1.foreign tradeYou can register an overseas account in your own name, and clients can directly deposit funds into this account. However, the annual foreign currency settlement limit for personal accounts is only 50,000 USD. Of course, if the personal limit is exhausted, you can ask relatives to open an overseas account, but this may raise client suspicions, and once the account is frozen, it becomes troublesome.

If the factory has an overseas account, we can directly contact the client in the factorys name and use that account.In order to crack down on tax evasion, the customs and tax departments are now strictly examining the operation of buying export declarations. If the behavior of buying export declarations is discovered, the regulatory authorities will require tax replenishment (even a 2% tax rate may be a considerable amount). In addition, fines may also be imposed on the relevant responsible parties.This approach should be based on a very good relationship with the factory. Otherwise, clients may be lost or factory profits may be squeezed.

Common foreign trade payment methods in the market include Western Union, direct payment, PayPal, T/T telegraphic transfer, and L/C.Letter of CreditFor large amounts, use L/C credit cards and T/T telegraphic transfers; for small amounts, use PayPal; for medium amounts, use Western Union. Western Union has high fees (not as cost-effective as agents) and makes it difficult to withdraw cash from PayPal and continue payments.

Register a domestic public foreign currency account in the companys name for foreign trade settlement and transaction remittance.Now, the countrys foreign exchange controls are becoming increasingly strict,making it more and more difficult. The account also requires knowledge of the foreign trade settlement process andimport and exportexpertise, and the annual review is also high, making it uneconomical for enterprises with very large import and export scales.