If you want to expand your business to the overseas markets and start importing and exporting abroad then you are about to tap into a huge and potentially lucrative market. This isn’t to say that this is easy, as there is a number of challenges you’ll have to overcome with your firm.
The most prominent of these is the fact that your imports and exports will be subject to restrictions based on where and when you send them. To help you out with this then, what follows are some of the key things you need to know for sending items both inside and outside of the EU.
When you send your goods to countries within the EU, you need to remember:
- You must be a VAT registered company and be able to send or receive this information from others within the EU so you don’t end up paying more than you need to on your goods.
- Your items need to be properly classified with the right commodity code. This is something that explains what your goods are and is needed for getting them through customs.
- Depending on what you’re sending or receiving, you may also need an import or export licence and there are certain restrictions within the EU on what you can and cannot send. Details of which can be found here.
There are a number of similar circumstances to be aware of when sending or receiving items from outside of the EU, as well as some specific ones to which your business must adhere.
- You must still be VAT registered, even though such charges don’t apply outside of the EU. Instead there may be other equivalent costs, taxes and duties depending on the country you’re importing or exporting from. It pays to research these first before you start trading.
- You must again classify your items with the correct commodity code – otherwise these can be seized or delayed. Equally, you need to stick to any restrictions or lists of prohibited non-EU items.
- Make sure you also declare all your items when sending them outside of the EU, or when receiving your imports.
To make things easier for you, there is always the option to use an external delivery company like Parcels Please for instance, as these companies can handle the deliveries on your behalf. This way you can rest assured your important business parcels will arrive at their respective destinations and your company will be on its way to true international success.