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7 Tips to Understand Business Etiquette in Colombia

7 Tips to Understand Business Etiquette in Colombia

Understanding business etiquette in Colombia is crucial to your commercial activities running smoothly in one of the most dynamic and promising economies in Latin America. Local laws, corporate procedures, language conventions, and cultural differences can pose a challenge for foreign executives looking to enter the Colombian market, so it pays to get clued up on local business customs. So if you are considering starting a business in Colombia or expanding into Latin America's fourth-largest economy by GDP, the following seven tips on business etiquette in Colombia should come in handy. 1. Business etiquette in Colombia requires you to comply with local regulations Dress according to business etiquette in Colombia Without exception, all multinational companies and foreign businesses must comply with Colombian regulations. This is essential to avoid fines and penalties from local authorities that can compromise civil and criminal liability. Understanding corporate laws and business etiquette in Colombia provides you with the necessary tools to face any legal problem or inconvenience that may arise. Certain aspects of the Colombian judicial system can be tricky to navigate, such as when and how you can appeal decisions, or sudden changes in legislation that are approved by the Congress or municipal authorities. For those unfamiliar with Colombian laws and regulations, it is highly recommended that you partner up with a locally based expert to guide you along your commercial journey. 2. Dress accordingly While this might seem obvious, keep in mind that weather affects...

Overview of Import and Export Regulations in the Dominican Republic

Overview of Import and Export Regulations in the Dominican Republic

Read more about the import and export regulations in the Dominican Republic as the export process in the Dominican Republic is regulated by laws, decrees, and regulations. This conforms to the different government institutions and agencies that participate in it. Besides, private companies that contractually with the government manage parts of the process particularly in management from ports and airports. Documentation required for exporting to the Dominican Republic Name registration in ONAPI: All documentation submitted to the National Office of Industrial Property of (ONAPI) must be in Spanish. If the applicant is a foreigner who is not a resident in the country submit your request through a representative or attorney. The response to your request takes 5 business days.Registration in the Chamber of Commerce and Production: the opportunity that your business can access the benefits and facilities that are obtained by being formalized.National Taxpayer Registry (RNC): a number that serves as the identification code of the taxpayers in their fiscal activities and as control of the Administration to monitor compliance with duties and rights of these. Complete Form RC-01, copy of passport, and Copy of commercial register.Commercial invoice: must include names of the customs office of exit and port of entry, name, and address of the seller or shipper, name, and address of the buyer or consignee. A detailed description of the merchandise, quantities, prices that specify the type of currency, type of currency used, conditions of sale, place, and date of issue.Certificate of...

Overview of Import and Export Regulations in Bolivia

Overview of Import and Export Regulations in Bolivia

When your business expands, you may consider importing and exporting goods as the next step. Bolivia is a resource rich country, benefitting from its geographical location within the Andean Community. Its gross domestic product (GDP) was US$39 billion in 2019 according to the World Bank. Before expanding, understanding import and export regulations in Bolivia is necessary to ensure legal compliance and positive economic returns. Bolivia’s economy has been growing in the last few years, mainly due to its exports of commodities such as natural gas, silver, zinc and soy. Another important sector is the manufacturing industry which corresponds to 14-15% of Bolivia’s gross domestic product annually. Imports and exports in Bolivia Bolivia has signed regional, sub-regional and bilateral trade agreements with the goal of opening the country to foreign investors. These agreements create new and favourable regional import and export regulations for Bolivia, making it more investor friendly. Bolivia's exports represent 26% of its GDP and imports represent 31.1%. This legal framework sparks the interest of new investors to Bolivia, a country with manageable risk levels. According to the World Integrated Trade Solution, Bolivia's openness to foreign trade generates export volumes that represent 26% of its GDP and imports representing 31.1% of its GDP. Major Bolivian exports are petroleum gas and other gaseous hydrocarbons (US$2.59 billion); zinc ores and concentrates (US$1.34 billion); gold, including gold plated with platinum, in bulk, semi-manufactured or in powdered form (US$1.04...

