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5 BASIC STEPS ON HOW TO IMPORT


  1. DECIDE THE COUNTRY

Different countries have different import/export regulations. Knowing the item’s harmonized tariff schedule classification number is very important in determining factors like whether the good is subject to quota restrictions, eligible for reduced rates, or restricted from entry. While the actual material may not be costly from a certain country, other factors might add up to the cost as the criteria for importing is vast and differ in different countries.


2. FIND SUPPLIERS

For new importers, there are government agencies that will provide you with the information you need. Use online sources as well, consult professionals and associations, join trade shows and make contact. Once that is done, meet your supplier and get the process going.


3. SEARCH IMPORT DUTY AND TAXES

Import duty is dependent on the commodity, its declared value, country of origin, anti-dumping legislation, and quota controls therefore, it defers from product to product. These duties can be as low as 0% or as high as 100% of the product’s declared value. The duties are collected to generate revenue and protect local markets.


4. FIND FREIGHT FORWARDERS AND CUSTOMS BROKERS

Worrying about shipping procedures and documentation should be the last thing on your list. Search for a reliable Freight forwarder that will give you daily updates on the progress of your shipment, while you concentrate on your business.


5. SHIP ON TIME

Always ship on time to avoid last-minute inconveniences. keep in mind that certain logistics factors like goods being held by customs or shipment not leaving on time amongst others may occur. be prepared for this and plan accordingly.

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