There is a new trend going on in Pakistan, which is of the import export business. The reason behind this trend which is attracting people is the international currency. When converted in Pakistani rupees it becomes a huge amount. The global market is attractive because of the huge profit gains. There is no doubt in it, that Import Export business generates the highest profit margins.
But, the real question is that, how a person can start the business of import and export in Pakistan?
I will guide you step by step how you can setup and start your own business of Import&Export in Pakistan:
- Register your company.
To register your company visit SECP(https://www.secp.gov.pk). And create a bank account as the bank becomes a guarantee for the international investors and traders.
- Get NTN and Sale Tax number.
You have to get the National Income Tax Number without it your payments won’t get cleared.
- Opening an office.
Set up a place to start your work.
- Registration for exports.
Register your company for five years at nearest office of EPB for a small fee to start an import export business in Pakistan.
You can get an insurance for your company to avoid any loss.
The following documentation is used to do import export business in Pakistan.
- E-Form (Through Authorized Commercial Bank)
- Shipping Bill (Through Authorized Clearing Agents)
- B/L or AWB (Through Clearing Agents)
- Commercial Invoice
- Packing List of the Products
- Certificate Country of Origin (Through Chamber)
- GSP (Through EPB)
- Textile Quota Export License/Visa Documentation Required for Textile Quota Restraint
- Pre-Shipment Certificate through EPB to manage certain textile items
- Export Contract Registration details
To do import export business in Pakistan Textile Quota Export License is required. B.C.A (Bank Credit Advice) to be received from commercial banks after foreign exchange is received.