When To Use Importer of Record Service in Pakistan
Table of contents Import regulations in PakistanImport to Pakistan using an importer of record service (IOR)5 top reasons why you should use importer of record service in PakistanDocuments required for importing to PakistanReady to use importer of record service in Pakistan?In case you are going to import to Pakistan but don’t have an import company […]
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In case you are going to import to Pakistan but don’t have an import company here, using an Importer of Record (IOR) is the best option if you want to get started immediately.
In this article, we will explain what is an importer of record and demonstrate how you can import using an importer of record service in Pakistan.
The Ministry of Commerce regulates the import of goods in Pakistan under the Import and Exports Control Act 1950.
In Pakistan, an import license is not compulsory, and any company registered in Pakistan can import, as long as they comply with the general requirements:
- Have a National Tax Number (NTN) issued by the Federal Board of Revenue (FBR)
- Have a Sales Tax Registration Number (STRN) from FBR
- Are a member of any chamber of the Chamber of Commerce and Industries (CCI)
- Have a bank account in Pakistan
However, having an import license makes importing much faster and easier.
But how to import if you don’t have a company in Pakistan or the experience of handling customs clearance?
An Importer Record (IOR) is a company, such as Emerhub, that imports goods on your behalf. It means that you don’t need to set up a separate legal entity nor acquire any licenses to be able to import to Pakistan. You will be using Emerhub’s licenses instead.
By using an IOR, the customs clearance will be smooth and seamless. Also, note that for immediate customs clearance, you must pay the shipment’s taxes on the arrival date of your goods.
Emerhub will be giving you complete and accurate details of prices or payments including the estimated arrival of your shipment.
As mentioned, using an IOR is the best alternative to setting up an import company in Pakistan. Here are the five main reasons why you should use IOR service in Pakistan.
#1 Fast import
Before you can start importing to Pakistan, you need to undergo several steps. These steps include the incorporation of a company as well as the acquisition of an import license. These processes can take up to ten weeks to accomplish.
An IOR, on the other hand, allows you to start importing without acquiring any licenses nor establishing an entity in Pakistan. Our IOR service is a faster way to solve your concern about importing in Pakistan.
#2 Hassle-free customs clearance
Take note that even though having an import license in Pakistan it is not mandatory, it is strongly advised to acquire one. An import license will make the whole process smoother, especially if you are going to import products that have additional requirements or restrictions.
By using the importer of record service, you will be able to start importing immediately without the need to wait for any documentation as the service provider already has the necessary licenses. This way you will also avoid any conflict and lower the possibility of stuck goods in customs. Hence, making the customs clearance smoother.
#3 Estimate costs before importing
After providing the necessary information regarding your shipment, we will calculate all the fees as well as the approximate arrival of your goods.
This way, you will be able to estimate the costs already beforehand.
#4 Compliance with local laws
Importing in Pakistan follows various regulations and consumes a lot of time to process. With the IOR service, the consignee will also make sure that your shipment complies with local laws.
With an IOR, you don’t need to spend time on getting to know the local regulations that you have to keep in mind when importing.
#5 Focus on your core business
In addition to fast and seamless import, the importer of record service gives you more time and opens an opportunity for you to focus more on growing your core business instead of handling bureaucracy.
Emerhub has been providing IOR service in Pakistan since 2017. The process will be the following:
To speed up the process, you can also provide the following documents:
- Certificate of Origin
- Copy of Letter of Credit
- Copy of Insurance Certificates
Please also note that:
- All payments related to taxes are non-reclaimable when using importer of record service. You can treat these taxes as total expenses against the importation services.
- It is crucial that Emerhub receives tax payments when your products arrive in the destination country as the customs clearance process must be completed in no more than three working days. It may also bring further costs (such as D/O, demurrage, warehousing).
Let Emerhub know about your planned shipment by filling in the form below. Our consultants will contact you as soon as possible.
Or, in case you are interested in establishing your legal entity, read more about setting up an import company in Pakistan.
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