The laws of international trade often differ with the country, and importing goods from certain areas can be very rewarding, but at the same time be both tedious and difficult. If your company wishes to trade-in goods from a country like Vietnam, then you must be willing to respect and abide by its policies, regulations, taxes and tariffs. This article will help you and your company in a simple but effective step by step process to becoming an accepted (and perhaps sometime in the future, successful) importer of Vietnamese goods.
However, you must first make sure that your company has been properly licensed to trade, and is approved by your federal government before continuing with this article and following the steps. You will also need a prescribed customs dossier of imported goods, as well as your company’s importing plan—which should be approved the Ministry of Commerce.
- The very first thing you should do is to learn all there is to learn about importing goods from Vietnam. Since you are already readying yourself and your company to do this, then it is safe to assume that you have done your homework when it comes to Vietnamese trade, but it is always better to be safe and sorry, and making doubly sure is always the safer choice.
- Once you and your company are ready, you should begin by submitting all the necessary documentation required to legally import goods from Vietnam. This would include your company’s importing plan as well as the prescribed customs dossier. If you are asked for any other documents, then act on your discretion and remember to always respect their policies.
- Once it becomes legal to import your goods, then you need to have them registered. A Customs Office is the typical place to go for registering imports, whether they are duty free, out of the lists, taxable or require further processing. If there are no Customs Offices to be found in the area, then be sure to look around and do not forget to ask. There is bound to be an office that deals with registering imported goods somewhere.
- Depending on the kind of imports you have, it will either be inspected in the factory, or the warehouse. The decision will go to the Director of the Customs Department, who will then point you to the Inspections Office.
- Lastly, be warned that if you get caught importing banned products from Vietnam, a criminal investigation could be waiting for you. Save yourself the fines and jail time and follow step one—which is to do your homework in order to make sure that this does not happen.
Just like every other kind of business out there, success is never truly guaranteed—but there is always a fighting chance, however little. You can also do much to raise that chance by planning ahead, making the right and decent choices, and always abiding by the rules and policies imposed upon you, especially when it comes to the business of importing goods.