Import Export Business

Importing and Exporting is difficult assignment if you do not know what you are doing but with the right research it could be very profitable. There are lots of opportunity from China to Europe to Latin America to Import products from simple toys to advanced technology. If you have an idea to start exporting to a foreign country it is vital to have a clear understanding where to start and which barrier you can run into.

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Do Research
Find fitting Market/Country
Understand your Customers

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Import Duties/Tariffs

Import duties and Tariffs can mean the difference in profit or loss. Make sure you what you have to pay when exporting or importing products. There are tons of different rules for every product category and each of them has different rules by region. Next to that you are also expected to know if you have to pay VAT and if not this does not mean you are completely exempt from paying VAT. A lot countries you expected to pay VAT and when the goods are sold to another company or non-consumer you can request the VAT back from the countries IRS.

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Restricted or Limited Products

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Find out of the products you are trying to export or import from certain countries are banned or limited but government rules. For instance products that fall on ITAR are limited and demand a lot paperwork to export.

International Traffic in Arms Regulations (ITAR) is a United States regulatory regime to restrict and control the export of defense and military related technologies to safeguard U.S. national security and further U.S. foreign policy objectives (source wikipedia).

Medical devices medicine and other food supplements fall under heavy regulations from FDA (The Food and Drug Administration is a federal agency of the United States Department of Health and Human Services, one of the United States federal executive departments) and CE (CE marking is a certification mark that indicates conformity with health, safety, and environmental protection standards for products sold within the European Economic Area (EEA)).

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Freight Costs

Freight costs may very a lot. Depending on the weight and dimension of you products. I case your products can be stocked it might be worth while to talk to 3PL companies. 3PL companies are 3rd party logistics companies that handle freight, warehousing and order picking depending on your needs. There are a great deal of different companies the market that can offer these services with a wide variety of different prices tags. Contact us if you need help finding the right partner.

Check import restrictions
Research delivery time
Research Freight Costs

Local Customs and Marketing

Then last and not least you need to sell your product. Even if you are already set with local customers communications can be difficult and might be worth to find somebody local to help you with this. Next to that it also wise to translate a large share of documentation and websites in the local language to prevent unpleasant surprises. We would be happy to support you in this.

Check Acceptable Marketing Channels
Check demands from the Markets
Translate as much as you can

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