The sudden increase in the availability of high-end brands all across the world is the result of flexible import rules introduced lately which has made it easier for the bike lovers to enjoy the refinement and quality provided by these premium bike brands. The market demand can be met more effectively if you’re up to date with the motorcycle import basics where the government is already offering a large number of tax incentives providing a range of cost benefits to both the manufacturers and the customers. Here are few bike import basics that you must remember to walk through the legalities and regulations of the import process without any delay and complexities.
Import duty
Bikes with engine capacity of 800 ccs or less will attract 50 per cent import duty while the import duty on bikes having an engine capacity of 800 ccs or more will attract 60 per cent import duty. The full import process of the bike is actually quite pocket-friendly because they are not brought under any kind of bilateral trade agreement. If you’re a new player in the import process then it’s always advisable to start with a customs broker as he’ll assist you on the best shipping method and the average of your product’s landing cost. If you haven’t paid the import duty on time your order can be delayed even further.
Legal aspects
There are several legal aspects which you can’t overlook while you’re starting the import process of the bikes. You need to fill several government forms and a great many regulations regarding your imports. The first fall you need to look into the fact that the brand you’re trying to import complies with the safety code of that country and is also in accordance with the other import rules that are strictly followed over there. Even the slightest negligence in the documentation or delay in the landing cost can complicate the process of getting your product through that country.
International trade paperwork
You need to make your choice while importing the bike as to how you’re going to handle the logistics. You can hire a freight forwarder to outsource the work or you can handle the transportation process by yourself. It is also required that the manufacturer who is importing the bike to another country attaches a completed declaration form. If your bike import holds the worth more than $2,000 then you’ll need to submit a fully signed single administrative document declaration.
Vehicle import approval
Before importing your bike you need to login to your client portal and get your vehicle registered with the department. This registration process may require you to submit your photo identification, driving license or a copy of your passport to confirm that you belong to a genuine organization or a company. From individual bike importers to global bike manufacturers you’ll need to select the approach that best defines yourself and your identity. Once you complete and submit the vehicle import application the customs department will access an application and notify you whether your form has been rejected or approved.
Custom clearance
In order to facilitate the import of your bikes into another country, you’ll have to submit the documents that will pass through the customs department to approve the shipment of your bike. The customs department looks into various documents such as customs examination assessment, clearing agents and payment of customs duty. Once you clear the complex process of customs clearance you enter into the final stage of the import process. After all your shipment needs to be cleared on time to avoid incurring unexpected losses.
Shipping insurance
This is the safest bet that can help you reimburse your losses if the bike is stolen, lost or damaged during the shipping process. You can get full coverage of your shipment if you’ve applied for your parcel insurance before the import process. Protect your revenues and reduce the sting of shrinking profits through this resourceful import basic which you must follow. Many government banks all over the world can provide you flexible custom solutions based on your requirements. Whether you’re shipping a bike individually or as a company shipping insurance is something that you should never forget.
Emission standard
The emission standard for bikes with an engine displacement less than 50 ccs are exempt from the certification requirement. However, if your bike crosses this limit then your bike engine will need to meet the emission standard to promote a green environment. You’ll have to comply with the emission standards to experience a smooth import experience.
You’ll need to maximize compliance with the import regulations to be able to provide a great deal on the bikes that you’re offering overseas. Take advantage of the competitive pressure by slashing down both the time and the prices involved in the import process by being well equipped with these import basics.
