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Importing and exporting products could be a challenge for businesses in Vietnam. Vietnam Briefing outlines a broad step-by-step guide for import and export levels in Vietnam. We also look at registration, license permit requirements, customs procedures, and duties applied.
Vietnam does not need a firm to have a separate import or export license to engage in import and export activities in the united states.
The commonest entity for investors looking to embark on import and export activities, along with participate in domestic distribution of products, is to establish a trading company. It is deemed an inexpensive establishment option without minimum capital contribution required.
However, in the event that an importer would want to sell imported products to Vietnamese consumers, they have to ask for additional trading license has to be obtained to legalize the task. Establishing a trading company takes approximately 90 days while having a trading license can take one-three months.
n practice, firms that desire to import to Vietnam without starting a local legal entity can utilize an importer of record to facilitate the method. This tactic allows foreign companies that have plenty of time constraints, desire to test the marketplace, or only import once or twice to deal with logistical, regulatory, and language barriers.
Certain goods require companies to obtain permits in the government. In addition, 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 at the mercy of the Vietnam customs clearance standards, which effectively check the quality, specifications, quantity, and volume of items. Of these, certain imported backpacks are at the mercy of inspection.
For example, imported pharmaceuticals must undergo testing and will include documents detailing product use, dosage, and expiration dates (developed in Vietnamese), which must be incorporated into or around the product packaging.
Customs documents necessary in Vietnam
Firms that import or export goods must submit a dossier of documents, which includes at the very least the company’s business registration certificate and import/export business code registration certificate for the customs authorities. Based on the imports or exports showcased, 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 needed 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 could be completed on the same day while import shipments typically take around one-three days to complete for full container loads (FCL) much less than container loads (LCL), respectively.
Optimizing your customs experience
Vietnam’s customs procedures are complex and at the mercy of change with virtually no warning. For up-to-date information on clearance regulations, processing times, or trying to get the priority program, it can be advised to see with government officials or a professional service firm that can move the business with any cumbersome procedures and legalities.
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