Starting an import/export business in |Ireland.

lyzardking

Hi, I was wondering what are the basics in starting an import/export company in Ireland, to act as a middleman who sources quality goods that companies require at best price. I have what seems to be a reliable contact company in China who is willing to source whatever products i request. I was just wondering if anyone knew the procedure like where to start from, is it a company formation and is there certain qualifications one needs to start such a company.Thanks.

Axwell

Well having someone out there is only a small part, you have customs, shipping, tax, delivery and other areas. So you would need to know all about that side of things if you plan to import goods into the country for people. Also I would be wary of using someone who says they have "what seems to be" a reliable contact in China.

Eirmon

What about company registration? Do you need to have a registered company to import a container of goods from china?
Thanks

ssbob

Eirmon wrote: »

What about company registration? Do you need to have a registered company to import a container of goods from china?
Thanks

Hey there,

Yes you need to be registered with the CRO but you don't need to be a ltd company, you could set up as a sole trader which is much more simple.

I would second that thought about being very careful when dealing with China. I have in the past brought in Golf Equipment from reputable suppliers but when I got it tested, they looked and felt like the real deal but actually the weights were all wrong(golf club)

Be careful but good luck.

Bob

91011

lyzardking wrote: »

I have what seems to be a reliable contact company in China who is willing to source whatever products i request. .

Beware that there are more scam merchants in China than any other country (mainly due to their huge population) and unless you are absolutely certain about what you are doing, avoid it.

Most good sized companies will source direct themselves or will use agents.

There are even specialist companies based here that will do this for you too and they have Irish people on the ground over there.

Just be very very careful.

Smurf74

Have to Agree with previous posts about being very careful when importing from China...
I should know as i'm one of those people mentioned above who is living on the ground here and see and deal with Chinese factories and agents everyday and it can be a complete nightmare.

Website like Alibaba and the like a basically just collections of middle men peddling products from manufacturing companies and wholesalers. I avoid them at all costs.. Its vital to have a person in China who can speak and especially read and write in Chinese, so i think its good to have a contact on the ground!

Also remember shipping can be a minefield and have a major bearing on the landed prices of what you are buying! Make sure to have costs for everything factored in before you give any quotes or prices!

but double and triple check your contact is the best advice i can give you!

Best of luck with your new business!

Niallbf

Just looking in to the possibility of meeting an Irish consulting company that specialise in offering advice to firms who wish to offshore part of their business or set up foreign subsidiaries...had a look on the net but didn't find much

anyone have any ideas? All suggestions welcome

RUDOLF289

Eirmon wrote: »

What about company registration? Do you need to have a registered company to import a container of goods from china?
Thanks

Hello Eirmon,

There are a couple of things to bear in mind when importing.

1) Registering for VAT
If you import from outside the EU you will pay VAT at the point of entry. Unless you are registered for VAT, you can not claim that VAT back. Obviously if you register for VAT you also have to charge your clients VAT.

2) EORI Registration
In order to import from outside the EU you need to be registered for EORI (Economic Operators' Registration and Identification System). Have a look at page 6 of the attached document

There is some good advice from 91011 and Smurf74 in relation to sourcing products from China. As they say, there are companies in Ireland that specialise in sourcing products in China. They have resources in China (including Irish people with years of experience) that can check the goods before they leave China. That gives some security as you will have paid for the goods well before they arrive in Ireland.

In relation to shipping, two suggestions ;

1) If your supplier offers you "free shipping" or shipping included in their price, check who the agent of the carrier in Ireland is and confirm their charges before the shipment leaves. There are many posters on Boards.ie that have been caught out and paid exorbirant costs on arrival of the goods.
2) Alternatively buy on FOB Chinese port terms and investigate the shipping costs through Irish based forwarders.

Best of luck with your venture

Cheers,
Rudolf289