
MATERIALS:
(1) Individual opening registration application signed by the applicant (fill in the registration form for individual opening application );
(2) proof of employment (the domicile Registration Certificate, including the household register and identity information certificate, and relevant certificates of retired and other unemployed persons shall be submitted for the operation of personnel of this Municipality; individuals from other provinces and cities must submit their identity information certificates, local temporary residence permits, and proof of family planning for women of childbearing age)
(3) Proof of business site;
(4) Proof of the relationship between family members who manage their families;
(5) name pre-approval notice;
(6) relevant special certificates to be submitted in accordance with regulations, rules and policies.

3. Handle the organization code certificate:
MATERIALS:
(1) A copy of the business license of individual industrial and commercial households;
(2) Copy of Self-segmentation certificates of individual industrial and commercial households owner

4. Engraved *:
MATERIALS:
(1) A copy of the business license of individual industrial and commercial households;
(2) Copy of Self-segmentation certificates of individual industrial and commercial households owner

5. Apply for the national tax registration certificate:
MATERIALS:
(1) A copy of the business license of individual industrial and commercial households;
(2) A copy of the Self-segmentation certificate of the heads of individual industrial and commercial households;
(3) Proof of business site;
(4) A copy of the Organization Code Certificate;
(5) chapter.

6. Local Tax Registration certificate:
MATERIALS:
(1) A copy of the business license of individual industrial and commercial households;
(2) A copy of the Self-segmentation certificate of the heads of individual industrial and commercial households;
(3) Proof of business site;
(4) A copy of the Organization Code Certificate;
(5) chapter.

7. Set up basic accounts (mainly used for company transfers)
MATERIALS:
(1) A copy of the individual industrial and commercial household business license;
(2) A copy of the Self-segmentation certificate of the heads of individual industrial and commercial households;
(3) A copy of the Organization Code Certificate;
(4) A copy of the national and local tax registration certificates;
(5) chapter.

Why are there no restrictions on settlement of USD for registered Yiwu individuals? Is there any benefit? How much does it cost? Is there a settlement service fee?