import without currency transfer? Import and export of various types of goods is one of the economic activities of various individuals and organizations that can be highly profitable. To import various goods to the country, you must buy the desired goods from the country of origin and import the goods to your country by paying other side costs such as customs fees, etc.
In order to facilitate the import of goods, especially basic goods such as spare parts and pharmaceuticals, etc., the government helps importers by allocating government currency. But nowadays, importing without transferring currency or using government currency is proposed. In this article, we are going to talk about this issue and explain the benefits of importing without transferring currency, so stay with us until the end.
What is import without currency transfer?
As mentioned, the import of goods, especially essential and basic goods, is very important and has an important impact on the economy of countries. Governments help individuals and organizations to import essential goods and allocate government currency for this. But sometimes the government currency is limited and many goods are deposited in the customs. Today, one of the new conditions created by governments for the import of goods is the import of some goods without transferring currency.
Importing without currency transfer means that the desired goods can be released from customs without using government currency and without the need for the central bank of that country to be informed of the origin of the required currency. Of course, this law is applied to some essential and special goods in different countries in different ways.
In the definition of import without currency transfer, it can be said that the import that is not supplied by the central bank and the government is called import without currency transfer.
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Of course, the governments have considered special conditions to use the possibility of importing without transferring currency, it is not the case that every product can be imported without restrictions and without considering special conditions without transferring currency.
Conditions to import without currency transfer:
To take advantage of such a position, conditions must be considered. Some of these conditions include:
- The desired product for import without currency transfer should not be commercial. It should be noted that it is the responsibility of the customs to determine whether the goods are commercial or not.
- To import goods without transferring currency, importers must go through the order registration process in the international trade system.
- The necessary and required documents for the import of goods should be fully and comprehensively provided to the customs.
- The goods that you intend to import without transferring currency should not be part of the list of prohibited goods for import introduced by governments.
Documents required for import without currency transfer:
In general, to import any goods from one country to another, various documents must be submitted. Among the documents that are necessary for import without currency transfer, the following can be mentioned:
- Necessary legal documents such as business card
- Standards institute certificate
- Certificate of sponsoring organization
- Documents related to transportation and purchase of goods
- Documents related to goods clearance
- Documents related to warehousing
- Documents related to business order registration
- Bill of lading documents
- Catalogs and brochures
- Exploitation license and export licenses
- Official power of attorney
Goods allowed for import without currency transfer
As we said, not all goods can be imported without transferring currency. Therefore, governments publish a list of essential goods that can be imported in this way. So that all people who want to import goods without transferring currency should pay attention to this list and act accordingly.
Among the goods that are shared internationally, the following can be mentioned:
- Spare parts
- Cutting tools
- Sample goods for research and copying
- Pharmaceutical samples for research and testing
- Some medical and laboratory equipment and supplies
- Milk and baby food
- Some publications and scientific books
It should also be noted that all these cases should not have a commercial aspect. Whether these goods are commercial or not must be confirmed by customs. If the product you intend to import is not in the mentioned list, it should be examined in several meetings held by representatives of the ministries of commerce, economic affairs and finance and the central bank of each government and country to which you intend to import. until the necessity of their import and their non-commerciality are confirmed.
pros of Import without currency transfer:
According to what has been said, importing goods without transferring currency is a plan in which goods can be imported into destination countries without the need for government currency and paying for it through legal means. This plan has many advantages. One of the most important advantages of the plan to import goods without transferring currency is to prevent the warehouse of goods, especially essential goods, in customs and its warehouses.
By creating a plan to import without transferring currency and without the need for government currency, the volume of stored goods will be significantly reduced. On the other hand, the process of clearance of goods flows faster. By facilitating the import and clearance process of goods from customs, the amount of import of goods will increase and cause the economic prosperity of countries, especially if they are under sanctions like Asian countries.
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The increase in imports in the market will reduce the shortage or eliminate the shortage of some goods such as medical and pharmaceutical goods in the countries. On the other hand, the price of rare goods will decrease in the market.
Disadvantages:
The import plan without currency transfer is not without problems and it also has disadvantages. Among the disadvantages of this plan is the increase in money laundering and tax evasion by importers. When unnecessary goods enter destination countries without transferring currency, it can cause a heavy blow to the economy and production of that country.
In addition, without the supervision of the banks, the offenders do not return the currency earned from exports and imports to the governments. By using these currencies, they can illegally earn a lot of foreign exchange income outside the countries of destination of the goods. On the other hand, importing without transferring currency causes an increase in imports and can lead to traffic in customs for clearance of goods. In addition, this plan has other disadvantages, which include:
- Creating legal and legal problems
- Depreciation of countries’ currencies
- Increase in foreign exchange rates
- Creating inappropriate competition with domestic and foreign producers in that country
- Preventing the development and progress of domestic industries
- Decrease in government revenue
Placing an order and carrying out import affairs without transferring currency is one of the non-bank payment methods for the license to place an order for goods or to import them to different countries, which you can use to import some specific goods that have been mentioned. Meran Blue Gulf, with many years of presence in the export and import business, is ready to provide free advice and carry out zero to one hundred import and export affairs, customs clearance in the shortest possible time, moving all kinds of goods, including food and Drinks that benefit from special conditions are announced, please contact us.
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