Understanding Regulations to Import and Export in Uruguay

Understanding Regulations to Import and Export in Uruguay

Learn about trade activity and how to import and export in Uruguay. Running trade operations in Uruguay offers many advantages to companies doing business in Latin America. One of the key benefits of conducting imports and exports in Uruguay are the country’s trade agreements, which lead to a tax reduction and in facilitated across borders activities.  Furthermore, Uruguay is a member of the World Trade Organization, ALADI and MERCOSUR. All these organizations share one target: reducing trade barriers and creating a non-tariff area between all member countries.  Additionally, Uruguay has set up so-called ‘Zonas Francas’ - free trade zones within the country, which offer companies further tax advantages. Moreover, local legislation enables foreigners to fully own a local company and operate within the country’s political stable environment. We outline regulations to import and export in Uruguay, and how you can access experienced trade law specialists to support your business activities. Requirements for import and export in Uruguay In order to trade in or from Uruguay, any import or export business must have a company registered with the General Tax Directorate (DGI), the Social Security Bank (BPS) and the State Insurance Bank (BSE).  The services of a Customs Broker must be requested at the Uruguayan Customs Broker Association. Moreover, the services of a Customs Broker must be requested at the Uruguayan Customs Broker Association. The importer or exporter must submit all necessary documents to the Customs Broker Association to work with a registered...

Understand Regulations to Import and Export in Paraguay

Understand Regulations to Import and Export in Paraguay

Conducting import and export activities in Paraguay can be a profitable venture while the market remains relatively unsaturated. Paraguay enjoys a substantial level of political stability and is known for its low taxes and established system for fiscal compliance.  In recent years, the country has diversified its economic activities greatly. This includes the development of agriculture, real estate, construction, amongst others. In terms of international trade, the country is known for its soybeans and frozen bovine meat. Similarly, Paraguay’s main imports include a variety of products, from broadcasting equipment to refined petroleum.  With strong macroeconomic principles guiding the country, Paraguay has become a great spot to conduct international trade activities. Learn about the procedures to import and export in Paraguay. How to import and export in Paraguay To begin importing and exporting products for commercial purposes into Paraguay, you must register a legal entity and an electronic signature. Any natural or legal person (such as a company) can register any of the eight types of legal entities existent in Paraguay. After successfully registering a legal entity, you must register your commercial activities and your signature with DNA (Dirección Nacional de Aduanas). Register the exporting or importing activities of your legal entity with DNA, this will include the registry of your electronic signature.  Responsible government authority The entity in charge of regulating imports and exports in Paraguay is the National Directive of Customs...

How Does a Customs Agent Work in Mexico?

How Does a Customs Agent Work in Mexico?

Nowadays, our world is one of communication and global exchanges. Indeed, borders have never been so easy to traverse. However, during transactions of goods, frontiers take back their rights, and it is, therefore, necessary to carry out the right administrative procedures to move products and services abroad. Mexico is becoming an increasingly attractive option for exporters, with a population of 127.8 million and growing consumer expenditure due to a swelling middle class. To get your goods into Mexico’s market, you will have to facilitate the delivery of your goods and specific administrative procedures. You will have to use the services of a Customs Agent. Considered as the second-largest economy in Latin America, Mexico is in expansion. The country is the world's thirteenth-largest export economy and the thirteenth-largest importer. With the trade war between Washington and Beijing, the trade partners of the US are evolving. It was reported that during the first week of August 2019, Mexico replaced China as the United States' top trade partner, while Canada becomes the second. We focus on how to import your products into the Mexican market. Advice from our International Trade Legal Team - What is a Customs Agent in Mexico? A Customs Agent is also referred to in Mexico as a Customs Broker. The essential objective for a Customs Broker is to clear importers’ products through a country’s customs processes. Customs Brokers are also in charge of the preparation of all the necessary documents and managing the taxes. This part of their work includes preparing relevant...

How To Import Wine Into Mexico: An Overview

How To Import Wine Into Mexico: An Overview

Mexico is a Latin American economy rife with business opportunities for trade. A huge consumer market with a growing middle class means Mexican citizens are buying more. Traditionally, tequila and beer have been Mexico's beverages of choice. However, wine is growing in popularity within the alcoholic beverage market. Considering that no country has more free trade agreements than Mexico, now is a great time for winemakers to consider expanding their distributions internationally. Here's how to import wine into Mexico. International Trade Mexico Lawyer - How to create a business plan? Before beginning the import process, it’s important you have a business plan. Before beginning the import process, it’s important you have a business plan. You need to complete solid market research and seek out distributors, retailers and marketing channels. Or will you take on the role of importing and distributing yourself? Incorporating a company in Mexico can give you more control and insight over the process. Next, identify your target market and how you extend your product to them. Mexico is a very large country geographically, and the demographics vary greatly. Know where your target market is based and avoid positioning your product where a market doesn't exist. Define your value proposition carefully. Why should customers choose your wine over other those from other countries and from other varietals? You should also consider consumer tastes in advertising and shopping preferences. Familiarize yourself with the business culture and get some helpful tips for doing business...

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