You can now easily start a business in New Zealand by importing quality and affordable products from China. Pandemic has changed everybody’s lives drastically in some way, including businesses. Now, China is giving the perfect opportunity for people to have easy access to start a business or start over by sharing their different products to the world through importation.
In importing products to New Zealand, there are essential and important steps that you need to know in order to have a successful process in getting products from your partner suppliers from China. In every transaction, the buyer has the sole responsibility to ensure the product complies with all the mandatory safety procedures, regulatory requirements and compliance procedures in New Zealand. Failure to do so results in penalties and will delay your delivery.
Before looking for a China product sourcing agent in Auckland, here are the things you need to consider first to have a successful business in your local area:
- Make sure that there is enough market demand for the product or goods you want to sell in the local market.
- Check if the good that you want to import is legally able to be imported in New Zealand.
- Check out the custom charges and taxed that you need to pay in able to import goods smoothly.
- Be aware of the risks of importing goods which usually concerns the quality of the delivered goods due to distance and passage of goods.
- The exchange rate fluctuations must also be considered as it can be in your favor or against you.
- Make sure that you have a clear trading terms and requirements from your supplier before importing goods.
Custom charges and import duties are based on the value of your imports. Goods and Services Tax (GST) is 15% of the value of your import goods. You also have to consider the transportation within New Zealand and sometimes, the Shipping Insurance.
Import to New Zealand starts when the goods are in the territory of New Zealand and considered as successfully imported once you paid the necessary taxes and duties. The essential requirements such as Product Safety Standards, Substance Restrictions, Labelling Requirements and Documentation Requirements must also be done beforehand.
For the Importing Procedure, here are the different steps you need to accomplish to have a smooth transaction:
- Apply for an electronic import or cargo entry (ECI) document.
- Pay the customs and good and service tax (GST)
- Pay other applicable charges and levies
- Submit appropriate documentation, if any.
You can obtain the Electronic Cargo Entry (ECI) from your custom broker, freight forwarder, Trade Single Window (TSW) or an Electronic Data Interchange Software. Every buyer is required to submit an Import Entry Clearance 20 days before your goods arrive at the port of entry. You also have to take note that you will receive your imported goods once the necessary duties have paid and inspection is complete in your goods.
As you see, it is not complicated to import goods from China to New Zealand as long as you follow the necessary import regulations and pay the right charges and duties. Start importing goods now and see the many business opportunities it can give you.