Strategies For Import And Export Processes In Vietnam
Importing and exporting products could be a challenge for businesses in Vietnam. Vietnam Briefing outlines a general step-by-step guide for import and export procedures in Vietnam. We also take a look at registration, license permit requirements, customs procedures, and duties applied.
Vietnam doesn't need a business to possess a separate import or export license to get familiar with import and export activities in the united states.
The commonest entity for investors trying to take part in import and export activities, in addition to participate in domestic distribution of products, is placed a trading company. This is an inexpensive establishment option without having minimum capital contribution required.
However, in the event that an importer would want to sell imported products to Vietnamese consumers, they need to ask for additional trading license has to be obtained to legalize the process. Creating a trading company takes approximately three months while obtaining a trading license will take 1 to 3 months.
n practice, businesses that desire to import to Vietnam without generating a local legal entity can utilize an importer of record to facilitate the process. This plan allows foreign companies that have time constraints, would like to test the market industry, or only import several times to deal with logistical, regulatory, and language barriers.
Certain goods require companies to have permits through the government. Moreover, petroleum oil is banned from exports while goods banned from imports include cigars, tobacco, petroleum oils, newspapers and journals, and aircraft.
Customs procedures
All goods imported or exported in Vietnam are susceptible to the Vietnam customs clearance standards, which effectively look into the quality, specifications, quantity, and level of items. Among these, certain imported items are be subject to inspection.
As an example, imported pharmaceuticals must undergo testing and include documents detailing product use, dosage, and expiration dates (written in Vietnamese), which must be contained in or around the presentation.
Customs documents needed in Vietnam
Companies that import or export goods must submit a dossier of documents, which include at least the company’s business registration certificate and import/export business code registration certificate to the customs authorities. Depending on the imports or exports involved, authorities may request the next additional documents:
Documents needed for importing goods include:
Bill of lading;
Import goods declaration form;
Import permit (for restricted goods);
Certificate of origin;
Cargo release order;
Commercial invoice;
Customs import declaration form;
Inspection report;
Packing list;
Delivery Order (for goods imported through seaports);
Technical standard/health certificate; and
Terminal handling receipts.
The documents required for exporting goods include:
Electronic Export Customs Declaration (E-Form HQ/2015/XK);
Bill of lading;
Contract;
Certificate of origin;
Commercial invoice;
Customs export declaration form;
Export Permit;
Packing list; and
Technical standard/health certificate.
Export shipments can be completed on the same day while import shipments typically take around one to three days to finish for full container loads (FCL) and fewer than container loads (LCL), respectively.
Optimizing your customs experience
Vietnam’s customs procedures are complex and at the mercy of change with hardly any warning. For up-to-date information about clearance regulations, processing times, or looking for the priority program, it really is advised to consult with government officials or possibly a professional service firm that may advice the business with any cumbersome procedures and legalities.
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