The trading activities of Chinese companies with European countries are subject to specific regulations, among which, we mention the importance of the EORI number or the Economic Operators and Registration Identification code. One of our Chinese lawyers can give full support for EORI registration in 2024 and can explain to you the rights involved. They can also help you start a business in China.
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Short facts about EORI for Chinese companies in 2024
The EORI number was implemented in July 2009 by the European Commission for better and faster control of the customs activities within the territory of EU, alongside extra security and modernization. This kind of number is assigned to any company with trading activities in EU and it is formed of the VAT number, the country’s code, and other digits. This is the proper way to verify a company and its operations by the customs authorities and administration of the country in which the goods need to enter or exist. An EORI number assigned to a company in China is needed for:
- submitting the Entry Summary Declaration and lodging the Exit Summary Declaration;
- acting as a carrier for the transport of products by sea, air or land within the territory of EU;
- filing customs declarations with the entitled EU authorities;
- filing storage declarations if you have such operations within the EU territory.
With an EORI number, companies can receive notifications and verify information about any legislation modifications imposed by the customs authorities of the EU countries. You can benefit from comprehensive assistance and legal advice when registering the EORI number from our attorneys in China. They can also help you open a WFOE in China, register a trademark or obtain business licenses.
Some business owners in China think they need a new EORI number for each shipment. This is not required. A single EORI number is assigned per company if the application is accepted. As such, a businessman can apply for only one EORI number from the country of origin, regardless of shipment and related activities.
How can I obtain an EORI number in 2024?
Businesses in China can register for EORI if they intend to develop trading activities within the EU territory. One must make an EORI application with the customs authorities of the country he or she wishes to develop trading activities. The company’s documents plus personal identification documents are needed at the time the EORI registration starts. If the application is correct and accepted by the authorities, the EORI number will be issued, mentioning that the EU customs will work closely with the ones in China. Even if the EORI registration is subject to simple and fast formalities, it is recommended to have the support of an experienced team of lawyers in China.
If you decide to import to China, you must apply for an EORI number from the country of origin. Practically, the application is made just like in the case you need an EORI code when importing from any country. Imports in this case imply shipments from outside the European Union.
Is the EORI number the same thing as the VAT number?
No, the EORI and the VAT are two different things. The VAT number is assigned to companies subject to taxation in China particularly to the value added tax. This is an important step in starting a business in China, and that is to register for tax purposes. The VAT number is issued after the incorporation of a company in China. As for the EORI number, this is obtained by Chinese companies wanting to develop trading operations within the EU countries. For VAT registration and for EORI application, you can talk to our Chinese lawyers.
Can an EORI number be canceled?
Yes, if your company no longer activates on the market, or if it is bankrupt or closed, the EORI number can be annulled. Being a unique number, EORI can be re-assigned if the company gets back on track and restarts its operations. The formalities of canceling or regaining the EORI are not complex, but one should solicit the legal advice and assistance of a lawyer in China.
EU and China – trading statistics
China is a solid partner to numerous European countries in terms of import and export. For example, the EU exports to China in 2018 reached around EUR 210 billion. Raw materials, chemicals, vehicles, manufactured goods, food, and drink take the EU road to China, summing up billions of dollars each year. The following numbers and facts offered by the European Commission highlight the trading sector of China:
- In 2018, the most traded products between China and EU countries were telecommunication equipment and processing machines.
- In 2018, the Netherlands imported goods to China worth around EUR 85,280 million.
- In terms of exports to China, Germany is the main partner, with products worth approximately EUR 93,715 million.
- Motor cars and vehicles worth around EUR 781 billion were traded between China and EU countries in 2018.
If you would like to know more about how to obtain the EORI number in 2024, feel free to contact our law firm in China.