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Enquiry: What is the difference between the business licence as previously issued by the Industry and Commerce Administration Department and the new all-in-one licence with a unified code?

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Photo: Enquiry: What is the difference between the business licence as previously issued by the Industry and Commerce Administration Department and the new all-in-one licence with a unified code?

When establishing a company or an individually-owned business on the mainland, it is first necessary to register with the government. Once this registration procedure is completed, the relevant Industry and Commerce Administration Department or Market Supervision Department will now issue a business licence complete with a unified social credit code. Holders of this comprehensive new business licence are no longer required to secure the former business licence, an organisation code certificate, a tax registration certificate, a social insurance registration certificate or a statistics registration certificate, while also being free from any obligation to complete additional record-filing formalities.

Similarly, once this new consolidated business licence has been granted, prospective business owners are not required to secure any additional licences or registrations and nor will they be subject to any supplementary record-filing obligations. In all instances, no individual certificates will be issued by any government department where its responsibilities now fall within the remit of the consolidated licence.

These new procedures were implemented on a nationwide basis on 1 January 2018 in accordance with the requirements of the National Development and Reform Commission. Businesses in Guangdong have been subject to these requirements since 1 September 2017 on a pre-national roll-out pilot basis.

For further details, please see: Unified Social Credit Code Use Requires Mandatory Business Licence and Certification Updates
Content provided by Picture: HKTDC Research
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