Tag Archives: customs and revenue agency

Tips For Starting A Business Of Import / Export

30 Sep

Thinking of starting an import / export? Maya, a Certified Import / Export Trade Professional offers these tips to get started:

  1. Many countries have set up offices (Consulates or Embassies) abroad to promote the export of their products. Consulate will provide you with industry directories and more. The embassies are located in the capital of a nation and consulates in different cities. In many cases, the Embassy web site will contain directories and manufacturer lists, as well as an email link you can use to power
  2. To import products, please contact the Consulate of the country is in their own country. If you are not sure of the products of another country wants, you can get catalogs and manufacturers.
  3. Contact the service rate in the country to ask about registration numbers or other procedures to be followed. For example, if you are Canadian, you need a registration number issued by the Canada Customs and Revenue Agency (CATA). Reporting to the CCTA of your plans to import or export, which emit an extension of your business number. This number is used in all documents.
  4. Learn about licensing requirements, if any. Many countries do not have the necessary permits for most products. However, if you are importing or exporting hazardous products (drugs, alcohol, chemicals, weapons, food and some clothing), you may need a license. “I recommend that people start out with low risk items that can be easily traded and have fewer obstacles such as gift items and consumption,” said Henzel. “Some industries, such as dairy, are guarded by lobby groups in some countries. You will find the fees and restrictions.”
  5.  Embargoes must create trade barriers against other countries. Many countries have embargoes against Cuba, for example. First of all, please contact the government, if there are restrictions or embargoes against the country you are considering. Next, contact the embassy of that country, if there are restrictions against goods in your country.
  6. Participate in the local crafts of the State (Chambers of Commerce, or if there is no local council of Commerce). In addition to the network, you can use for scientific libraries and other resources, offers a good business relationship with information.
  7. Use customs brokers. “Small businesses attempting their own documentation can be run on the delays at the border. If you make a mistake, you may be fined,” said Henzel. “A customs agent service is well worth the fees you pay. “
  8. When exporting, understand that a solution for the delivery and customs clearance services that works in every situation. Each contract is different. Every company and every series of products requires a different type of services or a combination of services. Engaging the services of the forwarder is one possibility. Forwarders arrange shipping and customs for goods going to other countries. “You have to buy these services and do your research,” Henzel explained. “A lot of questions. It is no different than buying a piece of furniture. Shop around first.”
  9. Familiar with Incoterms, as posted on the website of the International Chamber of Commerce (http://www.iccwbo.org/index_incoterms.asp). Incoterms are standard trade definitions that dictate the delivery and payment obligations of both parties. The two companies involved negotiate Incoterms for each deal. The best known Incoterms are EXW (Ex Works), FOB (free on board), CIF (Cost, Insurance and Freight), DDU (Delivered Duty Unpaid) and CPT (Carriage Paid). “You negotiate according to the Incoterms,” ​​Henzel said. “You decide who pays the costs of transport, who pays for insurance, etc.”
  10. Check with your bank for more information about credit cards, the most common form of payment in international negotiations. With a letter of credit, reduce risk and because the banks assure that the goods are delivered before the money is exchanged. As an importer, a Letter of Credit reduces the risk of having to pay upfront for goods or pay for goods that are inconsistent with the product description in the letter. As an exporter, you can be sure the buyer’s bank will receive the payment provided for the delivery of products as specified in an agreed period.
  11. Participate in trade missions. Check with your Chamber of Commerce or the local Chamber of Commerce to find out what is available.
  12. Finally, look to the Internet for more information on international trade. Many Web sites offer a range of information, you can access for free, including the website Henzel (www.importexportcoach.com).