What to keep in mind before importing to Ecuador

There are several important points that you must know before starting to import in the country.

Importing products from China or the United States has become a viable option for many people who want to generate a profitable business, collaborating at the same time with the development of a country. The demand for articles that are not in the national market is increasing day by day and that is where the opportunity to undertake can arise.

Me, an importer?

Yes, even if you do not believe it is important to note that from the beginning any natural or legal, Ecuadorian or foreign person based in the country has the opportunity to import articles from different parts of the world. Either with the application of 4 × 4, specific or commercial taxes; with the help of an importer registration in the Ecapass system that is approved by the National Customs Service of Ecuador.

Stay attentive to the market

According toLaarBox, this is an important step to become a successful entrepreneur, since it will allow you to know the market in which you want to focus both as an import business as a consumer or even target audience, in this way you can supply the products that your target requires.

Define your type of business

With a market perspective that you want to focus, it is vital that you involve and investigate what type of business would have greater impact on your consumers; Know what are the products that you import to fill an emptiness or arise satisfaction. For this you must take into account your skills and specialties to also find the best product to import.

Do not forget the requirements to be importer

You must complete a series of points to be a true importer:

1.Obtain the Single Taxpayer Registry (RUC) issued by the Internal Revenue Service (SRI).

2.Obtain the digital certificate for the electronic signature and authentication granted by the Central Bank of Ecuador and Security Data inhttp://www.eci.bce.ec/web/guestandhttp://www.securitydata.net.ec

3.Register on the Ecapass portal:http://www.ecuapass.aduana.gob.ec

4.Through a customs agent, the deductization procedures of the merchandise will be carried out, who will advise the importer which merchandise may or may not matter, as well as the respective requirements that the product must meet according to the requirements established by law.

Import consumption

You should keep in consideration that your products must enter under the importation of consumption, that is, you must nationalize the foreign goods that enter the country for free disposition, use or final consumption, once the respective tax payment is made and ordered by the lift of these by the capacity official.

• What products can I and can't import?

It should be analyzed which products in Ecuador have a greater demand and what costs would have their import for greater benefit.

That is why we present a small list of the main import products in Ecuador:

• Organic chemicals, medications.
• Electric, plastic machines and their manufactures, machinery and equipment.
• Make-up.
• Press editorial products and graphic industry.
• Wood or metal furniture.
• Toys.
• Candies.
• Kitchen items.
• Clothing and footwear.
• Car accessories (tires, engines, exchange boxes, transmissions, etc.).

On the other hand, you have to take very seriously therestrictions that the country has with respect to objects that cannot enter their territory, so we suggest that you advise with specialists so that your products are not returned.These are some of those who do not allow entering:

• Narcotics and psychotropic substances.
• Explosive, flammable materials or other dangerous materials, as well as radioactive materials.
• Obscene or immoral objects.
• Objects that, due to their nature or packaging, may present danger to employees, stain or deteriorate other shipments or postal equipment.
• Firearms
• Lithium batteries.
• Articles that require cold chain for mobilization (medicines, perishable food).
• It is forbidden to include coins, bank tickets, paper money or any other carrier values, travel checks, platinum, gold or silver, manufactured or not, rhinestones, jewelry and other objects.

The waiting time ...

There are different processes behind, before knowing the estimated time in which your import will arrive in the country you should know what place is coming, and that the different processes have specific descriptions, saysLaarbox. We specify them below:

• Order preparation.Normally the seller has a time that can vary from three to seven days to prepare the product you asked before delivering it to acourier.
• Transport in the country of origin.In the case of imports from China, sometimes the merchandise has to go a long way to get to the city where it will be imported, so you will have to contact the seller to have an approximate of the day it will leave that country.
• Transfer of the point of origin to your country.After the merchandise boat there are different services of parcel companies that will give you the quick shipping option and that the product is most likely to reach Ecuador of eight to fifteen working days, that will always depend on the country of origin of the merchandise.
• Customs in your country.Finally you must know that because it is an international purchase, imports must follow a customs process of two to three days so that they can reach your hands and thus market them.