Keeping your cash flowing
What is a Bonded Warehouse
Imported goods from outside the EU are subject to customs fees and duties. Any product that you ship from outside the EU must go through customs, where you oftentimes have to pay a considerable amount to get your product where it needs to be.
These customs taxes can hugely impact your liquidity,reducing your capital for investment and expansion.
An option to postpone these payments until you actually achieve a sale are bonded warehouses.
Customs and Re-export
Bonded warehouses are facilities in which goods that fall under customs law are kept before duties are paid. In this way, any imported goods from outside Europe can be safely and legally stored in our bonded warehouse without you having to pay customs immediately. Once you receive the order on your online sales page, you pay the customs duties with part of the profit earned from the sale. If the product is to be shipped back outside the European Union, you can even avoid paying at all. This is because VAT is only paid when imported goods are sold, not on re-exported goods from the bonded warehouse. Some companies report up to 25%-30% saved on these taxes. The benefits of this way of storing your imported products are manifold.First off, you maintain added liquidity, i.e. your cashflow is unburdened by having to pay tariffs on imported goods in bulk. This, of course, allows you to invest in other aspects of your business, like marketing or expanding your product range with the surplus resources.
Handling Customs Duties
In addition to that, we take over the trouble of dealing with the customs office and handling the payments. We will help you clear your goods in customs (commuanautair) and with any other dealings with the customs office. Like the T1 form, for example. The T1 form allows goods to be shipped between EU countries, even when they are still under customs. As a consequence, you don’t have to hire employees to waste time and resources on customs when they could be helping your company grow.
Our bonded warehouses have the added advantage of being linked to our logistics facilities. If you decide to become one of our business partners, we essentially can take care of everything from storage and packaging to the delivery and even return of the item, if need be. Once the goods are cleared for customs payment, we simply initiate the process of packaging and shipping, exactly as we do with our other goods stored in the non-bonded warehouses.
Because bonded warehouses are specific in that they fall under customs law, they are well secured and maintained. Additionally, you receive a bond on your items. This ensures that you won’t face any monetary loss once the taxes, including VAT or GST, are paid.
Vareya Bonded Warehouse
Our bonded warehouse (42000m2) in the Netherlands has a customs authorization level C. This means that we can receive, store and ship goods that are under customs. And because of our AEO-F licensing, we can increase the speed and flexibility when it comes to customs. Our company simply takes care of all the logistics behind storing and transport for you, saving you time, resources, and oftentimes a lot of frustration.