Getting started with importing aquafeed into Vietnam
Fish, shrimps, and other types of seafood are some of the fastest-growing export items for Vietnam. However, with the rapid growth, the country is struggling to produce enough feed for the seafood. This creates abundant opportunities for foreign companies to import aquafeed into Vietnam.
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In this article, we’ll show you two methods for importing aquafeed into Vietnam. Using an importer of record allows you to start importing immediately and frees you from any local bureaucracy. We’ll also show how you can set up a trading company in Vietnam.
The process of importing aquafeed into Vietnam
The following describes the process of importing aquafeed using Emerhub as the consignee in Vietnam. The process allows you to start importing aquafeed immediately.
Documents required for aquafeed import
For exporting aquafeed to Vietnam, you’ll have to provide the following documentation:
|Commercial Invoice||Legal document issued by the seller to the buyer (importer) to serve as proof of sale between the buyer and seller.|
|Packing List||It includes net weight, gross weight, dimensions and detailed lists of the goods in each package.|
|Sales Contract||An agreement between a seller and a buyer for the sale of goods. The basic terms and conditions required in an international sales contract include the following:- Object of the contract- Name of the goods- Quantity or volume of the goods- Goods quality- Price- Delivery (Delivery time and method)- Payment (Payment currency, time of payment, payment method)- Rights and obligations of the parties- Applicable Law- Arbitration|
|Certificate of Origin||It verifies where the product was produced, manufactured, or processed.|
|Certificate of Analysis||Is defined as a testing report of a lab from the country of origin|
|Certificate of Free Sale||The document is issued by an authorized agency in the country of origin certifying that products were admitted to be sold freely on the territory of the producing country. It must be consul legalized according to provisions of the law|
|Health Certificate||It confirms that the goods are free from disease or pests (insects), and that products have been prepared in such a way that they reach prescribed standards. The document must be valid until the Animal quarantine process is completed.|
|Bill of Lading/ Airway Bill||A receipt issued by an international airline/ shipping line or its agent for the shipping of goods|
Option 1: Importing aquafeed into Vietnam using importer of record
Since Emerhub has the license to import aquafeed, the easiest way to get started is to use us as the Importer of Record. Here is the process that your shipment will undergo, handled by Emerhub as the importer of record:
1. Animal quarantine process
It takes around two weeks to get your shipment of aquafeed registered and quarantined when shipping to Vietnam. Animal quarantine registration (online) takes 3-5 working days. You can do this when the shipment is in transit or before it arrives.
After the shipment arrives, it needs to declared to the Veterinary Sub-department, which takes 3 working days. Then, a testing sample will be extracted, which takes 1 working day. The animal quarantine result waiting time is 7 working days.
2. Type of Approval and Declaration of Conformity
This phase involves two steps: a testing sample extraction which takes one working day and Type of Approval (ToA) and Declaration of Conformity (DoC) testing and certificate which take 10 working days.
3. Customs clearance in Vietnam
The Customs clearance process typically takes about seven working days but can be prolonged if the shipment is selected for physical inspection by customs (red channel). This is not the case for shipments that are assigned to green or yellow channels which are only subject to document examination.
4. Cargo liquidation and relocation to a warehouse in Vietnam
Once the sample is extracted, the cargo will be sent to a local warehouse in about five days. Note that the steps 1-4 apply for every single aquafeed shipment.
5. Circulation registration in Vietnam
Before you are allowed to sell your aquafeed in Vietnam, each SKU needs to be registered. This is a one-time process per SKU and takes about 15 working days.
Option 2: Setting up a trading company for aquafeed import into Vietnam
If you want to import aquafeed to Vietnam, you’ll need to have a legal entity established in the country.
Setting up a trading company that can import/export and wholesale aquafeed products can be very beneficial in the long run. All the aquafeed products imported into Vietnam can be registered under your own company, which gives you total control and branding over your own products in the market.
Having a company registered in Vietnam also allows you to connect and do business easily with local partners and clients.
Requirements for a trading company in Vietnam
The trading company is allowed to be 100% foreign-owned and has no minimum capital requirement. However, the government expects sufficient paid-up capital amount to support your business in the long run.
A trading company in Vietnam has two key requirements:
- A Resident Director (Local Representative): can either be a local Vietnamese, or a foreigner who has a residential address in Vietnam.
- A qualified business address: a corporate office or commercial address. A virtual office address is allowed for trading company registration.
Conducting retail activities in Vietnam
To engage in retail activity to sell your products to end-users, Retail Licenses will be required:
- Retail License: required to sell your products to end-users
- Outlet Registration: required to sell your products via an outlet store
- Website Notification: required to sell your products on your website
Wholesale company setup takes about 4-6 weeks. Both individual and corporate owners are allowed.
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