Much appreciate you taking time to give me a bit of guidance, as this is all new to me. I am planning to start a business importing wrist watch mobile phones, and possibly an assortment of other more unique electrical gadgets, to sell wholesale here in Spain. When I come over to Hong Kong/ China, I will be looking to buy a small amount to start (50 or so pieces) to test the market here. Hopefully also gather some other samples and prices, and make some legitimate contacts. Can you tell me what taxes, export duty or customs clearance I have to pay when buying in China/ Hong Kong, and what paperwork is needed? Do you know the best places/ areas to head to for these types of products? Any other advise you think is important, would also appreciated.
I think it is a good idea to come to the shows and see what is available, but so as to manage your expectations, it is hard to go factory direct with small volume. This blog post explains in detail:
For the products you are talking about there are no taxes that I am aware of on the outbound (unless you buy EXW, don’t do that, it will make things much more complex). But there are inbound taxes you need to concern yourself with. Get a good 3rd party logistics (3PL) company in Spain and they should be able to help you. Here are some tips on how to do that:
There are electronics districts in every major city, especially Shenzhen and HK. Plus there are trade shows that specialize in the types of products you desire. So make sure to go to the right one in October. You can read up on the shows at www.GlobalSources.com
Wishing you successful China sourcing!
Question answered by Mike Bellamy, host of “Ask the Experts” at the China Sourcing Information Center.
Mike Bellamy is an Advisory Board Member & Featured Blogger at the not-for-profit China Sourcing Information Center (www.ChinaSourcingInfo.org). He is also the author of, “The Essential Reference Guide to China Sourcing” (chinasourcinginfo.org/book) and founder of PassageMaker Sourcing Solutions (www.PSSchina.com)