Doing business internationally
We’ll help you get started
- Tips for doing business internationally
- Import and export checklists
- How to reduce international trade risks
Start strong
1. Know your market and foreign business partner
Do some research into the local import or export market to find out whether there’s demand for your product. Also to identify your business rivals, and to understand the developments in your sector. Familiarise yourself with the codes of conduct and customs. Language and cultural differences can increase the risk of miscommunication.
Make sure you have reliable company information. Is the company financially healthy? This will explain more about your foreign market (in Dutch) and anything you need to take into consideration. Of course, it’s best if you speak the language, but if you don’t, find a local interpreter or make the right contacts in the country (in Dutch).
2. Import or export, get prepared
You’ll have to consider product requirements, import duties, transport, an unfamiliar market and foreign currencies. And make agreements with your foreign partner or client. Make sure you’ve got all these angles covered. Our import and export checklist will help you on the path to success.
And there are two tools you simply can’t do without:
- Access2Markets. This gives you all the information you need about import and export by country and by product.
- Incoterms. Incoterms shows you at which point the risk of loss or damage of the goods is transferred from the vendor to the buyer. And the cost of transport.
3. Limit your trade risks
You don’t want to get into a situation where your client doesn’t pay or the supplier doesn’t deliver. Avoid this risk with a Bank Guarantee for businesses, a Documentary Collection or a Letter of Credit. This way, you can do business internationally with confidence and peace of mind.
You should also bear product liability (in Dutch) in mind. If you import a product from outside the EU, you are liable for that product as the law sees you as the producer and therefore responsible for any damage caused by, or arising from, the product. Here’s an overview of the main trade risks and how to limit them.
4. Need extra financing?
If you need financing to fulfil your international dream, we are here to help. Discover which financing options (in Dutch) work for you.
Did you know that Trade Finance also offers financing options? We have several options for purchase financing or advance financing of a deferred payment with Trade Finance.
5. Keep your records in order
When doing business internationally, you need to keep more records than when you only trade in the Netherlands. The Tax Authorities need you to provide proof with your VAT return, so remember to specify the VAT when sending invoices. You must also store various documents safely, such as consignment notes for import, proof of export of your product and signed transport documents for export. Read all the information carefully to find out which records you need to keep.
Start well prepared
Your import checklist
From market research to arranging transport. This checklist will help you on the path to success.
Export successfully
Have you thought about product requirements and choosing a reliable foreign partner?
Limit your trade risks
What if your client doesn’t pay, or you’re unsure about import duties. Avoid nasty surprises.
Doing business internationally with confidence
FAQ from international businesspeople
Where can I find information about exchange rates?
You’ll find the current exchange rates here. If you want to know how much your euros are worth in another currency, use the price list or currency calculator. Enter the amount in euros and select the currency of the country to calculate the amount.
When do I need to pay import duties, and how much are they?
Thanks to the free movement of goods within the EU, there are no import duties on goods imported from an EU country. You may have to pay import duties on goods you import from outside the EU. This, and the amount of the import duties, depends on the product you’re importing. You can calculate the import duties yourself.
What are HS codes and EORI numbers?
An HS code is a combination of 6 digits, unique to each product. The customs authorities use HS codes to categorise products, making it easier to track which products are leaving or entering a country. You need an HS code for import and export. The code also shows whether you need to pay import duties and if so, how much. Read where you can find your HS code (or codes) here.
An EORI number is compulsory for anyone doing business internationally. It’s an identification number for companies within the EU, comprising digits and letters. The number identifies your company to the customs authorities. You can create your own EORI number or you can request one.