Friday, December 17, 2010

What Are the Legal Requirements to Start an Import Business?

I am working on a new project where I will be covering both importing and exporting for a small business.  Watch for it.  But in the meantime, here's a short cut answer to the question:
The only legal requisites to opening an import business are having an importer of record number, which is usually just the business's tax-identification number, and a surety bond to protect the U.S. government if you can't pay your duties, taxes and other fees. Surety bonds are required for all so-called formal entries where the shipment is valued at more than $2,000, but many importers use them on smaller shipments as well. They can be purchased ...
Read the entire answer:  Opening a Small Import Business

And I am sure there are additional factors to consider.  If they've been left out, please comment.

1 comment:

Unknown said...

Great blog.. thanks for sharing.. Would you like to tell me what is the procedure to start an import export business in China.. how to start an import export business