Importing from China

rich1982 · 12-10-2008, 06:13 PM

Hi Everybody,

I am currently setting up a retail business selling products imported from China. I have found a supplier and a product at the right cost. I'm currently researching importing costs yet not finding any concretes answers into importing costs, duty costs VAT etc.

I am aware, however that there are shipping agents which can deal with all of this for a fee.

Does anyone know of any of these services and/or approximate costs?

Any help would be greatly appreciated...

Inferno House · 12-10-2008, 06:40 PM

Hi Rich,

Firstly - the "right cost" will not last long if you don't take action now due to the exchange rate situation of which is getting worse with the credit crunch, the $ is dropping at a ridiculous speed...

Secondly - how much are you looking to import, container or cartons?

Customs tax depends on the amount & the type of goods supplied.

Still learning myself to be honest, but i hope the info of which i have given you so far gives you a little insight of just the tip of the iceburg.

rich1982 · 12-10-2008, 06:57 PM

Hey Tylola,

Thanks for the info.....

I'm actually based in London, but yes the financial system is looking incredibly precarious all over.

I am still waiting on samples, but i imagine it will be containers worth. Do you know where I can find any guidelines or figures for the amount of tax i'll have to pay?

Thanks again,

Rich

Inferno House · 12-10-2008, 07:31 PM

Official Customs/Vat Charges << thanks to ibuy

kejeweler · 13-10-2008, 12:43 AM

Hello Rich,
Be very careful about dealing with suppliers in China! I don't know if you have dealt with Chinese suppliers before or not, but be prepared to deal with disappointment if you are just starting.

Doing imports is a very complicated matter. More comlicated than you think. There are simlply too many incidences of buyers oversea getting screwed by the Chinese supplier/manufacturers in China. To make long story short: I would like to caution you on the following tips in order to do imports correctly.

1. You must have some sort of quality control over there to help you on your behalf. Without QC, you are GUARANTEED to get screwed by the Chinese suppliers over there! Wrong items, incorrect colors, incomplete quantity, bad quality, empty boxes with nothing inside... you name it.

2. I don't know what payment arrangement you made with this guy, but I hope you don't pay 100% up front. You will need to play tough with these Chinese suppliers sometimes. This is a tricky topic and I can write a book covering this topic. But the one thing you must know for starting a new import relationship with any supplier is "Pay no more than 30% upfront", then pay the rest when goods are inspected, arrived, on LC or something. I cannot tell you enough how many incidences has there been about fake companies who steal foreign buyers' money and run away. Especially in China.

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Inferno House · 13-10-2008, 01:10 AM

^^^ Not really as bad as this guy makes out lol... just be sure to get the company fully checked out first

rich1982 · 13-10-2008, 09:07 PM

Hey guys,

Thanks both for this, so far i've only ordered a sample but as soon as i make any substantial order i'll be sure to pay a small amount up front.

The suppliers i've been in contact with have all been through online directories like Alibaba: http://www.alibaba.com/

Is it reputable does anyone know?

Sh0wtyme99 · 14-10-2008, 04:23 AM

Alibaba is cool I guess. However, Personally interacting with Chinese suppliers for some years now still has led to me getting screwed over once or twice with someone disappearing as soon as I paid. It actually happened the first time by someone claiming to be in London. It was when I first got involved. Since then I was very skeptical without dealing paypal. After having to go Western Union again, I got comfortable dealing with reputable sellers. Then recently tried someone new with new items, and they took off with my money.

Sh0wtyme99 · 14-10-2008, 04:32 AM

Why do they get frozen so much. I have talked with so many suppliers who say that

rich1982 · 14-10-2008, 07:03 PM

Hi Guys,

Thanks for all the advice. As far as payment goes the supplier has given me an invoice with the company's bank details on to pay, is this normal. It is an annoyance as i get charge for paying in foreign currency, do many suppliers take PayPal?

Has anyone heard of this supplier? Are they trustworthy?

http://www.chinahowfar.com/