Few things to consider when importing goods into Canada for entrepreneurs
There are many factors to think about when running a business. For many industrialists or business tycoons, exporting or importing goods is a no brainer. If the sales are furnishing well, it’s natural to invest more in an importing business to have a smooth permanent overseas operation. Importing is essential for any businesses looking to expand and here are some things to consider when importing goods into Canada.
If you’re having business in the US looking to sell into Canada or importing into Canada, this guide can come handy, especially for entrepreneurs.
Check if the products can be imported to Canada
Before you think of making any documents, you should check whether or not the imported stuffs are accepted in Canada. If you’re a first-time importer, it becomes even more painful to determine the eligibility of the imported products. To begin with, you need to get accurate description of the products you plan to import, while also identifying the nation of maker, etc. Canada has a variety of products over which it enforces import regulations. You can check with import/export permit act and control list to verify on the goods being accepted, as some are prohibited and restricted.
Determine the tariff and customs charges
Once you get the assurance that you can import products to Canada, you should find out about tariff classification, rate of duty, tariff treatment if applicable, taxes payable on goods, etc. You must also know weights and measurements of the goods to determine the cost.
Find a service that can help with customs
Hiring a customs agent can help you to get obtain contract and shipment documentation, while also assist to submit your entry declaration to customs on behalf of you at the gate of arrival. Check with customs agents who can help you preparing appropriate documentation, customs clearance, and take payment on your behalf. They can help you to calculate all prices related to importing the goods, such as transport, customs duty, taxes, and insurance (if required). They also help you to get an export/import account (license), which is essential to deal with federal government regarding transportation, payroll, taxes, and other activities.
Once you know what type of goods you want to import, these steps are easy to implement for any new business owner or a prospective entrepreneur.
Clearit customs brokerage service can make sure you get it right. You can get in touch with them now for a smoother customs clearance and import process.