To import your products it is necessary that you know the Requirements to Import, since this is an activity that requires effort to achieve the connection with a specific country and carry out commercial operations where both countries can benefit.
In addition, imports help a country to acquire products that do not exist within its production, providing its inhabitants with a better quality of life and the country in general a great source of income.
What are the Requirements to Import to Ecuador?
Below is a list of the Requirements to Import in Ecuador, as well as some websites that serve to register some procedures:
- Manage the RUC (Unique Taxpayer Registry), which is issued by the SRI (Internal Revenue Services).
- The fiscal condition must be up to date.
- Have the Advanced Electronic Signature.
- Obtain the advice of a customs agent or a customs agent.
- Register in the list of importers.
- Carry out the task entrusted to the customs agent.
- Carry out the payment of taxes and benefits, in the same way the expenses for storage, merchandise transport, loading and unloading.
- Obey non-tariff regulations and limitations, that in any case the merchandise is subject to (announcements, rules, authorizations, among others).
- Possess the digital certification for the electronic signature and authentication granted by the Central Bank of Ecuador and Security Data.
- Register on the website of ECUAPASS.
- Process and acquire the Single Taxpayer Registry (RUC).
To Take into Account: Through a customs agent, steps are taken to clear the merchandise. This is in charge of advising the importer on what merchandise can and cannot be imported, likewise, regarding the requirements with which the merchandise must comply, according to those stipulated by the Law.
Requirements to Import: Step by step
To ensure that the import is completed, it is necessary to follow some steps, this in order to prevent possible conflicts at the time of the transaction, since it will be prepared for the business to advance successfully. These steps are as follows:
- Carry out a Market Study: It should be explored whether the merchandise to be imported can be negotiated in a specific country. Consider if the product is legal and the competition it has in that country. It is also advisable to attend an office that carries out (authorized) market studies, where a guide is received and where all variables are taken into account.
- Assess Possible Risks: It is necessary not to skip this step, since when you make such a large investment, there is the possibility of have a major loss.
- Prevent Financial Condition: You must have the capital required to cover the costs of obtaining, transfer and taxes of the merchandise.
- Agreements between Companies: The agreements that are made between companies are careful, therefore, it is suggested to inquire about the companies with which you want to do business.
- Request registration on the website of ECUAPASS.
- Acquire the digital certification for electronic signature and authentication, granted by the Central Bank of Ecuador and Security Data.
- Make the registration in the RUC.
- Register the signature to perform the DAV (Andean Declaration of Value).
- Find a customs agent to take care of all import procedures.
- Consign the requested documentation. Have the Advanced Electronic Signature updated and present the certification of compliance with fiscal responsibilities.
- Obtain the tax address, which must appear located or in the process of revision, demonstrated with a certificate.
- Specify if the import is in the determined sectors. Take into consideration which sectors impact the product, for example: Electronic equipment, health sector, machinery, among others.
- Use a mechanized inventory inspection tool.
- Gather all the documents, data and different ways to verify the country of origin of the imported merchandise.
- Communicate who will be the customs agent.
- Make a report indicating data about the value, sale, means of shipment, customs regulations and origin of the merchandise.
Requirements to Import: Types of Imports
Below are the 6 types of imports that exist:
It refers to the incorporation of merchandise in a certain country canceling customs duties to be released. This type of import is maintained for an indefinite time, in the event that it complies with the Customs Law.
It is responsible for the importation of services and goods, which is subject to specific agreements between countries or different laws, and that may be exempt from paying customs taxes, and they are always open to limitations.
These imports include mailings.
They are those objects or products without limitations that a passenger transports from one country to another.
Import by Guarantee
Are imports are free transit, and it is carried out without having to pay any type of customs duty. It constitutes the restitution by guarantees of the supplier, to be replaced, restored or returned.
It refers to the production procedures that are carried out in different countries. In such a way that, the merchandise must be subject to industrial and manufacturing processes, to be transformed or assembled.
Requirements to Import: What Products can be Imported to Ecuador?
This point is part of the Requirements to Import, since you must know the products that can be imported to Ecuador. These are mentioned below:
- Medicines, chemicals and organic.
- Equipment and machines, plastic products and their elaboration, electrical machines.
- Editorial merchandise for press and graphic manufacturing.
- Any kind of liquor.
- Furniture made of metal or wood.
- All kinds of toys.
- Products for the kitchen.
- Shoes and clothing.
- Petroleum oil.
- Automobile CKD (transmission, engine, tires, gearbox, among others).
Import costs to Ecuador
When importing to Ecuador it is necessary to consider the following aspects:
- The cost of the merchandise in the country of origin.
- The transportation costs and insurance.
- Customs taxes and duties.
- Costs at destination.
The aforementioned values will change according to their destination. It’s fundamental know what the tariffs are to be paid to customs. Therefore, it is also important to know what types of tariffs exist, these are:
The Ad Valorem
This contains a percentage that does not vary on the cost of the merchandise, according to the cost in customs which could be both export and import.
It is calculated based on the charges and charges in determined money, for example (dollars) per physical item unit. It is used from a quantitative point of view and usually on import.
A combination of ad valorem and specific tariff. In other words, an amount of money is charged for each product, and additionally a fixed amount for the price of each item.
This tariff counteracts the inconvenient costs of the manufacturers of the country, which are the result of a tariff protection. Which is granted to the country’s suppliers on the raw material, and the ad valorem part of the tariff protects the manufacture of finished articles.
According to the aforementioned, below is what is charged for importing to Ecuador:
- The D-Valorem: This duty is charged to the merchandise, and is stipulated by the competent body. Which is consistent in the percentages, according to the type of merchandise and is used on the sum of insurance, cost and freight (this represents the taxable base of the import).
- Development Fund for Children (FODINFA): 0.5% is used on the taxable base of the import.
- The Special Consumption Tax (ICE): It is a percentage that varies according to the services and goods that are imported.
- Value Added Tax (VAT): Represents 12% calculated thus: The taxable base + Ad Valorem + FODINFA + ICE.
NOTE: If you want to know how much you must pay to import your merchandise to Ecuador, go to Ecuador tariffs, put the name of the product and you will get the amount of each operation.
What is it?
The import is transporting goods and services from abroad, which are obtained by a country to later be distributed within this country. Any type of merchandise and service can be imported, where it is received by a nation for commercial purposes.
It is important to point out that every person and company resident in Ecuador that carries out goods import operations must pay the corresponding duties through the Republic’s customs.
Advantages and Disadvantages of Imports
Importing offers the opportunity to economic representatives, of get products that are not made in your country originally. These can be obtained cheaper, of excellent quality and benefiting consumers. In such a way that, when importing cheaper merchandise, the money is freed so that the representatives have savings.
They can also invest in new merchandise, increasing production mechanisms and improving the quality of life of the inhabitants of a certain country. Therefore, the import is the purchase of merchandise from one country to another.
On the other hand, importing increases the rivalry between the national production and the importing country. Manufacturers in exporting countries may have a better production situation (highly qualified inhabitants, great technological progress, and excellent infrastructure).
This in turn also includes salaries for amounts lower than usual (due to the low payment of salaries in the exporting country), in which some economists agree, assuring that this disadvantages the national economy in the labor market.
Having the information about the Requirements to Import In Ecuador, you just have to focus on complying with them so that you can start importing transactions as soon as possible.
This in order to contribute to the economic development of the country, offering new quality products, sources of employment and creating good commercial relations between countries. Hurry up and gather the Requirements to Import.
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