It is really a challenging task to start an import export business in Pakistan, especially for those who do not have any family history of running import export business in a country like Pakistan. If you are willing to take risk, here is guideline for you that will surely help you out in taking the initial step for starting import export business in Pakistan. Good news for the beginners is that the export and import license is not required these days for starting an export and import business in Pakistan. Let us discuss one by one that what are the initial requirement for export and import business in Pakistan
How to start an export business in Pakistan:
Here is a list of the essential requirements for starting an export business in Pakistan.
- The first thing you have to do is apply for national tax number and get the NTN certificate from income tax department.
- You should have a current bank account that is necessary for export proceedings.
- Get yourself registered with sales tax department.
- You are required to have a membership certificate of chamber of commerce and industries.
- Form E from state bank of Pakistan is required for all export that is relevant to foreign exchange regulation. This form is certified by the bank after the essure that all the documents are approved.
- All the shipping documents must be passed through bank in 14 days from shipment.
- Knowing about all these documentation, you have to complete it before thinking of any practical deal with foreign companies.
- Have through knowledge about international market of the export products that you are willing to sale. It will help you in taking good decisions for your export business.
How to start an import business in Pakistan:
Here you have the list of the intial requirements for import business in Pakistan. The basics are mostly the same as in export business.
- National tax number certificate is requirement that is issued from bank.
- For import proceedings and documentation, you are required to have current bank account.
- You should have a membership certificate of the chamber of commerce and industries or any other relevant association of Pakistan
- Get your sale tax registration from sale tax department.
Having thorough information of the initial requirements for starting import and export business in Pakistan, you can plan for starting it through proper legal channel.