Since my country is a country with foreign exchange controls, the remitter must also submit relevant documents to the bank for review when remitting the remittance according to the requirements of my country’s State Administration of Foreign Exchange.
(1) Cash on delivery: Submit the customs declaration, contract, invoice, transport bill and “contingent materials”, as well as the registration form, license, and specific products.
(2) Advance payment: Submit the pro forma invoice, contract, and verification form (provided by the bank). For an amount of more than US$200,000, an advance payment guarantee issued by the foreign importer’s bank must also be submitted. There are two situations in which the advance payment is not required to submit an advance payment guarantee when the advance payment is more than US$200,000.
① Domestic foreign-invested enterprises do not need to submit an advance payment guarantee when prepaying import goods to their overseas parent (parent) companies, or branches and joint-stock or controlling companies established by their overseas parent (parent) companies. However, they still need to submit the pro forma invoice, contract, verification form (provided by the bank), foreign exchange registration certificate or other certificates from related companies.
② When Chinese-funded enterprises make advance payments for imports to their overseas branches and joint-stock or holding companies, they do not need to submit advance payment guarantees, but they still need to submit pro forma invoices. Contracts, verification forms (provided by banks), overseas investment enterprise approval certificates or other certificates from related companies.
(3) Commissions: Submit import and export trade contracts and import and export invoices. For implicit commissions (commissions that do not indicate the commission and commission ratio in the contract), a commission agreement must also be provided. For commissions exceeding 5% of the contract amount and exceeding US$10,000, approval from the State Administration of Foreign Exchange must also be provided.
(4) Final payment: Submit import and export trade contracts and inspection certificates.
(5) When foreign-invested enterprises withdraw employees’ overseas travel expenses from their foreign exchange accounts for remittance, they must submit passports with valid entry visas to the countries and regions they are traveling to, and a budget sheet for foreign exchange used for going abroad.
(6) When foreign-invested enterprises remit wages and salaries for their employees, they must submit the board resolution, company certificate, payroll, and tax payment certificate of the enterprise.
(7) Remittance of dividends: Submit the board of directors’ profit distribution resolution, the “Foreign Exchange Registration Certificate for Foreign-Invested Enterprises”, the capital verification report issued by the registered accounting firm, and the audit report and tax vouchers on the relevant annual profits or dividends.
(8) Remittance of foreign patent license fees: Submit the contract or agreement, invoice or payment notice, the receipt of the filing of the patent implementation license contract issued by the national patent authority, the “Technology Import and Equipment Import Contract Registration Effective Certificate” or “Technology Import License”, “Technology Import Contract Registration Certificate”, “Technology Import Contract Data Sheet” issued by the foreign trade and economic authorities, and tax vouchers.
(9) Remittance of foreign patent transfer fees: Submit the contract or agreement, invoice or payment notice, the “Patent Registration Book Copy” and “Patent Advertising Certificate” issued by the national patent authority, the “Technology Import and Equipment Import Contract Registration Effective Certificate”, “Technology Import License”, “Technology Import Contract Registration Certificate”, “Technology Import Contract Data Sheet” issued by the foreign trade and economic authorities, and tax vouchers.
(10) For remittance of trademark licensing fees that do not include patent, proprietary technology licensing or transfer: submit the contract or agreement, invoice or payment notice, “Trademark License Contract Recording Notice” issued by the national trademark authority, and tax vouchers.