If you’re wondering “Do I need a license importing from Vietnam?” you’re in luck! Vietnam does not require businesses to have import or export licenses. However, foreign investors need to register with the Department of Planning and Investment, which is quite simple.
Can I import products from Vietnam?
Most items being imported from Vietnam to the US are subject to a 0-25% import tariff, depending on their category. However, certain items cannot be exported from Vietnam or require special export permissions. For example, one cannot import petroleum and oil products from Vietnam to the US.
How do I start importing from Vietnam?
To import to Vietnam, you need to obtain an investment license and a business registration certificate from the Department of Planning and Investment (DPI). There is no separate import license in Vietnam – the investment license already allows you to import or export products.
What can I export from Vietnam?
|Top Exports||Export Value (2017)|
|Phones||US $45.1 billion|
|Textiles||US $25.9 billion|
|Electronic goods/Computers||US $25.9 billion|
|Footwear||US $14.6 billion|
Does Vietnam try to restrict imports?
Import and Export Restrictions
Under the Trading Law in Vietnam, certain goods are banned from export or import: Goods banned from export: petroleum oil. Goods banned from import: tobacco, cigars, newspaper, journals, petroleum oils and aircrafts.
What does Vietnam need to import?
Top 10 Imports From Vietnam
- Electric Machinery and Equipment. …
- Knit and Crochet Apparel and Accessories. …
- Footwear. …
- Furniture. …
- Woven Apparel and Accessories. …
- Edible Fruit and Nuts. …
- Articles of Leather. …
- Fish and Crustaceans.
Does Vietnam import or export more?
Vietnam is currently our 13th largest goods trading partner with $77.5 billion in total (two way) goods trade during 2019. Goods exports totaled $10.9 billion; goods imports totaled $66.6 billion.
What is the import tax in Vietnam?
Most normal goods are subject to a 20 percent import tax. The Vietnamese government recently implemented an exemption for goods with a value of less than 1 million VND. Some other exemptions apply to specific goods deemed essential or valuable to the development of the country.
What can you not bring into Vietnam?
The following things may not be brought into the country:
- Dangerous goods.
- Animals without the proper permits, certificates, and vaccinations (including pets without a rabies certificate)
- Narcotic medication without a doctor’s prescription.
How do I import things from Vietnam?
The most common way to import from Vietnam is via ocean freight, mainly because Vietnam is an ocean-facing country, but air freight is also an option. Be smart about transit times when it comes to importing from Vietnam as well.
What is Vietnam’s biggest export?
Economy of Vietnam
|Ease-of-doing-business rank||70th (easy, 2020)|
|Exports||$290.4 billion (2018 est.)|
|Export goods||Electronics, textiles products, machinery, footwear products, transportation products, wooden products, seafood products, steel, crude oil, pepper, rice and coffee|
Is made in Vietnam good?
Vietnam is an excellent place to source products, assuming that your product can be made here. … If your product is made in Vietnam, it will likely be cheaper or of a higher quality than the same product from China. Many people are finding that products can be cheaper AND better in Vietnam.
What does Vietnam import the most?
- Electrical machinery, equipment: US$77.8 billion (29.5% of total imports)
- Machinery including computers: $26.8 billion (10.2%)
- Plastics, plastic articles: $14.6 billion (5.5%)
- Mineral fuels including oil: $11.2 billion (4.2%)
- Iron, steel: $10.5 billion (4%)
How can I start export business in Vietnam?
Import and export licensing procedures
Vietnam does not require a company to have an import or export license to set up a trading company. However, to be able to conduct import or export business, a foreign investor must register with the Department of Planning and Investment (DPI).
How many import taxes are applicable in Vietnam?
Import duty rates are classified into three categories: ordinary rates, preferential rates, and special preferential rates. Preferential rates are applicable to imported goods from countries that have most-favoured-nation (MFN, also known as normal trade relations) status with Vietnam.
Can you bring gold into Vietnam?
Visitors to Vietnam can bring with them unlimited amounts of foreign currency, objects made of gold, silver, precious metals and gemstones or plated with silver or gold, but these must be declared in detail on their customs forms.